It also makes its right-to-buy available to whole market
Bluestone Mortgages has announced a rate reduction across its entire product range, and has offered its right-to-buy products – previously available only to a select group of customers – to the whole of the market.
The lender said it will reduce rates across its residential, buy-to-let, help-to-buy, and right-to-buy products, and lend up to 85% loan-to-value. Rates will be reduced by up to 1.57% and will now start from 3.85% for a 60% LTV variable product.
Right-to-buy will be available to all customers from Tuesday, May 17. Previously, it was only available through limited distribution through Bluestone’s selected Sapphire Partners.
Loans will be available up to 100% of the discounted purchase price, and up to 75% LTV open market valuation. Loans will be available at a five-year fixed rate, starting at 3.9% and will be accessible across all of Bluestone’s credit tiers.
Prior to these changes, Bluestone Mortgages had already reduced rates across its help-to-buy range.
Read more: Bluestone Mortgages cuts rates across help-to-buy range.
Reece Beddall, sales and marketing director at Bluestone Mortgages, said the changes aim to provide further support to a growing number of customers who do not fit the ‘vanilla’ profile.
“By reducing our rates and expanding our proposition we hope to reinforce our commitment to support the growing number of customers with complex credit who are struggling to climb up or on to the property ladder,” Reece Beddall, sales and marketing director at Bluestone Mortgages, said.
“We believe it is our duty as a specialist lender to help those who have been traditionally underserved, giving them the opportunity to achieve their homeownership dreams.”
Bluestone Mortgages is the residential lending arm of Bluestone Group, a specialist lending and fintech business with headquarters in Cambridge and offices in London, Sheffield, and Dublin.
