Bluestone Mortgages has issued further rate cuts across its two and five-year fixed rate products and its Deposit Unlock scheme.

The reductions have been made to support those with adverse credit and first-time buyers looking to get onto the property ladder.

Rates have decreased by up to 76bps across the lender’s two-year and five-year fixed range, with rates now starting at 6.34%.

Bluestone has also reduced rates by up to 31bps on its Deposit Unlock, a scheme which the lender started to offer in January. Bluestone became the first and only specialist lender in the market to offer Deposit Unlock to first-time buyers, a mortgage guarantee scheme created to help borrowers secure a new-build home with a deposit of only 5%.

Reece Beddall, sales & marketing director at Bluestone Mortgages, said: “At Bluestone, we are committed to supporting those customers with adverse credit who are unable to meet the traditional lending criteria of high street lenders, as well as those who are looking to climb onto the property ladder for the first time.

“These rate reductions are a part of our ongoing efforts to provide people with solutions that suit their unique circumstances so that they can make their homeownership dream a reality.”