1.6 / 10

based on 20 reviews as rated by Mozo community

Bluestone home loans

Founded in 2000, Bluestone is an Australian financial services group with a range of specialist home loans for those who fall outside traditional lending criteria, including options for self employed borrowers. Check out the home loans on offer with Bluestone, including the rates, features and fees involved, below. 

What home loans do Bluestone offer?

Rates and fees verified as correct at 26 February, 2021. Other information correct at the time of writing. Advertiser disclosure.

Variable Rate Home Loans

Bluestone offer a number of options for different borrowers who are looking for a variable rate home loan, including the Prime Home Loan for owner occupiers and investors. The Prime Home Loan is available on amounts from $100,000 to $250,000 and customers can borrow up to 90% of the property's value, plus it comes with flexible features such as additional repayments and an online redraw facility. There are a number of fees attached to the loan though, but you can find out more about those, as well as the other details involved, by checking out the linked reviews below. 

Home loan repayments calculator

years

Product Rate Comparison Rate Service fee Upfront fee Monthly repayments  

2.64% p.a.

2.69% p.a.

$710

2.99% p.a.

3.04% p.a.

$710

3.54% p.a.

3.59% p.a.

$710

2.44% p.a.

2.49% p.a.

$710

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How are Bluestone home loans rated?

Mozo users have rated Bluestone home loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of home-loans
Bluestone home loans
Overall
1.6/10
Price
Features
Customer service
Convenience
Trust

20 Reviews

Recent Bluestone home loan reviews

Bluestone Home Loan review
Overall 1/10
High interest loan sharks.

My mother refinanced her mortgage with Bluestone and during this time of Covid-19 they did not reduce the interest rate which is close to 7% interest on her home loan. I called on behalf of my mother as my name is on as a 3rd party contact and I was told it was not what they do - disgusting especially at this time when rates are less than 1%. My mother is a pensioner and I am assisting to pay her loan which is about $600/week. Also because she is a pensioner we cannot refinance this Bluestone loan. Stay clear away from Bluestone there are plenty of other more reasonable and fairer lenders.

Read full review

My mother refinanced her mortgage with Bluestone and during this time of Covid-19 they did not reduce the interest rate which is close to 7% interest on her home loan. I called on behalf of my mother as my name is on as a 3rd party contact and I was told it was not what they do - disgusting especially at this time when rates are less than 1%. My mother is a pensioner and I am assisting to pay her loan which is about $600/week. Also because she is a pensioner we cannot refinance this Bluestone loan. Stay clear away from Bluestone there are plenty of other more reasonable and fairer lenders.

Price
1/10
Features
1/10
Customer service
2/10
Convenience
1/10
Trust
1/10
Less
Rozi, Queensland, reviewed 28 days ago
Bluestone Home Loan review
Overall 1/10
Appalling!

As others have said stay clear of this company for mortgages. Interest rates are not competitive. Customer service is appalling. Refused to discuss rendering any assistance and put me through to the hardship department when I was reporting my payment would be 2 days late. I have been bullied repeatedly by this mob. I sold my beloved house to get rid of this noose around my neck!

Read full review

As others have said stay clear of this company for mortgages. Interest rates are not competitive. Customer service is appalling. Refused to discuss rendering any assistance and put me through to the hardship department when I was reporting my payment would be 2 days late. I have been bullied repeatedly by this mob. I sold my beloved house to get rid of this noose around my neck!

Price
1/10
Features
1/10
Customer service
1/10
Trust
1/10
Less
Brenda, South Australia, reviewed about 1 month ago
Bluestone Home Loan review
Overall 1/10
Stay clear if you don't want to lose your home

If I had of been around when my father took out a reverse mortgage from these guys I would have done my research. Unfortunately for a company like this they thrive on the people that don't understand a hell of a lot. When my father borrowed against the home $15000 turned into $111,000 over 5 years that he had to pay. Instead of this company taking his house, we decided to sell the house and pay out the balance. They then decided they wanted another $20,000 on top of the $111,000 to exit. This company is nothing but a money hungry company that everyone needs to stay clear off. They are disrespectful to say the least and its immoral and unethical to offer a person a loan on their home and charge such an exorbitant interest rate.

Read full review

If I had of been around when my father took out a reverse mortgage from these guys I would have done my research. Unfortunately for a company like this they thrive on the people that don't understand a hell of a lot. When my father borrowed against the home $15000 turned into $111,000 over 5 years that he had to pay. Instead of this company taking his house, we decided to sell the house and pay out the balance. They then decided they wanted another $20,000 on top of the $111,000 to exit. This company is nothing but a money hungry company that everyone needs to stay clear off. They are disrespectful to say the least and its immoral and unethical to offer a person a loan on their home and charge such an exorbitant interest rate.

Price
1/10
Features
1/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Maisey, New South Wales, reviewed 7 months ago
Bluestone Home Loan review
Overall 0/10
Bluestone are parasites

I had a tax debt that our then mortgager(NAB) would not refinance. I approached my long term broker who recommended Bluestone. I must add that my credit score through Equifax is 1080 and I have a near clear mortgage repayment history with NAB. I have owned my business for 30 years. I employ 5 people and thankfully we don't require any government help, yet at least. Anyway, the low doc loan ended up being an every doc loan, the process took 3 months and the original offer of 6% became 8.09% at settlement. I was promised that my variable interest rate would be revised after proving I could repay the loan in the following months. I must also add that I was charged over $9500.00 fees for the loan plus $25.00 per month. I have now worked out that I am paying an additional $6000.00 per year that I don't know what for? It isn't coming off the mortgage. My LVR is 80% too. I have emailed them numerous times and asked for a rate review without success. The latest was back in February, Covid was just picking up and after numerous emails their official reply was that due to Covid 19 Bluestone were not in the position to review rates. Plus the usual we are not a bank and therefore are not dictated to by the reserve bank. They then had the audacity to mention their covid relief measures that may be available? How dare they use this pandemic to gouge hard working Australians! So basically, steer clear. If your broker suggests Bluestone get a new broker. I am now trapped because other financial institutions are not loaning money in these uncertain times. Stay clear of Bluestone!

Read full review

I had a tax debt that our then mortgager(NAB) would not refinance. I approached my long term broker who recommended Bluestone. I must add that my credit score through Equifax is 1080 and I have a near clear mortgage repayment history with NAB. I have owned my business for 30 years. I employ 5 people and thankfully we don't require any government help, yet at least. Anyway, the low doc loan ended up being an every doc loan, the process took 3 months and the original offer of 6% became 8.09% at settlement. I was promised that my variable interest rate would be revised after proving I could repay the loan in the following months. I must also add that I was charged over $9500.00 fees for the loan plus $25.00 per month. I have now worked out that I am paying an additional $6000.00 per year that I don't know what for? It isn't coming off the mortgage. My LVR is 80% too. I have emailed them numerous times and asked for a rate review without success. The latest was back in February, Covid was just picking up and after numerous emails their official reply was that due to Covid 19 Bluestone were not in the position to review rates. Plus the usual we are not a bank and therefore are not dictated to by the reserve bank. They then had the audacity to mention their covid relief measures that may be available? How dare they use this pandemic to gouge hard working Australians! So basically, steer clear. If your broker suggests Bluestone get a new broker. I am now trapped because other financial institutions are not loaning money in these uncertain times. Stay clear of Bluestone!

Price
0/10
Features
0/10
Customer service
0/10
Convenience
0/10
Trust
0/10
Less
Paul, New South Wales, reviewed 8 months ago
Bluestone Home Loan review
Overall 0/10
Loan sharks

Don't use these loan sharks! When I contacted Bluestone to seek a review of our interest rate in light of of the Covid-19 situation they claimed that unlike most other companies they would not be reviewing their interest rates because of Covid-19. They directed us to the hardship department which we clearly indicated we did want want to do as our priority is to keep paying our mortgage and not freeze our payments which would increase the total amount we owe and not help us in the long run. When most other companies are trying to assist their clients Bluestone just want to continue to gouge its clients. An absolute disgrace in the current environment when their rates are already significantly higher than a normal bank.

Read full review

Don't use these loan sharks! When I contacted Bluestone to seek a review of our interest rate in light of of the Covid-19 situation they claimed that unlike most other companies they would not be reviewing their interest rates because of Covid-19. They directed us to the hardship department which we clearly indicated we did want want to do as our priority is to keep paying our mortgage and not freeze our payments which would increase the total amount we owe and not help us in the long run. When most other companies are trying to assist their clients Bluestone just want to continue to gouge its clients. An absolute disgrace in the current environment when their rates are already significantly higher than a normal bank.

Price
1/10
Features
1/10
Convenience
0/10
Trust
0/10
Less
Nicole, Victoria, reviewed 8 months ago

What do you need to apply for a Bluestone home loan?

Like the idea of a home loan from Bluestone? You'll be able to start an application and even see if you pre-qualify via the Bluestone website, but before you get started you may want to gather some of the following bits of information together:

  • Personal details for each applicant (if necessary)
  • Contact details including a valid email address
  • Proof of salary (i.e. payslips) and evidence of other income including government payments and rental income
  • Statements for any liabilities including credit cards or other existing loans
  • A copy of your council rates notice
  • A copy of your driver's licence or passport
  • Home loan statements (if you’re refinancing)

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