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Bluestone enters Help to Buy market

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  • 01/10/2018
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Bluestone enters Help to Buy market
Bluestone Mortgages is launching into the Help to Buy sector covering the England and London schemes.

 

The Help to Buy products are available across all of Bluestone’s credit tiers at up to 75% loan-to-value (LTV) and include two-, three- and five-year fixed-rate mortgages as well as variable rate options.

The maximum loan amount will be driven by the maximum property value available on the scheme, which is currently £600,000 for England.

Rates start from 3.99% on the variable rate option and the mortgage offer will be valid for six months ​with extensions possible where the property construction is delayed and there is a free standard valuation.

 

Non-vanilla borrowers

Bluestone Mortgages director of sales and marketing Steve Seal (pictured) said the lender was excited to launch its Help to Buy range.

“We are highly aware of the challenges many borrowers face when trying to step onto the property ladder. There are options, though, and the government’s Help to Buy scheme acts as a crucial helping hand,” he said.

“While ‘vanilla’ borrowers can usually access Help to Buy through the high-street, those with credit issues and complex or irregular sources of income deserve the same access to choice and affordability.

“Anything that we can do to help them on the road to homeownership feels extremely worthwhile and we’re excited to continue expanding our product range as part of our long-term growth plans.”

Legal & General Mortgage Club head of broker relationships and propositions Craig Hall said the scheme had played a huge role in supporting first-time buyers.

“It’s great to see Bluestone enter this market and provide lending for those who may otherwise have been unable to get on the ladder,” he said.

“The range brings much-needed choice and flexibility to the market and we’re confident it will be welcomed by both brokers and customers alike.”

 

 

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