Bluestone Mortgages has launched a new Help to Buy range, covering the England and London schemes.
The Help to Buy products are available across all of Bluestone’s credit tiers, offered up to 75% LTV and cover 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 Help to Buy scheme, which is currently £600,000 for England.
Rates start from 3.99% on the variable rate option. The Help to Buy mortgage offer will be valid for six months with extensions possible where the property construction is delayed.
The Help to Buy range also includes a free standard valuation.
Steve Seal, director of sales and marketing at Bluestone Mortgages, said: “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. We’re therefore very excited to launch our own Help to Buy range in support.
“Whilst ‘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.”
Craig Hall, head of broker relationships and propositions at Legal and General Mortgage Club, added: “Help to Buy has played a huge role in helping thousands of first-time buyers onto the property ladder, and it’s great to see Bluestone enter this market and provide lending for those who may otherwise been unable to.
“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.”