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The February figure follows a period of expansion for the non-bank lender throughout 2025, during which it refreshed its brand, broadened its product offering, and increased its focus on broker distribution.
CEO Mark Jones said the result reflected investment in product capability and broker engagement.
“This milestone is the result of the work of our team. It comes down to a clear brand, deeper product capability and a broker experience we’re proud to stand behind,” Jones said.
He added that the lender would continue to streamline operations and build on broker partnerships to support further growth.
Expansion across specialist segments
Bluestone said that the strong result reflects strong demand in the specialist lending segment.
During 2025, Bluestone introduced new solutions targeting investor, expat, and specialist borrower segments, while also moving into residential construction and commercial property lending. The lender said it continued to invest in technology and credit capability to improve processing speed and consistency.
According to Bluestone, more than 90 per cent of February applications were from borrowers who fall outside traditional lending criteria, underscoring ongoing demand for non-standard credit solutions.
Recently, Bluestone was appointed to Loan Market Group’s commercial lending panel, expanding access for brokers supporting self-employed and commercial clients.
Chief commercial officer Tony MacRae said broker confidence in specialist lenders was strengthening amid evolving market conditions.
“Brokers are backing lenders that show up with speed, clarity and genuine credit expertise. February’s result reflects that shift,” MacRae said.
Catering to brokers
The result comes at a time when brokers are increasingly seeking flexible options for clients who do not meet major bank servicing or policy requirements.
Bluestone’s broker application volumes suggest continued growth in the non-bank and specialist lending space, particularly among underserved borrower segments.
Bluestone has been growing its broker channel since its brand refresh last year. Since 10 February 2025, the lender has reported a 61 per cent year-on-year increase in broker-submitted applications.
Looking ahead to 2026, the lender said it would maintain its focus on diversified funding, product development, and broker relationships as it seeks to sustain application momentum.
[Related: Brokers highlight growing demand for non-standard lending]