Good news for self employed / Business owners

Some really great news: a new lender has decided to make home loans easier / more accessible for self employed people.  Bluestone announce today they have entered the near prime lending space. And to make their presence known, they have reduced rates by up to 225 basis points on some products.The features of the near prime products include:

  • ​Alt-Doc loans with income verification through BAS, business bank statements or accountant’s letter
  • Unlimited number of debts can be consolidated
  • ​Accepting alternative income streams
  • Defaults listed over 2 years ago and <$1,000 can be ignored
  • Mortgages arrears less then 1 payment cycle can be accepted
  • Paying out tax debts, business debts and private mortgages possible
  • Probation, casuals and short term employment

​This move into near prime is a (new) extension of their specialist lending focus, and comes at a time when more and more self-employed, PAYG and credit impaired customers are affected by the tightening criteria of the mainstream lenders. Bluestone’s focus on solution based lending and passion to get the deal done hasn’t changed.

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