We’ll be updating this page with helpful FAQs regarding our recent business update regarding our New Zealand operations.

What will happen to my deals in the pipeline currently? 

• We will cease to accept new applications from 30 August 2024.
• All deals not settled by 25 October 2024 will expire. 

 

What happens to clawback? 

• We expect that existing loans will continue in line with the loan agreements. If you have a particular deal you’d like to discuss, please reach out to sales.support@bluestone.net.nz

 

What happens to payment of commissions and broker trails?

• Commissions will be paid as per our current aggreements with your aggregator for loans settled before 25 October 2024.
• Trail payments will continue to be honoured.

 

Who do I contact for support with an existing deal? 

• You will still have access to your BDM and sales team for support to ensure your deals are well managed through the pipe.

 

I have a deal approved prior to this announcement, that is not expected to settle until after 25 October 2024. What can I do?

• The expiration date of 25 October 2024 will still apply. Please reach out to your BDM as soon as possible to discuss.

 

What will happen to my existing customers, who will service their loan? 

• Nothing will change for your customers in the short term, Bluestone Home Loans will continue to service and support your customers. 
• Should sale be the outcome, we can provide confidence that the buyer has a credible reputation and will continue to service customers well. 

 

Can customers make any changes to their loans during this period?

• Existing loans can continue to be managed normal and still have the ability to:
  • make repayment changes
  • redraw
  • make principal reductions
  • change fixed to variable rates on the same loan
  • change repayments from interest only to principal and interest 
  • change between an investor loan and owner occupier loan types
  • request a partial or full discharge
• However from 30 August 2024 you will no longer be able to: 
  • top up a loan
  • apply for a new loan 
  • make security substitutions
• If you have a particular client or deal you’d like to discuss, please reach out to sales.support@bluestone.net.nz