UK: New interest-only buy-to-let mortgages released by Bluestone Mortgages

Bluestone Mortgages, a specialist mortgage lender has revamped its buy-to-let mortgage range to now incorporate an interest-only option targeting borrowers who wish to reduce monthly servicing fees.

The new interest-only buy-to-let mortgage is accessible to existing customers who are on Bluestone’s ‘Clear’ or ‘AAA’ products with a maximum loan-to-value rate of 80%.

The updated mortgage will also be available to first-time landlords investing in a buy-to-let property and first-time buyers. To be eligible for this product, a full expenditure and income calculation will be undertaken on both a capital and interest basis.

RFi Group data shows that when current landlords choose a buy-to-let mortgage, 37% of the state that has an interest-only option is their top-ranked attribute. Bluestone Mortgages could, therefore, be in a strong position to capture market share with its new product offering.

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