Bluestone Mortgages has announced a rate reduction across its product range and has brought its Right to Buy offering to the whole of market.

The lender is cutting rates across its residential, buy-to-let, Help to Buy and Right to Buy products and will lend up to 85% loan to value (LTV).

Rates are being reduced by up to 1.57 percentage points and will now start from 3.85% for a 60% LTV variable product.

Previously only available through limited distribution via Bluestone’s selected Sapphire Partners, Right to Buy will be available to whole of market on 17 May. Loans will be available up to 100% of the discounted purchase price, and up to 75% LTV open market valuation. Loans will be available at a five-year fixed rate, starting at 3.9% and will be accessible across all of Bluestone’s credit tiers.

Reece Beddall, sales & marketing director at Bluestone Mortgages, said: “By reducing our rates and expanding our proposition we hope to reinforce our commitment to support the growing number of customers with complex credit who are struggling to climb up or onto the property ladder.

“We believe it is our duty as a specialist lender to help those who have been traditionally underserved, giving them the opportunity to achieve their homeownership dreams.”