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Warning: This publication is intended for Bluestone accredited introducers and referrers only and is not to be distributed to anyone else, including consumers, under any circumstance.Voted Australia’s number 1 Specialist Lender by Momentum Intelligence’s Third-Party Lending Report: Non-Bank Lenders 2017 Survey.
Bluestone is committed to helping you assist your customers by saying yes when traditional lenders say no.
SOLUTIONS FOR• Self-employed & PAYG• Business Start-ups• Business Expansion• ATO debt• Defaults and Mortgage Arrears• Discharged Bankrupts• Debt Consolidation
PRODUCTSOur products are flexible to suit the varied needs of your clients.• Clean Slate• Lite Blue• Business Easy• Crystal Blue
BluestoneProduct Matrix
WHAT’S NEW?• Increase of LVR caps for BBB rating• Line of Credit (LOC)• Fixed interest rates available across all products
CALL 13BLUE bluestone.com.au SPECIALIST LENDING EXPERTS
Voted Australia’s No.1 specialist lender
Effective for applications received from 20 April 2017
4 SUBMIT APPLICATION
After gathering all required supporting documentation new loan applications can be submitted:
Via your Aggregator - Loans can be submitted via your aggregator software / Apply Online (www.applyonline.com.au)
Direct to Bluestone - Alternatively applications can be submitted direct to us via email [email protected]
Loan application forms and checklists are available from your aggregator software or by visiting bluestone.com.au
2 IDENT IFY APPL ICANTS CREDIT IMPAIRMENT LEVEL
Credit impairment level
Defaults - number of judgements, writs
& summons*
Mortgage or rent arrears (mths) Part IX & X ** Bankruptcy
Clear None < 1 Discharged None
AAA 1 < 2 > 12 months† > 3 years
AA 2 < 3 6-12 months† > 2 years
A 3-4 < 4 3-6 months† > 1 year
BBB† No Limit*** 4 or more < 3 months† Discharged within last year
* >24 months ignored, <$1,000 ignored | ** Up to date on all payments specified in arrangement | *** Subject to Bluestone lending criteria | †Line of credit is not available
CONF IRM ACCEPTABLE SECURITY LOCAT ION
Check online, over the phone or by contacting your BDM direct.
https://bluestone.com.au/AU/Mortgages/Broker/Calculators-and-Tools/ASL-Calculator 13BLUE (2583)
3
Application Process4 Easy steps
1
- not applicable to Crystal Blue
SELECT THE RIGHT PRODUCT
Crystal Blue - self-employed borrowers with an ABN registered for more than 24 months and PAYG borrowers, with clear credit.
Lite Blue - self-employed income with ABN registered for at least 12 months
Business Easy - self-employed income with ABN registered for more than 3 months
Clean Slate - fully-verified income for PAYG and 1 years tax returns for self-employed borrowers
2 | Product Matrix
FEES & CHARGES*LVR <60% <65% <70% <75% <80% <85%
Risk Fee - Crystal Blue 0.75% 0.75% 0.75% 1.00% 1.25% 1.25%
Risk Fee - Clean Slate/Lite Blue 0.75% 1.00% 1.25% 1.50% 1.75% 2.00%
Risk Fee - Business Easy 1.50% 1.75% 2.00% 2.25% 2.50% N/A
Loan Settlement Fee - $120 Legal fees - from $400 Establishment Fee - $990 Title Insurance Fee - From $350Investment Loadings Risk fee +0.50% Interest rate +0.50%
LOC Interest Rate Loadings Owner-occupied +0.50% Investment +0.90%
CRYSTAL BLUE - Clear credit applicantsOur Crystal Blue product is designed for self-employed (ABN > 24 months) and PAYG borrowers with a clear credit history who require a flexible solution.
Borrower TypeMAXIMUM LVR
<60 <65 <70 <75 <80 <85
PAYG & Self-Employed – Fully verified 5.44% 5.49% 5.59% 5.74% 5.89% 6.74%
Self-Employed – Alt-Doc 5.59% 5.64% 5.74% 5.89% 6.04% 6.99%
LITE BLUE - Self-employed applicants >12 month ABNOur Lite Blue product is designed for individuals, companies and trusts who have had an ABN registered for 12 months or more where income is supported by bank statements or BAS showing regular trading income or Accountant’s letter.
Credit Impairment Level
MAXIMUM LVR
<60 <65 <70 <75 <80 <85
CLEAR 6.04% 6.19% 6.29% 6.69% 7.39% 8.99%
AAA 6.24% 6.34% 6.54% 7.14% 7.94% 9.19%
AA 6.34% 6.49% 6.64% 7.29% 8.09%
A 6.49% 6.79% 7.14% 7.74% 8.89%
BBB 7.29% 7.74% 8.29% 9.34% 9.99%
BUSINESS EASY - Start-up. Self-employed applicantsOur Business Easy product is designed for individuals, companies and trusts who have been trading for less than 12 months where income is supported by bank statements showing regular trading income.
Credit Impairment Level
MAXIMUM LVR
<60 <65 <70 <75 <80 <85
CLEAR 6.54% 6.79% 7.04% 7.49% 7.99%
AAA 6.99% 7.49% 7.99% 8.54% 9.49%
AA 7.19% 7.69% 8.19% 8.94%
A 7.39% 7.89% 8.44%
BBB 8.39% 9.29% 9.99%
3 MONTH ABN
Product Overview
*Other fees and charges may apply.
CLEAN SLATE - Fully-verified applicantsOur Clean Slate product is designed for PAYG, self-employed, companies and trusts where income is supported by the evidence of payslips, full financials or tax assessment notices.
Credit Impairment Level
MAXIMUM LVR
<60 <65 <70 <75 <80 <85
CLEAR 5.79% 5.84% 5.94% 6.14% 6.94% 8.34%
AAA 6.09% 6.14% 6.24% 6.69% 7.39% 8.54%
AA 6.19% 6.29% 6.34% 6.84% 7.54%
A 6.49% 6.59% 6.84% 7.09% 8.34%
BBB 7.14% 7.54% 7.99% 8.89% 9.59%
LVR up to 85% owner occupied, 80% investment (75% interest only)Fixed interest rates are available at the same rate as variable across all products
NEW
NEW
NEW
| 3Product Matrix
Many of our customers are self-employed, and we understand the difficulties facing small business operators, both in terms of managing cash flow within a business, and in demonstrating serviceability when it comes to applying for a loan. Some of our customers have had credit problems, and to them, we aim to offer an open mind and an understanding approach.
Our CustomersBluestone’s loans are designed to be more flexible than those of traditional lenders. Our customers come from all walks of life and we aim to serve a broader and more representative cross-section of the community than many other lenders. This diversity includes:
✓ successful business people raising working capital to expand their current ventures,
✓ entrepreneurs in the early stages of starting a business, ✓ contractors working on a variety of short-term projects, ✓ people who are consolidating credit cards/store cards to reduce
their monthly repayments, ✓ borrowers with credit problems looking to put them in their
past, ✓ property investors raising funds to purchase another property, ✓ recent divorcees funding the division of their assets, ✓ recent arrivals to the country.
• Startup/business expansion capital (secured by residential property)
• Cash out options for business and personal purposes
• Payout of ATO debt
• Payout of other non-conforming lenders, private and/or solicitor finance
• Residential & lifestyle security up to 5 acres
SOLUTIONS FOR
• No credit scoring or LMI*
• Accept other lenders application forms
• All pensions (excluding Newstart) accepted
• Defaults < $1000 ignored
• Only 3 month ABN required for Business Easy
• Line Of Credit
• Fixed rates*Risk fee applies
POINTS OF DIFFERENCE
4 | Product Matrix
Bluestone Product GuideConsult your Bluestone BDM or the Broker Assist team for information regarding your specific scenario.All deals are considered on a case by case basis and approval is subject to Bluestone lending criteria.
CLEAN SLATE, LITE BLUE, BUSINESS EASY CRYSTAL BLUE
Full-time, part-time and contract employment Yes Yes
Probation and Overtime Income Yes Yes
Family assistance A+B, other centrelink and pension income (ex. Newstart) Yes Yes
Child maintenance Yes Yes
Rental income 80% of gross rent 80% of gross rent
ABNClean Slate - 24 months
Lite Blue - 12 monthsBusiness Easy - 3 months
24 months
GST registered 1 day 1 day
Acceptable income evidence - PAYG Last 2 payslips and 3 mths bank statements Last 2 payslips and 3 mths bank statements
Acceptable income evidence - Self-employed
Clean Slate - 1 years tax returns/NOA and 6 mths business and 3 mths
personal bank statementsLite Blue - 6 mths BAS or business bank statements
or Accountant’s letter and 3 months personal statements
Business Easy - 3 mths business and 3 mths personal bank statements
2 years tax returns/NOA and 6 mths business and 3 mths personal bank
statements or
12 mths BAS, 6 mths business and 3 mths personal bank statements
Genuine savings evidence Not required 5% of Purchase Price
Refinance mortgage and other debt statements Mortgages last 6 mths/others 1 mths Mortgages and Personal Loans - 6 mths
Credit Cards - 3 mths
Debt consolidation including business Yes Yes
Arrears, late payments and overlimits Unlimited, refer to credit impairment table (pg 2) None
Defaults, writs and judgements: >24 mths (paid or unpaid) Ignored None
<$1000 anytime (paid or unpaid) Ignored Ignored
>$1000 and within 24 mths Unlimited, refer to credit impairment table
Unlimited, refer to credit impairment table (pg 2) None
Payout tax debts Yes Yes
Payout solicitors/private and other loans Yes Yes (statement evidence required)
Discharged bankruptcy From 1 day discharged None
Current Part 9 or 10 agreement Yes None
Cash out Up to $200,000 dependent on credit impairment level Up to $100,000
Minimum loan amount Min $100,000 Min $100,000
Maximum loan amounts Subject to various LVR caps & locations Subject to various LVR caps & locations
Redraw available Yes Yes
Favourable purchases Yes Yes
Security type (dwellings only) Residential only Residential only
Rural residential and lifestyle security max size Up to 5 acres Up to 5 acres
Maximum Line of Credit (LOC) $500K $500K
Maximum split of total loan 50% (up to 50% of loan can be LOC) 50% (up to 50% of loan can be LOC)
Maximum LVR across all facilities 85% (80% for Business Easy) 85%
LOC/IO Period 5 years 5 years
Line of Credit
| 5Product Matrix
OTHER FEE INFORMATION
Account Keeping Fee $15 per month on all split accounts
Switching/Variation Loan Fee $250
Discharge Fee (plus agents costs) $250
Title Insurance up to $750,000 > $750,000
- From $350 - Quote Required
Valuation Fee up to $1,000,000 >$1,000,000
- Free - Quote Required
Capitalisation of Fees Fees can be capitalised for all loans, (excluding discharge fees) subject to the loan plus fees not exceeding credit impairment level maximum LVR for each product.
BORROWER INFORMATION
Australian Resident Must be a permanent resident residing in Australia
Borrower AgeMinimum - 25 years for Investment Properties where income is self certified - 18 years for all other loansMaximum - no limit (subject to independent legal advice)
Loan Term Minimum - 15 years Maximum - 30 years
Loan Amounts Minimum - $100,000 Maximum - subject to LVR caps & various locations
Loan Accounts Maximum of 4 accounts on any 1 loan with minimum amount of $50,000 per account
Number of Borrowers Maximum of 4 borrowers per loan
Companies
Company structure- Only 1 company per loan - Maximum of 4 directors- Unlimited personal guarantees required from all directors- Shareholders must be directors or spouse of the directors
TrustsFamily Trust structure- Only 1 trust per loan- Unit or discretionary trusts permissible (no hybrid trusts)
Lending Policies
6 | Product Matrix
ACCEPTABLE SECURITIES (population must be 10,000 within 10km)
Acceptable Unacceptable
Improved land (existing dwellings) Vacant land
Rural residential or lifestyle blocks up to 5 acres (2 hectares) Units in tower blocks greater than 10 storeys
Residential investment property Property greater than 5 acres (2 hectares)
Units in tower blocks up to and including 10 storeys Commercial, industrial or rural zoned
Residential units in tower blocks where the ground floor only has a commercial use.
Income producing properties (excluding residential investment properties)
Third party securities
Flood prone areas or those adjoining power lines, railway lines or highways.
Company share, native title, company title, stratum title, mining lease, crown lease or leasehold (excluding ACT)
Properties where the improvements are valued at less than 10% of the overall property
No more than 2 units
Construction, development or partially completed dwellings
Properties in poor condition
More than 2 dwellings on a single title
Owner builder, exotic construction, re-locatable or kit homes
Properties used for or within short term letting (holiday/ resorts). time
share, dual key or serviced apartments
Properties that once valued do not have at least three acceptable
comparable sales or state an extended selling period
Studio apartments
BLUESTONE CUSTOMER CARE
Existing Bluestone borrowers may be offered the opportunity to request a reduction to their current interest rate (variable only). Conditions apply.
| 7Product Matrix
SOUTH AUSTRALIA AND NTNicole SalamagaBusiness Development ManagerMobile: 0418 802 843Email: [email protected]
NATIONALRoyden D’VazNational Sales ManagerMobile: 0408 868 844Email: [email protected]
QUEENSLANDBill RobbState ManagerMobile: 0419 333 993Email: [email protected]
Reece HinchyBusiness Development ManagerMobile: 0477 006 559Email: [email protected]
VICTORIA AND TASMANIAEbony MaxwellState ManagerMobile: 0419 388 285Email: [email protected]
Shamith KannangaraBusiness Development ManagerMobile: 0499 999 472Email: [email protected]
Jessica HealeyBusiness Development ManagerMobile: 0438 191 322Email: [email protected]
NEW SOUTH WALES AND ACTCraig MealeState ManagerMobile: 0427 629 143Email: [email protected]
Anusha HaranBusiness Development ManagerMobile: 0499 999 512Email: [email protected]
Belinda GrayBusiness Development ManagerMobile: 0438 192 531Email: [email protected]
WESTERN AUSTRALIACameron FinnieBusiness Development ManagerMobile: 0427 219 865Email: [email protected]
Contact Details
Sales
APPLICATION ENQUIRIES:
13BLUE (2583)
ACCREDITATION:
13BLUE (2583)
Bluestone home loans are serviced by Bluestone Servicing Pty Ltd ACN 122 698 328 (Australian Credit Licence No. 390183) on behalf of the Credit Provider, Permanent Custodians Limited ACN 001 426 384. Terms and conditions, fees and charges, and Bluestone lending criteria apply. Any interest rate quoted throughout this publication is expressed as a nominal Annual Percentage Rate. The information in this publication, including interest rates, fees and charges, is given in good faith, believed to be accurate at the time of publication and subject to change.
Voted Australia’s No.1 specialist lender
CALL 13BLUE bluestone.com.au SPECIALIST LENDING EXPERTS
Voted Australia’s number 1 Specialist Lender by Momentum Intelligence’s Third-Party Lending Report: Non-Bank Lenders 2017 Survey.
