Bluestone Mortgages has cut rates across its product range by up to 64bps. 

The lender has reduced rates across its residential two-, three- and five-year fixed product range. These reductions apply to both its standard and fee-free options. 

Its purchase and remortgage range rates will now start from 7.4%, for a five-year fix with a maximum LTV of 70% and a £1,495 fee. This is for borrowers with a ‘clear’ credit history, meaning one satisfied default in the last 36 months no CCJs or secured arrears and at least six years since any bankruptcy or IVA. Rates rise to 8.7% for those with the most impaired credit histories.

The biggest rate drops are for those borrowing up to 85% LTV, with rate reduction of 54bps for 80% LTV loans on 49bps on its 75% LTV mortgage range,

Bluestone Mortgage specialises in mortgages for customers who do not mean mainstream lending criteria. 

Bluestone Mortgages sales and marketing director Reece Beddall says: “As stubborn inflation and the cost of living crisis continue to squeeze people’s finances, we remain committed to providing support to the growing number of customers who don’t meet the traditional lending criteria. Today’s rate reduction is testament to this, and will help disenfranchised customers looking to achieve their homeownership goals.”