Finance

Bluestone cuts rates across entire range

Property Reporter
|
16th May 2022
Mortgage 412

Bluestone Mortgages has announced that it has reduced its rates across its entire product range, including residential, buy-to-let, and help-to-buy. In addition to this, the lender is also bringing right-to-buy to the whole market in order to provide further support to a growing number of customers who do not fit the ‘vanilla’ profile.

Bluestone says it will 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.

Previously only available through limited distribution via Bluestone’s selected Sapphire Partners, Right-to-Buy will be available to the whole market on 17 May. 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.

Reece Beddall, Sales & Marketing Director, Bluestone Mortgages, comments: “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 onto the property ladder. 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.”

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