Another week, another rate chop. This time it’s Expat Holiday Lets to get a refresh, with up to 20bps off across the range.
And we’ve increased the max loan size for three product categories.
Expat Holiday Let Changes
Up to 20bps off
Max loan increases to £1m
Rates from 5.79%
New Max Loan Amounts
Resi 90% LTV NOW £650k
Expat and UK Resi 80% LTV Interest Only NOW £1m
One of our intermediary partners, Ryan Forde, Director of Specialist Lending at Pinnacle Finance had this to say about his experience of using us for expat holiday lets:
“I have had the pleasure of submitting several successful expat holiday let applications to Suffolk Building Society in the past months. Expats are often looking to set up a base for themselves in the UK which they intend to use when holidaying or visiting family, but do not want to be restricted to their use only and require the freedom and flexibility to generate rental income from the property when they aren’t using this themselves. The holiday let option offers the best of both.
Applications with other expat lenders may seem like an uphill struggle, where you are fighting against the underwriter and providing every document under the sun. Suffolk Building Society makes the process as stress-free as possible. You won’t experience a ‘computer says no’ attitude, as the manual underwriting allows the team to use a common-sense approach, looking for reasons to lend, rather than reasons to decline. This approach, paired with an experienced BDM with incredible industry knowledge, who is always happy to assist, leads to a smooth process throughout.”
