I didn't answer your original question, because firstly I didn't see it, and secondly I don't answer every question on here.
PD6678 2005 is a good source of information for mortars in the UK, but you'll have to pay for it unless you have access to the Construction information service. Unless you work in the trade it's not worth doing.
For a simple read, Google Graymont benefit of cement lime mortar. It will give you the basic reasons.
Plasticizer is an air entertaining agent. What it does is to introduce thousands of tiny air bubbles into the mix, which act as ball bearings and make a workable mix, which allows slightly less water to be used.
With lime added it's better at retaining water, which helps the hydration of the cement. Losing water early on in the process leaves voids in the mortar, as well as hydration being restricted.
There are other advantages to lime in the mix as well, but the extra cost means that plasticizers are often preferred.
Sorry I didn't mean that to be a personal attack. I just only got a few replies and I wanted to use the correct material for my repointing job. I would have been happy to use some lime in my mix if that was the right thing to do but as you can see from my thread, I only got a couple of replies and advice was mixed with a couple saying cement only and one saying NHL lime. Complete opposites, and no-one advised using hydrated lime.
The bluecircle product page for hydrated lime doesn't say much other than its an additive for workability. So again not much use.
It seems to me that the OP of this thread is also trying to do the right thing but coming up against the same problem I had, which is all over the web - inconsistent advice or information.
There are a number of issues I have found in this area, here are my thoughts.
1. Poor use of terminology. People say 'lime' like there is only one product, which isn't the case. There are various strengths of hydraulic lime (NHL3.5 etc) and there is also hydrated lime which is different, and lime putty which is different again. So when people say "use lime" which lime are they talking about?
2. Its unclear what the threshold is for lime use. We can all agree Im sure that in an 1850's stone cottage we should use a hydraulic lime (no cement), and that in a 1980's house we should use cement (no lime). But what is the crossover point and what are the criteria? My house, as with the OP of this thread, is 1930s, which is on the transition point between cement and lime. So which should be used, how do you decide? Both 'might' be fine and so maybe it doesn't matter, but to me that isn't optimum or factual decision making.
3. Huge inconsistency in advice. I could probably find the last 10 threads on here asking about lime mortar and the advice is different every time, with lack of clarity on product choice as I mention above. I notice youtube is full of lime repointing advice, but again poor explanation of product choice. It seems to me that on social media channels and youtube, lime use is a bit 'fad-ish' in that its being used as a way to generate more clicks etc but without clear explanation of when its actually required and when it isn't.
4. I got a few repointing quotes for my job because there was a small area which needed extensive brickwork repairs that I didn't want to do myself. Not one tradesperson who came to see the job mentioned the need for lime.