Bluestone Mortgages’ fee-free remortgage offering is now available for borrowers consolidating debts.

The updated product helps customers who are looking to improve their overall financial position by consolidating their existing debt, without having to pay any application fees.

It includes free standard legal work and a free mortgage valuation as part of the application process.

The product also offers no loan to value (LTV) restriction for complex credit customers up to 85% LTV.

This announcement comes after Bluestone updated its criteria for customers with an Individual Voluntary Arrangement (IVA) last autumn. 

Steve Seal, director of sales & marketing at Bluestone Mortgages, said: “According to the Trade Union Congress, unsecured debt hit a new peak of £15,400 per household last year. Debt is increasingly becoming an issue for many homeowners and we should be helping those who are actively looking to improve their financial position and consolidate debts.

“Our offering helps customers achieve this, without the added burden of upfront fees. This is what the specialist lending market does best, providing customers with affordable lending which fits their needs, and gives them the support needed to boost their future lending prospects.”