Bluestone Home Loans

Call your BDM or a

Bluestone specialist on


Back to Insights and News

Broker success story: Bernard Desmond – PRIME

Borrowers with a deposit of less than 20% can often end up paying thousands in LMI, but not Bernard Desmond’s client. After being turned down by her bank, Bluestone was able to help her save $13k on LMI on a 90% LVR home loan in spite of a less than amazing credit report. 

Read what Bernard had to say about the scenario and his experience working with Bluestone. 

What was the customer’s situation?

This client was recommended to me by our real estate agent referral network. This client was interested in a property that was listed with our referral partner. During her discussions with the agents she suggested that she was keen to buy and make an offer but was having difficulty organising her finances. 

The agent referred her to us for a second opinion. After speaking with the client and understanding her situation, we quickly realised that she had only talked to her main bank where her wages are credited. She had very good income, but a lower deposit and not a great credit score when looking at her Equifax file in isolation. She just didn’t fit the traditional banks’ policy offering. 

We quickly workshopped this application with our BDM at Bluestone and before we knew it, she had unconditional approval. Bluestone was not only able to provide a quick turnaround time but also save the client in excess of $13k in lender’s mortgage insurance. Under the new Bluestone product offering for owner-occupied purchases, she was able to buy and get funding for 90% no LMI.

What made this deal unique or challenging? 

Credit score and comprehensive credit reporting and less than 20% deposit.

What product and rate did your customer receive? 

Prime Full Doc – 90% No LMI

Tell us about your experience working with Bluestone

Bluestone, and in particular our BDM Dayna, has been outstanding. Dayna is always available to assist and nothing is too much trouble for her. She always goes above and beyond and genuinely adds value to her brokers with her insight and knowledge of Bluestone’s offering.

Anything else you’d like us to know about the deal or your experience with Bluestone?

Great rate, prompt turnaround time, little or no fees and an overall great experience. Once the privacy forms are also made available digitally it will be an end-to-end digital offering. We are super excited to be partnering with Bluestone and can see ourselves doing a lot higher volumes this year than ever before.

Back to Insights and News

Need a quick answer on a loan scenario?

Speak to your local BDM about how Bluestone Home Loans can support your next deal.