Specialist lender, Bluestone Mortgages, has made changes across its buy-to-let mortgage range, including the introduction of interest-only products aimed at customers looking for reduced monthly servicing costs.

Interest-only buy-to-let mortgages will be available for customers on Bluestone’s ‘Clear’ or ‘AAA’ products with a maximum loan-to-value (LTV) of 80%.

Top slicing with income will be available on all interest-only buy-to-lets, with a minimum rental income of 112% interest coverage ratio (ICR). The ICR for basic rate taxpayers will be 125%, and 140% for higher rate taxpayers.

Steve Seal, director of sales and marketing at Bluestone Mortgages, said: “Strengthening our buy-to-let proposition is a major development for us and a key part of our ongoing development plans and growth strategy.

“As a specialist lender, we are committed to providing suitable finance solutions to those who are currently underserved, or who have been excluded by mainstream lenders.

“With our flexible products and market-leading BTL lending criteria, we are confident that these improvements will provide customers with affordable borrowing solutions that suit their individual circumstances.”

All products will be available using a full income and expenditure calculation where the ICR minimum is not achieved.

In addition to the new buy-to-let proposition. Bluestone Mortgages have recently reduced their rates across all credit tiers and LTVs!

For more information contact the lending team on 0800 368 1833.