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Bluestone Mortgages expands Right to Buy to whole of market and cuts rates

  • 16/05/2022
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Bluestone Mortgages expands Right to Buy to whole of market and cuts rates
Bluestone Mortgages has announced it will make its Right to Buy proposition whole of market to provide further support to non-vanilla customers.

Right to Buy is a government scheme where council tenants can buy their homes at a discount.

The product was previously only available via limited distribution through selected Sapphire Partners and will come into effect from 17 May.

It added that loans will be available up to 100 per cent of the discounted purchase price, and up to 75 per cent LTV open market valuation.

Five-year fixed rate terms are available, starting at 3.9 per cent and can be accessed at all the lender’s credit tiers.

The lender added that its buy-to-let, Help to Buy and Right to Buy products rates would be reduced by up to 1.57 per cent and will start from 3.85 per cent for a 60 per cent loan to value (LTV) product. Bluestone added that it can lend up to 85 per cent LTV.

Reece Beddall (pictured), sales and marketing director at Bluestone Mortgages, said: “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.”


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