Bluestone Mortgages has announced it is returning to its pre-pandemic maximum LTV lending on all products in its residential and buy-to-let (BTL) ranges.
From today, lending will now be available in Bluestone’s five credit categories up to a maximum of 85% LTV.
The lender indicated that qualifying loans on all credit tiers will continue to be processed using automated valuation models (AVMs), while the maximum loan size for residential loans will increase to £1m.
Having announced a suspension on new mortgage applications in April in response to COVID-19, Bluestone resumed lending on 1 June on all its products up to 75% LTV.
“Today’s news is testament to the work of the Bluestone team and the support of our funders and intermediary partners,” said Bluestone head of sales and marketing, Reece Beddall. “Over recent weeks, we have been focusing on ensuring we can return to our pre-COVID product range as quickly and efficiently as possible, and it is a delight to be able to announce this to the market today.
“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.
“We are confident that, following today’s announcement, we will be in an even stronger position to support borrowers over the coming months and as the crisis continues.”
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