By:
Tony MacRae
Bluestone’s chief commercial officer
This has presented a challenge as traditional lending structures can be restrictive for these complex borrowers.
The rise of non-bank lenders – such as Bluestone Home Loans – is helping to bridge the gap and offer this growing cohort of borrower a better opportunity to engage with the property market.
Utilising a specialist non-bank lender like Bluestone isn’t necessarily a sign of poor creditworthiness. Instead, it often reflects modern career paths: individuals turning a hobby into a career, dealing with financial hangovers from the pandemic, or simply not having the two years of pristine financials major banks require.
“The reality is these are just customers in a slightly different scenario situation or something may have just gone awry at a point in time, but they’re credit worthy customers,” said Bluestone’s chief commercial officer Tony MacRae.
“If you look beyond just the headline numbers, there’s a deal to be done there. And what this does is allow brokers to expand their business and to grow their business, which is really what is at the essence of what we try and do at Bluestone.”
“If you look beyond just the headline numbers, there’s a deal to be done there. And what this does is allow brokers to expand their business and to grow their business, which is really what is at the essence of what we try and do at Bluestone.”
- Tony MacRae.
With the rise of less traditional borrowers has come an influx of people leveraging alt-doc, low-doc, and SMSF lending.
This presents a golden opportunity for brokers in the form of diversification. Those who are tunnelling themselves into mortgages are missing out on a whole different calibre of borrower.
MacRae said he has witnessed first hand brokers let business “walk by the door” as they hadn’t dipped their toes into speciality lending.
He urged brokers to give Bluestone the “warts and all” when assessing a client: “Tell us what went wrong, tell us what the customer’s done, tell us what the customer’s going to do and [we’ll try to find] a pathway to be able to provide a solution for those customers.”
The forward-looking approach of Bluestone factors in the entire picture. Customers are unique and so their credit assessment should be too.
Service, speed, and simplicity are the three mantras Bluestone lives by and allows it to compete with the major banks. This relentless focus on broker support and efficient processes is achieved through:
The market is diversifying, and with it comes a powerful opportunity for brokers. By partnering with specialist lender like Bluestone, who offer deep expertise, personal service, and a common-sense approach, brokers can stop valuable business from walking out the door and provide solutions for a new generation of borrowers.
Tony MacRae
Bluestone’s chief commercial officer
Bluestone Home Loans has helped thousands of customers with a variety of financial needs.
As one of Australia and New Zealand’s leading non-bank mortgage lenders, we specialise in providing home loans to the borrowers the banks often overlook.
Since 2000 we’ve been here for those that are capable of the remarkable, those brave and curious enough to start their own businesses, who have incredible aspirations and those with unique paths but are still determined to create a fantastic life… and we believe that this shouldn’t get in the way of them owning their own home.
