Must Read

June 2 2020 RBA maintains status quo amid calls to consider cuts
The central bank has held the cash rate at its effective lower bound but has been urged to consider ...
court gavel ta
May 29 2020 Court rules against bank for ‘unfair’ loan terms
The Federal Court has declared a number of loan contracts entered into by a lender “void” after ...
court gavel ta
May 27 2020 Lending officer sentenced for giving misleading information
A former lending officer has been sentenced in court after pleading guilty to five charges of giving...
asic ta 1
May 8 2020 ASIC delays BID implementation
The corporate regulator has announced that the introduction of the best interests duty will be pushe...
May 8 2020 Royal commission implementation delayed
The federal government has announced a six-month deferral of royal commission commitments for unl...
ME bank 850
May 8 2020 Bank backs down on redraw policy
A non-major has scrapped its controversial redraw policy following widespread, cross-industry critic...
Rankings and reports

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Latest Podcast

Ruan Burger
mortgage house

Steve Keramidas, Mortgage Compare Plus

mortgage house
Francesca Krakue 3 minute read

Breaking into specialist lending with Bluestone Mortgages has been delivering significant benefits for this broker’s business.

Mortgage broker Steve Keramidas told The Adviser that since starting to use Bluestone Mortgages, he has been able to provide his customers with a wider variety of flexible options in helping to make their dream of owning a home a reality.

Mr Keramidas has been working with Bluestone since he became accredited as a broker about eight months ago, and said he was “so surprised by how many customers we can help that I wasn't aware of before because they didn’t fit the criteria”.

“Before I used to knock them back, but with Bluestone being so flexible I can help them now – I was amazed,” he added.

“As a customer, if you've got any credit defaults, or any bad history on your credit files, Bluestone will definitely look at that. It depends on how many defaults you've got. They'll even look at bankruptcy and ATO debts, which some other lenders won't even look at it.


“And with Bluestone lo-doc loans, if a customer has got an ABN registered for a day or two, he or she can prove what sort of income they’re producing. Bluestone will be happy to give them a loan based on that, along with any financials and bank statements,” Mr Keramidas explained.

To brokers who may be considering adding specialist lending to their portfolio, Mr Keramidas pointed out that they will “be surprised that it’s not actually difficult at all”.

Mr Keramidas said that specialist lending now makes up approximately 30 per cent of his loan book.

His advice to other brokers: “Give it a crack, you’ve got nothing to lose. It’s not as hard as it might seem.

“There might be a little bit more work involved with collating more documents but that customer that you’ve assisted to get the specialist lending, he’s pretty much going to be there with you for a lifetime, because nobody else was there to assist him, and you did.”

Speaking to The Adviser, Bluestone Group’s national head of sales and distribution Royden D’Vaz added that while many brokers have a preconception that specialist borrowers can be difficult to deal with, “the reality is that the typical Bluestone customer is a good quality borrower who is poorly served by traditional lenders. Our customers come from right across the spectrum, from newly formed one-person businesses, through to doctors and lawyers”.

“Our BDMs are well equipped to walk the broker through the entire process and help them navigate through the internal requirements, and these borrowers are potentially another lead in 2-3 years, once their circumstances have changed,” Mr D’Vaz said.

Steve Keramidas, Mortgage Compare Plus
mortgage house
TheAdviser logo
mortgage house

Latest Opinion

Guy Callaghan
Key ways to help your SME clients secure a business loan
As the green shoots of business recovery begin, many of your SME clients will be needing to borrow funds to rebuild inventory levels, hire staff, buy ...
Linden Toll
Helping your clients land big contracts
It is hard for any business to really be planning the next 12 or 24 months, but that is exactly what the businesses who will survive this pandemic wil...
Sascha Moore
The upside of doing business in isolation
The top 15 perks that we’re bound to lament retrospectively ...


latest issue
The Adviser magazine latest issue
The Adviser magazine latest issue
Keeping the Lights On

Many small and medium-sized enterprises have been hard hit by social distancing measures implemented to contain the spread of the coronavirus. To help them keep the lights on, the federal government announced a raft of stimulus and ‘survival’ measures to cushion the blow. Here, we outline some of the key packages you need to know about.

The Adviser magazine latest issue
Go with the (Cash) Flow

One of the major challenges for any small business is having steady cash flow. Given the coronavirus pandemic resulting in business hibernation and closures, having adequate cash flow is crucial. Malavika Santhebennur outlines how brokers can help SMEs with their cash flow needs.

The Adviser magazine latest issue
Asset Assistance

As the deadline for using the instant asset write-off approaches, we outline what has been happening in the asset finance space and how SMEs can take advantage of the new package.

Read the latest issue of The Adviser magazine!
The number one magazine for mortgage brokers
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Read more