Bluestone announces widespread rate reductions and Right to Buy expansion

The lender is reducing rates across its residential, buy-to-let, Help to Buy and Right to Buy products and lend up to 85% LTV. Rates will be reduced by up to 1.57% and 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 whole of market from 17th 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 and marketing director at Bluestone Mortgages, commented: “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.”