Bluestone Mortgages has announced a rate reduction across all of its fixed-rate residential and buy-to-let mortgages.

The speclialist lender said the move was made to further support a growing number of people facing affordability challenges.

Bluestone is reducing rates by up to 50bps across its two, three and five-year fixed rate product ranges, with rates starting at 7.10% and lending up to 85% LTV.

The reductions are also included in Bluestone’s fees-free product ranges.

Reece Beddall, sales & marketing director at Bluestone Mortgages, said: “As the cost of living continues to put further strain on household and personal finances, we remain committed to providing brokers and their customers with the options and support they need to navigate these challenging times.

“Today’s rate reduction is testament to this, and we hope that it will provide a helping hand to those looking to achieve their homeownership goals in the current climate.”