Bluestone Mortgages has relaunched its higher loan-to-value (LTV) limits across its residential and buy-to-let ranges.
Limits have been upped to a maximum of 85% LTV for resi products and 80% for buy-to-let.
Bluestone had reduced its limits to 75% LTV in June in a bid to maintain its service levels for its intermediary partners and customers, following increased demand.
Pivot ups LTVs and pushes loan to cost up to 90%
Reece Beddall, sales & marketing director, Bluestone Mortgages, said: “After making proactive changes to our maximum LTV lending in June, we’re delighted to relaunch at 85% LTV in such a short space of time.
“The fact we have relaunched ahead of schedule is a testament to the team’s hard work and passion to provide the solutions the complex credit market needs, along with a first-rate service to our brokers and end customers.
“This relaunch also follows recent changes to our lending criteria to support self-employed borrowers impacted by Covid-19; both of these announcements reinforce our commitment to continue supporting the complex credit market.
“As the UK emerges from lockdown, we will see a significant increase in the number of people with financial challenges, whether large or small, so it is crucial that we provide the solutions to ensure that underserved borrowers can access the lending they need.”
Adam Hinder, managing director, Simply Adverse, added: “We are delighted to see a key strategic partner in Bluestone returning to the market at 85% Loan-to-Value. The flexibility that the range will now provide in addition to the communicated increases in turnaround times will support our clients’ aspirations of homeownership.”
Stephanie Charman, head of strategic relationships, Sesame Bankhall Group, concluded: “The demand for specialist lending has accelerated as a result of the pandemic as people’s financial needs become more complex. Bluestone’s relaunch to 85% demonstrates its commitment to supporting the needs of this growing cohort of customers, no matter how complex or unique.”