Mortgage Choice launches new white label offering

The product is funded by Bluestone Home Loans (Bluestone) and builds on the group's existing relationship with them.

It marks the fourth white label offering to be released by the aggregator over the last three years, with the first - Ignite (funded by Pepper Money) - released in February 2020. Roughly 12 months later, the aggregator released Propel, backed by digital loan provider Australian Mortgage Marketplace. 

On 31 March of this year, Mortgage Choice unveiled SmartSelect, a rebranding of the former Smartline white label loan, Smartline Select.  It comes after REA Group, the owner of both Mortgage Choice and Smartline, merged Smartline into the Mortgage Choice brand. 

Speaking of the launch and the decision to partner with the non-bank lender, Mortgage Choice interim chief executive Anthony Waldron said: “Bluestone’s ability to service customers with more complex financial structures enhances our brokers’ product range and allows them to service specific customer segments.” 

Mr Waldron added that Amplify would be available to almost 1,000 brokers in its combined network.

He stated that the partnership with Bluestone comes at “a crucial juncture for Mortgage Choice” as its business transitions Smartline brokers into its realm to “operate under one brand and one system with an expanded lender panel”.

Bluestone chief customer officer James Angus added: “After a highly competitive selection process, we are delighted to have been chosen as a mortgage loan partner by Mortgage Choice.

“We’re looking forward to offering Mortgage Choice’s brokers a competitively priced home loan product suite underpinned by great service and market-leading turnaround times.”

He added that combining Mortgage Choice’s broking technology capabilities with Bluestone’s human approach to lending will “give brokers and their customers access to more choice, which in turn creates a more competitive home loan market”.

“Bluestone has been in significant acceleration mode over the past year and new white label partnerships are a key part of our growth strategy in 2022,” Mr Angus said. 

Bluestone first partnered with Mortgage Choice in 2018, joining the aggregator’s lending panel. 

Mortgage Choice then-CEO Susan Mitchell said at the time that the partnership aligned with the aggregator’s strategy to broaden its panel of lenders and cater to customers’ needs.

“Bluestone’s product set also adds greater depth of choice to our near-prime residential lending offering at a time when mainstream lenders are tightening their appetite for lending,” she said. 

[Related: Brokerages to integrate as one brand]