Suffolk launches 15% deposit buy-to-let

Suffolk Building Society has launched buy-to-let mortgages requiring just a 15% deposit.

That’s welcome competition for landlords seeking smaller deposits or equity to fund another purchase. A 15% deposit is rare for buy-to-let; most require at least 20%. But there’s a catch: these mortgages are for personal-name landlords, not limited companies.

I was excited by the headline. More excited by the fee difference versus Vida. Less excited when I discovered the personal-name restriction.

Here’s how the standard 85% loan-to-value (LTV) fixed rates compare:

Purchase valuations and other costs may apply.

Vida’s listed deals offer loans from £50,000 to £500,000. Suffolk’s maximum is £650,000.

On £200,000 borrowing, Vida’s 2% fee alone costs £4,000. Suffolk’s application and completion fees total £1,198. That’s a meaningful difference. But compare total costs, not fees alone.

Unfortunately, Suffolk’s criteria explicitly state: “The properties must not be owned or run within a limited company.”

Vida does accept limited-company buy-to-let. Suffolk also restricts applicants to three buy-to-let properties in total, including the proposed mortgage.

There may still be a route for landlords expanding through a limited company. Remortgaging a personally owned rental to 85% could release equity. You could then lend those funds to your company towards another purchase.

And 15% deposit does not mean guaranteed 85% borrowing. Insufficient rent can therefore reduce your maximum loan, even with a 15% deposit.

Lenders still stress-test the rent. Suffolk tests two-year fixes at the product rate plus two percentage points. It uses the product rate for five-year fixes.

More competition is good news. High-LTV borrowing still comes at a price.

Rates checked 30 October 2026. Products can change.