Suffolk Building Society has announced a series of rate reductions across its buy-to-let and holiday let mortgage products, trimming up to 11 basis points (bps) from selected 80% LTV 2-year fixed rate deals. The move is aimed at supporting landlords struggling with affordability amid continued Interest Coverage Ratio (ICR) stress testing and wider market pressures.
The new rates, effective Tuesday 6 May 2025, are designed to help landlords improve their borrowing capacity without locking into longer-term fixed rates.
“Buy-to-let landlords have faced financial pressure from all directions in recent years,” said Charlotte Grimshaw, Head of Intermediary Relations and Mortgage Sales at Suffolk Building Society. “By lowering rates across our popular 2-year products, we can help landlords improve their borrowing ability without committing to a 5-year fixed rate.”
Updated rates – effective 6 May 2025
The new fixed rates, now available for both purchase and remortgage, are as follows:
80% LTV Expat BTL 2-Year Fixed (capital and interest): Reduced by 11bps to 5.59% (from 5.70%) – now extended to 31 August 2027
80% LTV BTL 2-Year Fixed (capital and interest): Reduced by 10bps to 5.45% (from 5.55%) – now extended to 31 August 2027
80% LTV BTL Light Refurb 2-Year Fixed: Reduced by 10bps to 5.55% (from 5.65%) – now extended to 31 August 2027
80% LTV Holiday Let 2-Year Fixed: Reduced by 10bps to 5.45% (from 5.55%) – now extended to 31 August 2027
80% LTV Expat Holiday Let 2-Year Fixed: Rate held at 5.89% – now extended to 31 August 2027
Grimshaw highlighted expat buy-to-let lending as the Society’s second-largest lending area, thanks to its manual underwriting and flexible criteria, which have made it a popular choice among brokers dealing with complex borrower profiles.
“We’re keen to continue supporting brokers with clients in this complex market,” she said. “We understand the fine balancing act landlords face, and we’re pleased to be reducing rates on this range.”
The Society has shared the new product information with brokers and updated its Mortgage Product Finder tool and intermediary website pages accordingly.
With high interest rates, changing tax rules, and rising costs squeezing landlords, Suffolk Building Society’s rate reductions may offer a timely reprieve, particularly for those seeking short-term flexibility in a challenging environment.
