Lender continues its phased return to the mortgage market
Suffolk Building Society has announced the launch of products across its residential, holiday let, and buy-to-let mortgages, following its phased return to the market with expat and self-build products.
Starting October 13, the products will be available to intermediaries for purchase and remortgage. These includes residential mortgages at 80% LTV: two-year discount C&I at 2.69% (SVR minus 3.15%), three-year discount C&I at 2.79% (SVR minus 3.05%), two-year discount IO at 2.99% (SVR minus 2.85%), and three-year discount IO at 3.09% (SVR minus 2.75%).
Holiday let two-year discount at 80% LTV with a rate of 3.59% (SVR minus 2.25%), and buy-to-let two-year discount at 80% LTV with a rate of 3.45% (SVR minus 2.39%) are also available.
Discount products will be subject to the society’s SVR change from 5.84% to 6.34%, effective November 1.
“After the temporary measure to pause our lending activity, we are now pleased to return to market with further product options, having recently launched self-build and expat deals,” Charlotte Grimshaw (pictured), head of intermediary relations at Suffolk Building Society, said.
Read more: Suffolk Building Society begins phased return to mortgage lending.
She added that by adopting the phased approach, they have been able to manage a steady inflow of applications while progressing cases in the existing pipeline, successfully reducing service times to a comfortable level.
“Through this careful management, I am delighted we are now able to offer a wider range of products,” Grimshaw stated. “We are committed to underwriting and progressing cases within a comfortable timeframe, managing our SLAs to ensure we’re giving a positive service to brokers and, in turn, their customers.”
