NZ Financial Services Group (NZFSG) advisers have embraced Bluestone’s white-label loans – lodging an impressive $250 million in applications within the first two months.
Bluestone’s Select Home Loans white-label product comprised a range of loan products which span the prime, near prime, and specialist niches.
It aims to provide a suitable solution for most borrowers who fall outside bank lending criteria – including self-employed borrowers, property investors, and those struggling with a chequered credit history. It also helps advisers to diversify their businesses and grow long-term value via best-in-class loan products.
“Seeing Select so enthusiastically welcomed by our advisers has been wonderful, as it proves that we were able to develop solutions that meet genuine needs of Kiwi borrowers as well as their mortgage advisers,” NZFSG chief executive Brendon Smith said.
Peter Wood, managing director for NZ at Bluestone, added: “The early response by the market has been truly heartening to see, and will guide us as we embark on developing new service and product innovations.”
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Sue Griffiths, Bluestone’s newly appointed head of sales for New Zealand, has expanded her business development team as part of the firms’ effort to ensure that Select was backed by industry-leading service delivery and back-end support.
Bluestone’s credit processing and loan support teams have also significantly improved in providing a smooth service delivery during the application process.
NZFSG and Bluestone are now working on further back-end improvements via a large-scale system integration that will be the first of its kind in the New Zealand market.
“As New Zealand’s largest adviser group, it is our priority to ensure our service and delivery platforms represent the best the industry has to offer, particularly with new regulations looming,” Smith said.
“As such, we will work with Bluestone to ensure the Select brand will continue to provide the highest value to our advisers and their borrowers, while benefiting from simple loan processes and high-touch personal service.”