Bluestone cuts clawbacks, launches investor mortgage waiver

Bluestone House Loans has reduce clawbacks on its prime product and introduced a restricted time waiver on funding loans.

It comes because the specialist mortgage lender goals to offer brokers with a broader and extra aggressive vary of choices.

Tony MacRae (pictured above), chief industrial officer at Bluestone House Loans, stated the corporate’s objective is to be the popular accomplice for brokers for non-standard lending.

“We see these initiatives as additional enhancing our choices to offer brokers with certainty of income and good worth options delivered with market main service and turnaround,” stated MacRae.

House mortgage waiver for wave of traders

For a restricted time, Bluestone will waive its 0.3% investor loading on all Residential Investor House Loans (excluding SMSF loans) submitted from August 1, 2024, and settled inside 90 days from utility approval date.

The choice comes amid heavy demand amongst traders who’re piling their cash into residential property regardless of greater rates of interest.

That is properly above owner-occupier and first house purchaser mortgage values, which rose 13.2% and three.4% respectively.

Bluestone continues to chop clawbacks

Bluestone has additionally now decreased the clawback interval from 18 to 6 months on Prime Alt Doc house mortgage functions settled from August 1, 2024.

MacRae stated this might ship “larger revenue certainty” when submitting offers for debtors on this cohort.

The announcement follows the non-standard lender chopping clawbacks by the identical timeframe to its close to prime and specialist house mortgage merchandise in April this 12 months.

In April, MacRae stated: “There was a lot debate within the trade across the equity of clawbacks and we consider on this product set – it is sensible to scale back the at-risk interval and we encourage brokers to discover non-standard lending as a method to develop their companies.”

Inside Bluestone’s new web site expertise

To cap off the bulletins, the model has additionally launched a brand new, improved Australian web site expertise for debtors and brokers at bluestone.com.au.

Nicole Avery, chief advertising and marketing officer at Bluestone House Loans, stated the corporate had been “busily working away” within the background, growing a brand new digital expertise designed to instil extra belief in debtors and encourage extra confidence in brokers.

“The expertise is extra aligned with the place we’re headed as a model and can proceed to evolve, however for now customers can get pleasure from a greater cell expertise and brokers now have a specialised Dealer Hub, with extra related content material and sources,” stated Avery.