Bluestone Announces New Reduced Fixed Rates
In changing markets, many borrowers are currently seeking out the piece of mind a fixed rate can bring.
Bluestone today announces new discounted fixed rates, which for a limited time will allow new borrowers to access rate reductions across all loan products of .20 bps for 2-year fixed term loans and .30 bps for 3-year fixed term loans. The promotion will remain in place as long as the interest rate market remains favourable.
For a limited time its fixed rates will start from 3.84% for clear credit borrowers with an LVR of 60% or less via Bluestone’s near prime product Crystal Blue.
Royden D’Vaz, head of sales and marketing at Bluestone, said “In the current market, a fixed loan term is an attractive proposition for many borrowers. Trust in financial institutions has been seriously impacted by the findings of the royal commission, and global funding conditions over the past year have seen a series of out of cycle rate adjustments by many lenders. Amid these conditions, fixing your rate can provide peace of mind and allow borrowers to budget with confidence.”
He continued, “With the current easing of funding pressures, now is a fantastic time to lock in Bluestone’s low rates. Beyond the benefit to our borrowers, we also hope the reduction will help our brokers have positive conversations with their customers, who may be pleasantly surprised that they can access rates that are comparable to major lenders.”
In addition to the new lowered rates across its product range, Bluestone has also announced policy changes affecting its Crystal Blue product, which will see self-employed borrowers without access to traditional income verification documents able to establish serviceability with 6 months’ business bank statements in conjunction with either 6 months’ BAS or an accountant’s letter.
D’Vaz said, “We are seeing a lot of self-employed borrowers with clear credit histories and excellent serviceability unable to access the loans they need to purchase their home or expand their business. With a majority of our borrowers self-employed, we are always looking for ways to help more of these borrowers achieve their financial goals.”