Bluestone Mortgages has surpassed the $1 billion milestone in settlements, with more than half of that coming in the last 12 months.
The brand, which began originating loans in the 2014 financial year, has revealed that it has now settled more than $1 billion of loans.
Speaking to The Adviser, Royden D’Vaz, national manager – sales, marketing and distribution at Bluestone Mortgages, said that a large part of the recent pick-up has been increased awareness of the brand, such as winning the specialist lending category of the Third-Party Lending Report: Non-bank Lenders and attractive turnaround times.
Mr D’Vaz said: “The brand has always been strong, but in the past 18 months we saw the momentum really build. Seventy-one per cent of that number was done in the last 18 months, and 54.4 per cent of that $1 billion came in the last 12 months.”
He continued: “We bulked up the team from a sales point of view, our credit team was increased to meet the demand, our strategy was very much sticking to what we know best and keeping it very simple. So, we stuck to our core business and brokers learnt what a Bluestone loan looked like. Whether that be for a credit-impaired client or someone who is self-employed, we’re known as a specialist lender.
“We don’t want to be everything to everyone. We are very specific in what we do and we know that this is what we do well, so we want to stick to that. So, we’ve been very specific in what we do and our brand has built up from there.”
Mr D’Vaz added that the support teams have also been crucial in reaching the $1 billion milestone, as have turnaround times, which he said were “very good” and had been “a huge focus” for the company.
Bluestone Mortgages said that it looks forward to achieving its $2 billion mark, which Mr D’Vaz said he had “no doubt would be reached a lot more quickly” with the company’s momentum.
[Related: Bluestone accepts VOI reports]
The non-bank lender has revealed it will expand its product and c...
The major bank saw a 45 per cent increase in mortgage application...
The non-major bank has reduced variable rates by up to 20 basis p...