Bluestone Mortgages launches in Scotland

Michael Lloyd

November 6, 2018

Specialist lender Bluestone Mortgages has launched in Scotland, introducing its full product range there including residential and buy-to-let.

As part of the launch, Bluestone will accept home report valuations on residential purchase cases where these have been completed by a valuer on Bluestone’s panel.

Steve Seal, director of sales and marketing, Bluestone Mortgages, said: “We are delighted to be extending our services into Scotland at a very exciting time for Bluestone.

“Customers with credit issues, or non-traditional financial circumstances, are increasingly needing personalised services when trying to get a firm foot on the property ladder and here is where we felt there was a lack of competition and choice.

“Scotland, however, is no exception to the rest of the UK in needing tailor-made solutions. We’re always on the lookout for new ways to serve borrowers and we look forward to working more closely with our partners and brokers in Scotland.”

Bluestone’s residential and buy-to-let proposition will be on offer between 60% to 85% LTV and cover two, three, 5-year fixed rate terms.

Residential products start from 3.74% on Bluestone’s Clear rating, on a 2-year fixed at 60% LTV. Bluestone’s buy-to-let proposition starts from 3.99% on Clear rating, on a 2-year fixed at 60% LTV.

Ian McGrail, managing director, First Mortgage, added: “It’s great to see Bluestone Mortgages enter the Scotland market. Whilst we are seeing more lenders than ever trying to accommodate borrower types in England, this is not necessarily been across the breadth of the UK.

“We have ourselves recently launched our own Specialist team and along with Bluestone’s entrance, this will bring a much-needed offering to customers in Scotland.

“Looking forward, we are excited to see Bluestone’s progression in this market as well as the widespread effect it will bring to borrowers.”

This follows Bluestone launching into Help to Buy and an Individual Voluntary Agreement (IVA) via Sapphire Packager partners.

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