Complex Buy To Let
Bluestone resumes new lending up to 75 per cent LTV
Bluestone Mortgages is accepting new mortgage applications again across its residential and buy to let ‘clear’ credit ranges from 13 May.
This news follows Bluestone’s decision in April to temporarily pause new applications due to restrictions across the housing market caused by the coronavirus pandemic.
To process new applications up to 75 per cent loan to value (LTV) the lender will make use of automated valuation models (AVMs) and desktop valuations.
Bluestone’s support services will remain open for existing customers and ongoing applications will continue to be underwritten and assessed during this period.
Steve Seal (pictured), managing director at Bluestone Mortgages, said: “We are really pleased to be back and open for business and have had strong support from our funders and the valuation industry in adapting to the current market.
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“As we kickstart activity over the coming weeks, our focus will be on supporting brokers who have existing pipeline applications that can now progress, and on delivering strong service levels to brokers submitting new customer applications.”