Bluestone Home Loans has joined a growing list of non-bank lenders backing the Australian Finance Industry Association’s (AFIA) Finance Industry Code of Practice.
The lender, which formally adopted the Code on 27 August, joins the ranks of Pepper Money, Prospa and Brighte in putting its name behind industry standards that cover responsible lending, customer outcomes, ethical conduct, transparency and complaints handling.
"As a lender that has always placed responsible lending, transparency and customer outcomes at the centre of what we do, becoming a signatory to the AFIA Code of Lending Practice was a natural next step," Mark Jones, chief executive officer of the firm, told Australian Broker.
"Becoming a signatory to the AFIA Code of Lending Practice reflects who we are as a business," Jones continued. "We've always believed that giving more borrowers access to credit should go hand in hand with responsible lending, transparency and strong customer outcomes. This commitment reinforces the standards we hold ourselves to every day and demonstrates the important role non-bank lenders play in creating greater choice for Australian borrowers."
The AFIA Code is a self-regulatory framework that sets expectations for participating finance providers around how they conduct business and interact with customers. The association reviews and develops the framework in consultation with the government, regulators and other industry stakeholders.
By signing, Bluestone is committing to promoting principles, such as fair and ethical lending, clearer communication with customers, support for borrowers experiencing financial hardship or vulnerability, accessible dispute-resolution processes and stronger governance and compliance practices.
Jones added that by signing the code won't change any of Bluestone's lending policies or broker requirements.
"The Code provides an industry framework that reinforces many of the principles already embedded within our business," he explained. "While our core approach has not changed, becoming a signatory formalises our commitment to those standards and demonstrates our willingness to be held accountable to them.
"Our lending policies and processes have long been designed to support responsible lending and positive customer outcomes," Jones continued. "The Code complements that approach, rather than requiring a fundamental shift in how we assess applications or work with brokers. In practice, the Code supports the way we already work: providing clear communication, fair treatment of customers and a focus on finding solutions that meet borrowers' circumstances."
The CEO added the Code is expected to further strengthen the customer experience by reinforcing Bluestone’s existing "customer-first approach and our focus on maintaining high standards of conduct across our business."
That focus comes alongside Bluestone's own growth story, which reflects the rising need for specialty lending.
The non-bank, which turned 25 last year, continues to gain traction across Australia’s crowded non-bank lending sector. Earlier this year, the lender lodged $1.2 billion in new loan applications in a single month, following the expansion of its commercial property, residential construction and expat lending offerings, alongside further growth in segments including self-employed borrowers and self-managed super funds (SMSFs). The firm also continues to invest in its leadership team.
But it's not just Bluestone that is growing.
"The Australian lending landscape is evolving, and non-bank lenders play an increasingly important role in supporting borrowers whose circumstances may not fit traditional lending models," Jones said. "The Code demonstrates the maturity of the non-bank sector and its commitment to maintaining high standards while continuing to expand choice and competition for Australian borrowers."
