Bluestone Home Loans is upping the ante with a new key hire aimed at capturing a larger slice of Australia's growing non-bank lending market.
The Australian non-bank lender has tapped former Better Choice Home Loans National Manager Sales and Strategic Partnerships Paul Bakker (pictured above) as head of strategic partnerships at Bluestone. He reports directly to Tony MacRae, Bluestone's chief commercial officer.
In the newly-created role, Bakker has been tasked with growing aggregator partnerships, integration and education initiatives, as well as unlocking new market opportunities through product innovation and data-led insights, Bluestone said. He will work closely alongside Bluestone's leadership and distribution teams.
“Bluestone’s presence and market share has grown over the past two years to become one of the largest non-bank players in the market. Our goal is to be the clear leader in this space, and we’re doing that by doubling down on what sets us apart: strong relationships and exceptional service," MacRae said. "This role embodies that commitment, ensuring our aggregator partners continue to receive best-in-market support while we deliver mutual growth and shared value.
“Paul brings deep expertise and long-standing aggregator relationships, with a proven record of driving growth through collaboration and insight," MacRae continued. "His leadership will help us elevate the broker experience and accelerate Bluestone’s growth in the non-bank space. This is about creating a future where aggregators and brokers can work with us more seamlessly, backed by the right tools, education and insights to grow their businesses and better serve their customers.”
In addition to Better Choice Home Loans, Bakker's resume includes nearly two decades of experience in Australia's mortgage and finance industries, including stints with Westpac Group.
Sydney-based Bakker said Bluestone's product suite and service standards are what drew him to the role.
“My top priority is to work collaboratively with our partners to strengthen education, streamline integration and uncover new avenues for product innovation. Our goal is to make it easier than ever for brokers to do business with Bluestone," he said.
“Bluestone provides a wide range of specialised loan options to meet the diverse needs of brokers in today’s market, providing brokers with flexibility and choice," Bakker added. "I have also observed Bluestone is committed to making the complex simple with matter experts and industry-leading BDMs, with the goal of genuinely improving the broker's experience.”
Bluestone's expansion plans come amid a dynamic market. Lower interest rates, updated government housing schemes, rising rental yields and steady employment are fueling momentum. At the same time, soaring property prices, higher living costs and a tight housing supply are ramping up competition in Australia’s loan and property markets.
Meanwhile, Bluestone, which turned 25 this year, continues to charge ahead, busier than ever.
Earlier this month, the non-bank, launched two upgraded offerings: a new loan tailored for expats and higher loan limits for residential properties. In March, Bluestone revealed that its alt doc loan volume surged 260% in 2024, year-over-year — or up 39-fold since 2019. In June, the firm reiterated that its specialty lending business, which includes things like self-managed super fund (SMSF) lending, is a major growth driver, while also laying out plans to launch commercial lending and construction loan products by 2026.
"We're extremely bullish about 2025," MacRae told Australian Broker.
