NZFSG/Loan Market and non-bank lender Bluestone have announced a 5-year partnership, which will see a number of new home loan products introduced to the market under the name “Select.”
The product range will be available through NZFSG and Loan Market mortgage advisers, and will focus on the prime, near prime and specialist lending niches. The companies say the new range will allow their advisers to diversify and grow their businesses, and to offer home loan products not currently available from any other provider.
“We are truly excited to introduce the Select range to advisers in our network and their customers,” NZFSG CEO Brendon Smith said.
“An adviser’s first priority is to find solutions that can help their customers reach their goals and improve their financial lives, and we believe these new products will enable our adviser network to achieve this for more borrowers with a wider range of needs and circumstances.”
“It has always been Bluestone’s mandate to find solutions for borrowers who don’t fit in with mainstream banking, and this partnership with NZFSG and Loan Market allows us to do this for an even wider range of Kiwi property buyers,” Bluestone Managing Director for New Zealand Peter Wood added.
“Borrowers under the Select program will benefit from individualised credit assessment free from automatic credit scoring, the ability to use a wider range of income sources when proving serviceability, and flexible full doc and alt doc lending options for both PAYE and self-employed borrowers.”
The home loan products will be available from all NZFSG and Loan Market advisers from 4 June 2019.