Bluestone Mortgages has announced significant cuts to its mortgage rates, offering a lifeline to first-time buyers and individuals facing credit challenges. They have rolled out rate reductions across a variety of their mortgage products. These cuts span both two and five-year fixed rate mortgages, as well as the Deposit Unlock scheme, which is specifically designed to aid first-time buyers.

Key Rate Reductions

• Two and Five-Year Fixed Rates: Borrowers can now enjoy rate reductions of up to 0.76%, with starting rates now as low as 6.34%. This adjustment is poised to significantly lower monthly payments for many.
• Deposit Unlock Scheme: Launched in January, this program targets individuals aiming to purchase new-build homes with just a 5% deposit. Rates for this scheme have seen cuts by up to 0.31%, further easing the path to buying a home.

Bluestone’s Commitment to Inclusive Lending

Reece Beddall, the sales and marketing director at Bluestone, emphasised the company’s dedication to serving those with adverse credit histories and first-time buyers, “At Bluestone, we are committed to supporting those customers with adverse credit who are unable to meet the traditional lending criteria of high street lenders, as well as those who are looking to climb onto the property ladder for the first time. These rate reductions are a part of our ongoing efforts to provide people with solutions that suit their unique circumstances so that they can make their homeownership dream a reality.”