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Lender gears up for third party re-entry

by Staff Reporter8 minute read
The Adviser

Jessica Darnbrough

After exiting the industry during the heart of the GFC, one of Australia's biggest specialist lenders is back with a bang.

Earlier today, Bluestone confirmed it would re-enter the third party distribution channel, after entering into an agreement with AFG.

"We are thrilled to be re-entering the market with one of our long standing partners in AFG," Bluestone's general manager of asset management Peter Wood said.


"By partnering the largest provider of mortgage broking services in Australia, Bluestone is committing to offering a genuine alternative to those borrowers whom may have been declined by the major banks."

AFG's general manager, sales and operations, Mark Hewitt believes the partnership will strengthen the range of options AFG members can provide to their customers.

"We believe that specialist lending is an option that is under utilized by brokers and we are very pleased to see Bluestone return to the market with the intention of reinvigorating the sector" Mr Hewitt said.

The partnership will provide Bluestone with access to AFG's 1800 members' nationwide and enable customers of its brokers to benefit from a broader range of home loan options.

As a member of AFG's lender panel, Bluestone will enable electronic lodgement of applications, via innovative NextGen online portal.

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