Bluestone Mortgages has extended its Help to Buy range to customers based in Wales and increased the loans' maximum term.
It was only last month that the lender had launched its Help to Buy range across England with a focus on accommodating borrowers with credit issues and complex sources of income.
It will now make these products available in Wales, with offers across all of its credit tiers and at up to 75 per cent loan-to-value (LTV).
Among the products are a two-year fixed rate at 4.92 per cent and 75 per cent LTV and a five-year fix at 4.49 per cent at 60 per cent LTV. Both come with a £1,495 fee.
In accordance with the maximum purchase price available under the government scheme in Wales, the maximum Help to Buy loan offered by Bluestone will be £300,000 and the lender has extended its maximum term in the range to 35 years.
Unlike the Isa of the same name, the Help to Buy equity loan mortgage is only available to borrowers buying newly built properties.
A Bluestone spokesperson said the lender offered free standard valuation on its Help to Buy range as an incentive to address the financial challenges many borrowers face when pursuing homeownership.
Steve Seal, director of sales and marketing at Bluestone Mortgages, said the range had been extended due to popular demand.
He said: "We’re very aware of the challenges underserved borrowers face when trying to step onto the property ladder, for example those with credit issues, or complex and irregular sources of income.
"Like the rest of England, there is a growing pool of these borrowers here in Wales, and we’re confident our range will help these customers benefit from the opportunity of the government’s Help to Buy scheme."
Pete Chappell, mortgage consultant at D&G Independent in North Wales, said he often comes across clients with unusual circumstances with regard to income or credit history.
He said: "Any lenders with more flexible criteria are very welcome in the market place and I very much look forward to submitting my first Help To Buy case with Bluestone Mortgages in the very near future."
rachel.addison@ft.com
