The last time its Help to Buy offering was made available to the whole of market was a six-month period between October 2018 and March 2019.
Since then, it has been distributed through four packaging firms TFC, 3MC, Brightstar and Impact FS. Brilliant Solutions were later added as a fifth packager.
Rates for the range start from 4.5 per cent, and products are available to all the lender’s credit tiers at up to 75 per cent loan to value on a five-year fixed rate.
The maximum loan size is £600,000, which is based on the maximum property value available through the scheme for England.
Builder incentives of up to five per cent of the purchase price are also accepted. These include white goods, carpets, small cashback, legal fees and contribution towards stamp duty.
Applications from those with CCJs, defaults, unsecured credit arrears, debt management plans and IVAs can be accepted. Offers are valid for six months with possible extensions if construction is delayed.
Reece Beddall, Bluestone Mortgages’ sales and marketing director, said: “The Help to Buy scheme has played a vital role in helping thousands of first-time buyers onto the property ladder, however for those with credit issues and irregular sources of income it can be much more challenging.
“As such, we’re delighted to have secured a new funding line from a major investment bank that has enabled us to reopen distribution across our Help to Buy range to support more first-time buyers, who otherwise may have not been able to achieve their homeownership dreams.”
The lender entered the Help to Buy market in 2018, covering the England and London schemes.
Bluestone Mortgages hired new build and national account manager Chris Holcomb in September to help expand the proposition.
