The non-bank lender has announced that it has hired six new business development managers across three different states to help meet burgeoning demand.
In April, Bluestone Mortgages announced that it was refocusing on the near-prime space and cut its rates by up to 225 basis points across its entire suite of products.
The lender said that it was cognisant of the importance of providing “constant and consistent” support to brokers, especially when new products or campaigns are involved, and has therefore brought in six new BDMs across three different states.
Bluestone has welcomed a new BDM in Queensland, added two new BDMs in NSW (with a third expected imminently) and bolstered its Victorian BDM team by three people.
The new BDM in Queensland is Tanya Pead, a former business manager at Australian First Mortgage. Ms Pead first joined the finance industry with GE in 2003, and has since held multiple roles across personal lending, loan assessment, relationship management and business development.
In NSW, the two new BDMs are Adelaide Bank’s former BDM Kamsen Rajah and former Latitude Financial Services’ relationship manager, Carrie Samuels.
The three new VIC BDMs are:
The size of the Bluestone credit team has also increased, and there are plans for further growth on the horizon to meet the growing demand for their near-prime product.
Speaking of the expansion of the team, Bluestone’s national head of sales and marketing, Royden D’Vaz, said: “The business is ramping up its front-end support to ensure that we are ahead of the curve.
“We know a pet hate of brokers is when lenders aren’t able to cope with increased volume during a campaign or new product launch, and the response times blow out. That’s why we are not only hiring new BDMs but also loan coordinators and underwriters as well.”
The lender emphasised the “vital role” that BDMs play, especially “during this time of rapid policy changes”, adding that they are also “dedicated to helping their brokers grow their business by holding skill-building workshops and establishing referral relationships”.
Mr D’Vaz said: “As we continue to grow in the near-prime space, we will also continue to build our team. Support for this new initiative is vital and we want our brokers to know that we are well equipped to provide them the best possible experience.”
[Related: Bluestone enters near-prime market]
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