Bluestone Mortgages today announced rate reductions across its entire fixed rate product range including two, three and five-year products.
The rate reductions on products such as AA, A and BBB tiers are aimed at customers with complex credit needs and those looking to repair their credit.
Customers in these categories could have the following up to four defaults registered in the last three years, up to three CCJs registered in the last three years, a current payday loan and up to four missed mortgage payments from 13-24 months.
Rates will be reduced by up to 80 basis points (bps) on Bluestone’s two and three-year fixed rate product ranges within these tiers, and by up to 60bps on its five-year fixed rate.
Bluestone Mortgages, part of the Shawbrook Group, said selected credit repair products are available up to a maximum LTV of 80%.
Bluestone Mortgages sales and marketing director Reece Beddall said: “As inflationary pressures continue to squeeze affordability; we are committed to supporting customers who do not fit the traditional lending criteria of high street banks. All too often customers with adverse credit get overlooked, and it’s our duty to provide them with solutions so that they can repair their credit while achieving their homeownership goals.”
