Frequently asked questions

Bluestone is a non-bank. This means we don’t offer transaction accounts or credit cards. Our home loans are funded in a different way to the banks, which gives us flexibility to offer a wider range of home loan products to fit our customers’ needs.

Bluestone’s head office is in Sydney, Australia, with a support team in the Philippines. We’re not a bank, so we don’t have branches.

Bluestone is funded by warehouse funding facilities. These warehouses are like a huge overdraft that we negotiate with major banks. For each loan we settle, we draw out money to pay our customers.

Bluestone is owned by Cerberus Capital Management, L.P. Cerberus is a global leader in alternative investing with over US$53 billion in assets.

The best way to apply is to take our Find your Fit journey. Answer a few questions to get an indicative idea of your rate and repayments, and leave your contact details so one of our team can get in touch and arrange a time to chat.

Our friendly loan specialists are on hand to help you with your loan application every step of the way. You can get in touch on 1300 608 658, contactus@bluestone.com.au or by filling out our enquiry form here.

We take a number of different factors into account when deciding how much you’re eligible to borrow. These include your income, expenses, any other debts and your financial history. We also look at the value of your security property and where it’s located.

Yes. Many of our borrowers are first home buyers. However, we don’t accept the first home buyer’s grant.

No – at Bluestone we don’t accept guarantors on home loans for individuals.

Yes – we don’t require what’s known as genuine savings at Bluestone. This means you can use gifted funds for your purchase.

Yes, you can apply for a home loan in a company name or a discretionary, unit or family trust. We allow a maximum of four applicants on a loan. If there is a company or trust involved, each director will need to be a guarantor on the application.

We offer a range of home loans for owner-occupiers and property investors, including borrowers who are self-employed or need an alternative way to prove their income.

To be eligible for a Bluestone home loan you need to be:

• An Australian citizen or permanent resident living in Australia
• Over 18 years old
• Employed (includes self-employed)
• Buying or refinancing an established residential property – not off the plan or construction
• An owner occupier or investor (your loan purpose will affect your rates)
• Looking to borrow between $100,000 and $3m.

At Bluestone, we don’t charge lender’s mortgage insurance (LMI), however we do charge a risk fee on some of our products.

Yes, it is! You can find more information about our offset account here.

Absolutely! Many of our customers are self-employed and we offer a few different ways for you to prove your income for a self-employed home loan using tax returns, BAS statements, business bank statements and more.

It is possible to get a home loan with bad credit, depending on the circumstances. At Bluestone we have loans designed specifically for borrowers who are recovering from previous financial difficulties. Get in touch with our friendly team to chat about your situation and find out if we can help.

In some cases, yes. We look at your situation as a whole, not just your past. If you’re back on track, there may be options to explore.

Have a chat with your mortgage broker, they can help you understand what could be possible based on where you’re at today.

Absolutely. Self-employed borrowers can apply for our loans with a variety of documentation, depending on how long the business has been up and running for.

Accepted documents may include:

• Accountant’s letter
• 6 months business activity statements (BAS)
• 6 months business bank statements
• Tax returns

Yes, our SMSF Property Investor Loan can be used to fund eligible commercial and residential investment properties in a compliant loan structure.

We support a wide range of commercial property types, especially those with strong demand and broad usability. These include:

• Strata office suites
• Small warehouses
• Retail shops
• Light industrial units
• Strata office suites
• Mixed residential and commercial premises

Bluestone Commercial Property Loans are designed with flexibility in mind and can be used for a range of purposes, including:
• Purchasing commercial property – whether for owner-occupation or investment
• Refinancing existing commercial loans – to consolidate or access better terms
• Accessing equity – for business growth, renovations, or other commercial needs

A construction loan finances the build of a new home or major renovation.

Instead of receiving all the funds upfront, the loan is drawn down in stages (often called progress payments) as the build moves through key milestones – like slab down, frames up and lock up.

Interest is only paid on the amount that’s been drawn down, and not the full approved loan amount. Once construction is complete, the loan transitions into a standard home loan.

The payments are made directly to the builder at various milestones during construction.

After each stage is completed and invoiced, we may confirm the work with a valuation report and then release funds from the loan directly to the builder, ensuring payments match completed work and the build stays on track.

Just email a copy of the receipt along with the Progress Payment Request Form to our specialist team and we’ll organise to release the appropriate amount of funds directly to the builder.

Bluestone’s Residential Construction Loans can be used to finance major renovations (like adding an extension or a complete rebuild) along with building new single or dual occupancy dwellings.

That means if you’re planning to build a standalone home or duplex, you’re good to go. Larger developments or multi-unit projects are not accepted.

Yes, however interest repayments will only be required on the amount of the loan that has been drawn down and paid to the builder.

Once construction is complete, the loan automatically switches to a regular home loan. Payments will remain interest only (for the remainder of the elected interest-only period) or until the borrower elects to switch to principal and interest.

We will confirm the new repayment schedule and terms as the loan transitions into a standard home loan.

We require an independent licensed builder to manage the project to ensure quality, compliance, and financial security throughout the build.

Yes, we offer the same flexible income verification and alt doc loans as our home loans.

We offer a few different ways for self-employed borrowers to prove their income, including tax returns, business activity statements, or business bank statements.

After settlement, any linked offset account will be closed along with the loan split it was attached to. If you had money in your offset account, those funds will first be used to reduce the payout figure (the amount required to close your loan). If any funds remain after the loan has been paid out, they will be refunded to you.
If you’re expecting a refund, we’ll arrange for any remaining balance to be returned once the account closure process is complete.

Once your loan is closed, any loan repayment direct debits linked to that loan will stop.
It’s a good idea to check your bank account and records after settlement to make sure everything is up to date.

Once your settlement date has been confirmed, access to your loan account, available redraw funds and any linked offset accounts may be restricted while we prepare for settlement.
If you may need access to these funds, we recommend transferring them before settlement is scheduled.
Please note: If your loan repayments or credits are currently being made via salary deposit or direct credit, you’ll need to make alternative arrangements and cancel these payments before settlement.

Fees and charges may apply when closing or refinancing your loan, including a discharge fee. These fees are separate from the payout figure required to repay your loan.
If you have a fixed-rate loan, break costs may also apply. Any applicable break costs or fees will either be included in your payout figure or advised to you separately.

A discharge can take up to 21 days to finalise.
The timing depends on the type of discharge, whether we need more information or a valuation, and when settlement is booked. Starting early helps avoid delays.

If you have a home loan secured by more than one property and would like to sell one of those properties, you may be able to apply for a partial discharge.
This allows one property to be released from your loan while the loan remains in place against the remaining property or properties.
As part of our assessment, we may require a valuation of the remaining property or properties and, depending on your circumstances, ask you to reduce your loan balance. Valuation and discharge fees may apply.

A home loan discharge removes Bluestone’s mortgage from your property. You may need a discharge when you sell your property, refinance to another lender, pay out your loan in full, or release a property while keeping your loan.

A valuation is an estimation of how much your property is worth. When you apply for a home loan, refinance or loan increase you will need to get a valuation of your security property to find out how much you can borrow.

A risk fee is a one-off fee that’s designed to protect the lender in the case of applications that are considered to be higher risk. Your application might be considered high risk because you don’t have enough documentation to prove your income, or you have a history of bad credit.

A comparison rate is there to help you understand the true cost of a home loan, including fees and charges, so you can easily compare different products and lenders.

When you apply for a home loan, you need to show your lender documentation to prove your income. Full doc, alt doc and low doc home loans refer to the type of income verification you use:

Full doc is when you have access to fully verified forms of evidence to prove your income (tax returns, notice of assessments, income statements).

Alt doc (also called low doc) is an alternative way to prove your income when you don’t have access to fully verified means. At Bluestone we have a number of flexible alt doc options for borrowers including business activity statements, business bank statements and/or accountants letters.

Read more about the differences between full doc, alt doc and low doc home loans here.

An interest-only home loan is when you only pay the interest on your loan, rather than repaying the principal (amount you’ve borrowed) as well as the interest. While an interest-only loan can be a good option in some circumstances, there are downsides so make sure you do your homework before making a decision.

Pre-approval is something many home buyers or investors get before they start house hunting. With pre-approval the lender has given you an estimation of how much you can borrow. Pre-approval isn’t a guarantee that you will be approved for a loan, but it gives you an idea what you can borrow so you can budget.

Conditional approval is when approval has been provided on the basis that certain outstanding conditions are met before formal approval can be given.

Unconditional approval is when you have applied and been approved for a loan. Unlike pre-approval, unconditional approval is a guarantee that you will be able to borrow a certain amount.

Home loan repayments are typically calculated daily and paid monthly, based on the interest rate for the chosen term for the interest portion of your repayment. For your principal repayment, your initial borrowing rate is divided by the months or fortnights in your loan term. These two amounts are then added and repayed on your chosen schedule. Bluestone’s repayment calculator is only a guide, particularly because we assume your interest rate will remain fixed through the whole term of the mortgage, which is often not the case in Australia.

We have a range of resources to help you understand your mortgages options in our insights section. We’re also working on a few more useful calculators for you in the background.

At the moment, no, our repayment calculator does not consider the impact of an offset account on interest accrued. So, if you have an offset, assume you’ll be a little bit quicker to pay off your mortgage than the projections we share in the graph. For accurate repayment insights that consider strategies like paying lump sums and utilising an offset account, we recommend speaking to your broker or seeking professional financial advice.

Once your settlement date has been confirmed, access to your loan account, available redraw funds and any linked offset accounts may be restricted while we prepare for settlement.
If you may need access to these funds, we recommend transferring them before settlement is scheduled.
Please note: If your loan repayments or credits are currently being made via salary deposit or direct credit, you’ll need to make alternative arrangements and cancel these payments before settlement.

Fees and charges may apply when closing or refinancing your loan, including a discharge fee. These fees are separate from the payout figure required to repay your loan.
If you have a fixed-rate loan, break costs may also apply. Any applicable break costs or fees will either be included in your payout figure or advised to you separately.

A discharge can take up to 21 days to finalise.
The timing depends on the type of discharge, whether we need more information or a valuation, and when settlement is booked. Starting early helps avoid delays.

If you have a home loan secured by more than one property and would like to sell one of those properties, you may be able to apply for a partial discharge.
This allows one property to be released from your loan while the loan remains in place against the remaining property or properties.
As part of our assessment, we may require a valuation of the remaining property or properties and, depending on your circumstances, ask you to reduce your loan balance. Valuation and discharge fees may apply.

A home loan discharge removes Bluestone’s mortgage from your property. You may need a discharge when you sell your property, refinance to another lender, pay out your loan in full, or release a property while keeping your loan.

If you’re using our new internet banking platform, you can access your account here. You should have received your login details in your welcome email but if you didn’t please contact customer service on 13 25 83.

If you have not yet been migrated over to our new internet banking platform, you can access your account here.

For help with internet banking please call customer support on 13 25 83.

If you’re dealing with financial hardship due to COVID-19, we may be able to help with reduced repayments, or a temporary suspension of your repayments. You can connect with our hardship team here.

We have a number of options available to customers who are unable to meet their loan repayments, depending on their financial circumstances and repayment history. These include reduced repayments or a temporary suspension of repayments.

Learn more here or contact our hardship team here.

There are a few ways to make extra repayments on the principal balance of your loan. You can set up an additional direct debit, use electronic transfer or even make a payment by cheque. Please be aware that fixed rate loans have a limit on extra repayments – contact customer service on 13 25 83 if you’d like to know more.

Contact customer service on 13 25 83 to discuss any changes to your loan.

If you have a Bluestone home loan and you’re looking to borrow more, you may be eligible to apply for an increase. Whether or not you will be approved depends on a number of different factors including your income, repayment history and the value of your security property.

Contact our customer service team on 13 25 83 and choose option 3 or 4.

You can check your available funds in redraw via internet banking or give our customer service team a call on 13 25 83.

Your nominated account is the bank account you use to make your loan repayments via direct debit. 

If you need to update or confirm your nominated account, give us a call on 132 583 (option 2) and we’ll help you out. 

You can only make outgoing transfers to your nominated account. This the account that you set up your loan repayment direct debits from.

By limiting transfers from your offset or redraw account to just your nominated account, we can reduce the risk of fraud and scams, especially those that target traditional banking systems. As a non-bank lender, we’re focused on simplicity and security. That means fewer loopholes for bad actors to exploit, and more peace of mind for you. 

Currently we only offer variable rates. Find out what rate you’d likely get by chatting to your broker.

As a non-bank lender, we generally have more flexible eligibility criteria than the traditional big banks.
Being a non-bank lender, we have the opportunity to provide flexible lending solutions that suit people who are self-employed, have low-documentation or alternative income, as well as those who may even have an imperfect credit history.

Yes, unconditional approval is when you have applied and been approved for a loan. Unlike pre-approval, unconditional approval is a guarantee that you will be able to borrow a certain amount.

We sure do! You can choose between principal and interest or interest only repayments. Check with your broker or adviser for which option is best for you.

Bluestone does not currently offer second mortgages.

Generally speaking, yes, investment home loan rates are commonly higher than rates for homes you live in. This is mainly because there’s more risk for lenders with investment properties.

At Bluestone, you can have up to a 90% LVR, if you meet our lending criteria for that threshold.

To determine what you can and cannot claim on your tax return, it’s best if you seek advice from a financial advisor.

Yes! Like our owner occupier loans, Borrowers can choose between interest only and principal + interest repayment options for their investment loans also. We recommend speaking to your broker about which option is best for you.

Bluestone does not currently offer any home equity loans.

Yes, of course! Reach out to our customer team here to request the change https://bluestone.com.au/contact-us/

Generally, to be eligible for a Bluestone Home Loan, applicants should have 6 months of activity on their ABN, along with our other criteria, such as:

• Australian citizen (including individuals living and working abroad) or permanent resident living in Australia
• Over 18 years old
• Buying or refinancing a residential property
• Looking to borrow between $100,000 and $3m

Depending on your circumstances, a Bluestone loan applicant may be able to put down a deposit as low as 15%, excluding any fees or associated charges.

Yes, however traditional banks usually have stricter rules for self-employed borrowers, especially when it comes to proving income.

At Bluestone, we specialise in helping self-employed people. We look at the full picture and can often offer more flexibility — like lower deposits or larger loan amounts than the banks might.

If you want to apply to Bluestone through a broker with less than 12 months of ABN history, it is still possible you’d be approved. Less than 1 or 2 years of ABN history is a greater risk, similar to customers who have a full-time employment history of less than 1 year at a company.

Self-employment is exactly what it sounds like – you work for yourself, and we recognise that. We also consider you self-employed when you have at least 25% ownership of a business.

To be eligible for a Bluestone home loan you need to be:

• An Australian citizen or permanent resident living in Australia
• Over 18 years old
• Employed (includes self-employed)
• Buying or refinancing an established residential property – not off the plan or construction
• An owner occupier or investor (your loan purpose will affect your rates)
• Looking to borrow between $100,000 and $3m.

At Bluestone, we don’t charge lender’s mortgage insurance (LMI), however we do charge a risk fee on some of our products.

In some cases, yes. We look at your situation as a whole, not just your past. If you’re back on track, there may be options to explore.

Have a chat with your mortgage broker, they can help you understand what could be possible based on where you’re at today.

SMSF lending is strictly for investment purposes. The property must be used to generate retirement income and cannot be occupied by the borrower or a related party.

Our SMSF loan is available for rural residential properties up to 2 hectares. Other criteria may apply, so we recommend speaking to your broker for advice on your eligibility.

We accept a wide range of both commercial and residential property types.

Yes, a corporate SMSF trustee (non-trading) is required by Bluestone. This helps ensure a clear separation between superannuation assets and personal assets, which is an important part of safeguarding the integrity of the fund.