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Changing our shape to fit your customers

To help you service more customers and grow your business, we’re bringing you some big improvements to our policy.

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Decreasing our servicing buffer to

2% across all products

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Removing cash out limits on loans

up to 90% LVR 

Evidence of purpose needed if the loan is >50% of the property value or >$200k.

Specialist & Specialist+ loans unlimited up to 80% LVR, up to $200k for over 80% LVR.

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Accepting Borrowers of Convenience

on investment loans

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Increasing our LVR on Near Prime

to 90%

Applies to Full Doc, Alt Doc, Owner Occupier, Investor, P&I and IO.

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Increasing the maximum exposure

limits to up to $5m

Limit amounts increase across all products. Weighted average of 80% LVR when total lending is above $3m.

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No minimum requirement for liquidity

in an SMSF

Increasing our LVRs and loan amounts across Australia

Sydney/Melbourne: maximum loan amount increased to $3m

Other capital cities & select regional cities:

Maximum loan amount increased to $2.5m and max LVR increased to 90%.

Central Coast and Newcastle regions added to the ASL, which includes Brisbane, Perth, Adelaide, Hobart, Canberra, Gold Coast, Sunshine Coast, Wollongong, Geelong, Byron Bay.

Other non-metro locations: maximum loan amount increased to $1.5m.

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Refer to our ASL postcode tool for more information.

We’ve improved our serviceability and flexibility and reduced requirements and paperwork for your customers with these helpful policy changes

 

Changes to help more customers
  • 6 months minimum ABN for Specialist and Specialist+ Alt Doc loans
  • No debt consolidation limit on Prime loans 
  • Unlimited Line of Credit up to 50% of total loan amount
  • Refinancing of private lenders with monthly repayments on Prime loans or where interest has been capitalised on Near Prime loans
  • Units built within 3 years capped at 80% LVR (reduced from 5 years)
  • No building storey limit in inner city areas
  • Clearing of Part IX & X Debt Agreements on Specialist loans accepted
Simplifying borrower requirements and paperwork
  • No notional rent requirement with proof of ongoing rent-free living
  • Exit strategy age increased to 50
  • Up to 4 guarantors on company and Trust loans
  • Non-permanent visa holders borrowers allowed with a citizen or permanent resident borrower
  • Part-time income annualised from payslips
  • 10 year minimum loan term, 40 year maximum loan term. For loans 31-40 years, servicing will be calculated over 30 years and an exit strategy is required for applicants aged 45+ years.
  • AVMs & Desktops on units
  • Desktops up to $2m property value in metro locations 
  • Loan increase allowed 3 months after settlement and no limit on number of increases
  • 2 recent payslips with 1 dated within 4 weeks of the application date now required for PAYG income verification
  • For payslips with a valid ABN, there’s no requirement to provide bank statements showing salary credits

Further details of our policy changes can be found in our Online Credit Policy and Product Matrix.

Bluestone Servicing Pty Ltd ACN 122 698 328 Australian Credit Licence 390 183 on behalf of the Credit Provider, Permanent Custodians Limited ACN 001 426 384. Lending criteria, terms and conditions, fees and charges apply.