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Lender slashes rates by up to 50 basis points
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Lender slashes rates by up to 50 basis points

James Mitchell 2 minute read

A leading non-bank lender has today announced rate cuts of up to 50 basis points to segments of their product range catering for self-employed and PAYG borrowers.

Bluestone Mortgages says the out-of-cycle move comes as a result of the group’s consistent product development and rate assessment.

“We expect the rate cuts, and the corresponding opportunity to secure a lower rate loan, will be well-received by borrowers at this ‘expense heavy’ Christmas period,” Bluestone Mortgages CEO Campbell Smyth said.

“The rate cuts coincide with the company’s recent product enhancements designed to provide more financial options to a greater number of consumers. In particular, the recent fixed rates and a line of credit facility, both of which are unique in the specialist lending space, continue to be well-received.”

Bluestone’s head of sales and marketing Royden D’Vaz said the non-bank lender is focused on providing brokers with products and features designed to assist and benefit more customers.

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“This rate cut will help more borrowers and make it easier for brokers to help their customers,” Mr D’Vaz said.

“We understand the challenges that brokers face on a daily basis, and we continue to look for ways to help our broker partners help their customers.”

Bluestone Mortgages – supported by an expanding team of BDMs and credit assessors – has been cementing its reputation in the mortgage industry as a specialist lender for self-employed and small business customers. 

“We encourage brokers to find out how they can help self-employed clients more often and, in the process, improve your value proposition, broaden your customer base and benefit from a new revenue stream,” Mr D’Vaz said.

[Related: Brokers prompted to consider 'slice' of specialist lending]

Lender slashes rates by up to 50 basis points
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James Mitchell

James Mitchell

James Mitchell has over eight years’ experience as a financial reporter and is the editor of Wealth and Wellness at Momentum Media.

He has a sound pedigree to cover the business of mortgages and the converging financial services sector having reported for leading finance titles InvestorDaily, InvestorWeekly, Accountants Daily, ifa, Mortgage Business, Residential Property Manager, Real Estate Business, SMSF Adviser, Smart Property Investment, and The Adviser.

He has also been published in The Daily Telegraph and contributed online to FST Media and Mergermarket, part of the Financial Times Group.

James holds a BA (Hons) in English Literature and an MA in Journalism.

 

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