Suffolk Building Society has expanded the maximum loan size from £1 million to £2 million, for standard residential and expat residential, commercial and industrial (C&I) products up to 80% loan-to-value (LTV).
Charlotte Grimshaw
The changes, which come into effect today (July 3), include:
● 80% LTV residential two-year discount C&I
● 80% LTV residential two years fixed C&I
● 80% LTV residential five years fixed C&I
● Expat 80% LTV residential two-year discount C&I
● Expat 80% LTV residential two years fixed C&I
● Expat 80% LTV residential five years fixed C&I
This replaces the two specific major mortgage products for residential and expat housing, which were introduced in January 2024.
As a result of this change, brokers’ customers will benefit from lower costs on loans over £1 million.
Charlotte Grimshaw, head of intermediary relations and mortgage sales at Suffolk Building Society, said: “We know brokers love our common sense approach to lending, and we appreciate that they are busy people who want to focus on helping their customers , so we’ll keep an eye on things. as simple as possible to make their lives easier.”