Bluestone Home Loans is deepening its ties with Loan Market Group (LMG).
The non-bank lender has joined the aggregator's LMG commercial lending panel, as demand for commercial finance — and brokers who can write commercial loans — continues to gain traction Down Under.
"Since launching in November, we’ve seen strong interest from brokers who want more flexible options for their clients," Tony MacRae, chief commercial officer at Bluestone, told Australian Broker, referring to Bluestone's two latest product offerings: commercial property investment and residential construction loans.
"It's early days for us," MacRae continued. "But interest has been building steadily since late last year. As soon as we launched the product, brokers quickly signalled there was appetite for a non-bank option that brings a more relational, hands‑on approach to commercial scenarios."
The Bluestone–LMG tie-up is mutually beneficial: it expands non-bank lending options for LMG brokers as traditional banks tighten credit requirements, while also enabling Bluestone to capture a larger share of Australia’s growing non-bank market.
"We are thrilled to see this relationship grow with Bluestone’s inclusion on our commercial panel,” said Steve Scahill, LMG group executive for commercial finance. “This expansion provides an excellent opportunity for brokers. The demand for flexible commercial solutions continues to grow, and Bluestone brings real depth in the specialist and alt doc space.”
MacRae added: "Our commercial property loans offer solutions for more borrowers, including alt doc and SMSF [loans]; meaning brokers can support more of their clients’ goals in one place and feel confident they have flexible options when traditional lending is restrictive.
"Brokers are telling us they want more choice for clients who sit just outside the bank's appetite," he continued. "Their clients are looking to move quickly, and need lenders who understand their full story, not just the numbers. Our credit approach, fast turnaround times and broker-first mindset are driving that demand. Broadening our distribution supports that demand and helps brokers place more deals with confidence."
Bluestone's move into residential construction and commercial property investor loans last spring came after adding expat loans and residential loans with limits up to $5 million in October.
The non-bank's expanded product suite and its inclusion on LMG's panel reinforce its position in an increasingly competitive lending landscape. Bluestone, which turned 25 last year, is well-positioned to compete.
Last March, Bluestone revealed that its alt doc loan volume surged 260% in 2024, year-over-year — or up 39-fold since 2019. Three months later, the firm reiterated that its specialty lending business, which includes things like self-managed super fund (SMSF) lending and self-employed, are major growth drivers.
Expansion plans continued in October when Bluestone tapped former Better Choice Home Loans National Manager Sales and Strategic Partnerships Paul Bakker for the newly-created role of head of strategic partnerships at Bluestone.
Bluestone is now available on both residential and commercial panels at LMG. Meanwhile, brokers with a clear view of the full lending landscape are better positioned to grow their client base and increase revenues.
