Bluestone Mortgages has cut rates across its residential and Right to Buy ranges by up to 23bps.

Rates for the specialist lender’s two, three and five-year products have been reduced, now starting at 6.8% for a five-year fix at 70% LTV, available up to 85% LTV.

The products come with no application fees and remortgage customers have access to a free valuation and basic legal or a £500 contribution to solicitors fees.

The lender says the new rates “further support a growing cohort of customers who do not meet the traditional lending criteria of the mainstream mortgage market.”

Bluestone sales and marketing director Reece Beddall says: “As we enter a new year, we have today made our fourth consecutive rate reduction since October, demonstrating our commitment to support our customers. This ongoing effort reflects our duty and responsibility to provide customers with affordable, accessible solutions, underscoring our dedication to being a lifeline for disenfranchised individuals striving to achieve their homeownership goals.”