The mortgages will be available via limited distribution through the lender’s selected Sapphire Partners.
Loans will be available up to 100 per cent of the discounted purchase price, and up to 75 per cent loan to value (LTV) open market valuation.
The products are five-year fixed rates, starting at 3.9 per cent. The range will be accessible across all of Bluestone’s credit tiers.
The scheme enables eligible council and housing association tenants in England to buy the homes that they have been living in, with a maximum discount of £84,200 across most of England. In London boroughs, the maximum discount is £112,300 and increases each year in April, in line with the consumer price index (CPI).
Reece Beddall, sales and marketing director at Bluestone Mortgages, said: “Understanding there is a growing demand for right to buy from our brokers, we’re delighted to be able to offer this product as part of our phased product expansion.
“For too long, a large cohort of customers have been excluded by mainstream lenders. We believe it’s our moral duty to help those who are traditionally underserved to climb onto the property ladder, giving them the opportunity to achieve their homeownership dreams.”
