Enjoy a flexible home loan with Bluestone Group, even if you’re self-employed or have impaired credit
Bluestone Group was established in 2000 as a mortgage origination and securitisation business in Australia. To date, the company has originated more than $4.8 billion worth of loans for more than 22,000 customers.
Since the company is a risk-based lender, not a bank, the interest rate on all loans is determined by funding costs, loan-to-value ratios, the borrower’s credit, and mortgage/rental repayment history. This means that Bluestone Group will consider home loans for those with bad credit, discharged bankrupts or those with rental and mortgage arrears.
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Home loans provided by Bluestone Group
This variable rate home loan is designed for self-employed borrowers and trusts that have been trading for 12 months or more and have had an Australian Business Number (ABN) registered for the same time. The borrower must also be GST-registered if applying for this loan.
You can choose to make principal and interest repayments or interest-only payments for periods of three or five years. There’s no lenders mortgage insurance (LMI), and repayments can be made weekly, fortnightly or monthly. There are also redraw options and split loans are available. Borrowers for this loan will also have access to BlueWay, an all-in-one mortgage account complete with Salary Crediting.
This variable rate home loan is for borrowers who can provide full income details. This means the company or trust must have payslips or full financial notices or tax assessment notices.
Borrowers will have access to BlueWay, redraw options, interest-only options for three or five years, and flexible repayment options with weekly, fortnightly, or monthly repayment options available. There is also no LMI and split loans are available, as are further advances.
Existing borrower options
There are also options for existing Bluestone Group customers which include reverse mortgages and residential mortgages. Existing customers can increase their existing loan, or they can move their loan to a new security property. Existing customers are encouraged to contact Bluestone Group for information regarding these options, but keep in mind that conditions will apply.
How to apply for Bluestone Group home loans
In order to apply for any of the available home loans from Bluestone Group you’ll first need to make sure you meet the eligibility requirements. Currently, they require all potential borrowers to be a permanent Australian resident with a valid Australian address. They must also be at least 18 years old, or 25 years old if the borrower’s income is self-certified for an investment property.
Once eligibility is established, you should decide which available loan is right for you. Make sure you have all of your financial records available to make the application process easier.
Each loan comes with application fees. To apply for a home loan from Bluestone, please speak to a mortgage broker.