Residential  

Bluestone resumes pre-Covid lending

Bluestone resumes pre-Covid lending
 Credit: Joe Giddens/PA Wire

Bluestone Mortgages has resumed its pre-Covid maximum lending of 85 per cent LTV.

The maximum LTV is available on all residential and buy-to-let products, and across the specialist lender’s applicant credit categories.

In addition, the maximum loan size for residential loans has increased to £1m.

Reece Beddall, head of sales and marketing at Bluestone Mortgages, said: “Over recent weeks, we have been focusing on ensuring we can return to our pre-Covid product range as quickly and efficiently as possible.

“Ensuring underserved borrowers can continue to access the lending they need remains a priority for Bluestone and delivering an innovative and flexible proposition to these customer segments will continue to be crucial in helping us achieve this goal.”

David Hollingworth, associate director, communications at L&C Mortgages, commented: “The market is still changing and adapting to the ongoing impact of the pandemic and it’s good to see Bluestone continuing to expand its range and return to higher LTV brackets.

“There is bound to be a need for as many solutions in the market as possible and specialist lenders will play an important part in improving the range of options for those borrowers who may struggle to tick all the boxes on the high street.”

Bluestone had resumed new lending activity on all residential and buy-to-let products up to 75 per cent LTV in June, with a maximum loan size of £500,000.

In May the specialist lender resumed new lending activity as part of a phased return to ‘business as usual’ after the market shut down.

chloe.cheung@ft.com

What do you think about the issues raised by this story? Email us on fa.letters@ft.com to let us know.