Bluestone Home Loans

Bluestone Logo

Bluestone is a provider of home loans. It is a non-bank lender and says its home loans may suit PAYG borrowers, self-employed borrowers, borrowers with alternative income streams and borrowers who have had  difficulty getting finance from other lenders.

What types of home loans does Bluestone offer?

At the time of writing, Bluestone offers the following four home loan products:

  • Prime: designed for borrowers with a clear credit and strong employment history.
  • Near Prime: designed for people with a clear credit history who want more flexibility with their home loan product.
  • Specialist: designed for borrowers with some defaults or other credit impairments.
  • Specialist+: designed for borrowers who are recovering from financial difficulties and have been struggling to get finance because of this.

Each loan offers a full doc and alt doc option, which refers to the kind of documents you have to provide to prove your income. Bluestone says full doc loans are designed for those who are not self-employed or have recent tax returns available. Alt doc loans are designed for self-employed borrowers who don’t have their most recent tax returns available.

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Bluestone home loan features

Depending on the product you choose, a Bluestone home loan may provide:

  • loan terms of between 15 to 30 years
  • loan amounts of between $100,000 to $2.5 million subject to location, loan-to-value ratio (LVR) and the product selected
  • ability to borrow up to 90% without paying lenders mortgage insurance (only available on the Prime Full Doc Loan for Sydney, Melbourne and Brisbane Metro owner occupied loans)
  • interest-only loans for three or five years
  • ability to consolidate debt
  • line of credit facility on some loans

The inclusions above represent a selection of the features that may be available with Bluestone home loans. Canstar is not making any suggestion or recommendation to you about a particular product. Additional conditions may apply to different features. Check upfront with Bluestone and ensure that you read the product disclosure statement (PDS) or other loan documentation to determine all the current loan terms and conditions for the product you are considering, and whether it meets your needs, before committing to it.

Bluestone home loans FAQs

Before getting started, you might first like to take a look at our applying for a home loan checklist for some pointers, and use the Canstar website to compare home loans with other providers to help find one that suits your needs.

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If you decide to apply for a Bluestone home loan, you can check if you pre-qualify for a loan through Bluestone’s website. This lets you see your individual indicative interest rate and get matched with a Bluestone personal loan consultant. It is not the same as pre-approval for a loan. Bluestone says it will ask you about the purpose of your home loan, the approximate value and location of the property and the size of your deposit or existing equity.

You can also complete a loan application form through the Bluestone website and contact Bluestone by phone or email.

To give you an idea of how making extra repayments could save you money in interest over the life of your loan, you might like to try our Extra Repayments Calculator.

Home Loans Extra Repayments Calculator

You may be able to make additional repayments on a Bluestone home loan. However, terms, conditions and fees may apply.

Bluestone may offer a redraw facility on some home loans. Fees and charges may apply using a redraw facility. Contact Bluestone for details.

If you’re in the market for a home loan, compare some of your home loan options with Canstar:

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Bluestone was launched in 2000 in Sydney. Now it provides home loans for Australian and New Zealand customers and says it has had over 48,000 Australian and 11,500 New Zealand customers. Bluestone says it lends to people with a variety of financial needs, including PAYG borrowers, self-employed borrowers, those with a clear credit history and those with credit impairments.

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This article was reviewed by our Sub Editor Jacqueline Belesky and Finance & Lifestyle Editor Shay Waraker before it was published, as part of our fact-checking process.

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Written by: Tamika Seeto | Last updated: July 28, 2021