The UK mortgage market has seen a major shift in recent years, with the emergence of Bluestone Mortgage as a major player. The company has recently announced that it will cease buy-to-let lending in order to focus on residential mortgages. This move is seen as a sign of the changing times in the mortgage market, as more lenders are turning away from buy-to-let lending and towards residential mortgages.
Bluestone Mortgage is a relatively new lender in the UK mortgage market, having been established in 2018. The company has quickly become a major player, offering competitive rates and a wide range of products. However, the company has now announced that it will no longer offer buy-to-let mortgages, instead focusing on residential mortgages. This move is seen as a sign of the changing times in the mortgage market, as more lenders are turning away from buy-to-let lending and towards residential mortgages.
The move away from buy-to-let lending is likely due to the increased regulation of the sector in recent years. The government has introduced a number of measures to protect tenants and landlords, including stricter affordability checks and rent caps. These measures have made it more difficult for lenders to offer buy-to-let mortgages, and many have chosen to focus on residential mortgages instead.
The decision by Bluestone Mortgage to cease buy-to-let lending is likely to have an impact on the mortgage market. Buy-to-let lending has been an important part of the market in recent years, and its absence could lead to fewer options for landlords looking for finance. However, the move could also lead to more competition in the residential mortgage market, as lenders focus on this sector instead.
Overall, the decision by Bluestone Mortgage to cease buy-to-let lending is seen as a sign of the changing times in the mortgage market. More lenders are turning away from buy-to-let lending and towards residential mortgages, likely due to increased regulation of the sector. This could lead to fewer options for landlords looking for finance, but could also lead to more competition in the residential mortgage market.