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Bennett Richardson 00:00:01 
Hello everyone, and welcome to this Australian Broker panel discussion featuring non-bank Bluestone and their special approach to broker-lender relationships. Today we'll be discussing how service and people matter at Bluestone just as much as product and price when it comes to Australia's lending markets. 

We’re privileged to have Tony McRae, Chief Commercial Officer at Bluestone, Aaron Taylor, Head of Non-Standard Lending, and Richard Chesworth, Head of Specialized Distribution. All three are based in Sydney. Welcome to you all. 

To kick off, I’ll start with a group question before moving into specific areas. Tony, in a competitive market, what makes brokers come back to Bluestone beyond just product features or pricing? 

Tony McRae 00:01:00 
We started a journey a couple of years ago centered around delivering great relationships and great service. By relationships, it was about ensuring we had the right people and the right number of people—particularly BDMs—on the ground and accessible to brokers. 

We changed our leadership structure so we had more local leaders, giving aggregators and brokers access to senior people within Bluestone. On service, we realized we were too complicated and hard to deal with, so we stripped that back and simplified the process—eliminating unnecessary requirements and documentation. 

Our team takes a common-sense approach to approving loans. That means when a broker submits a deal, they know they’ll get great service, fast turnaround, and in fact, we halved the time to unconditional. Overarching everything we do is an education-first approach—helping brokers grow their business by showing them ways to assist customers they may have thought were not suited to lending. 

Bennett Richardson 00:02:27 
Excellent. Aaron, what’s your perspective? 

Aaron Taylor 00:02:32 
Brokers come back to us because they like working with our people. Our BDMs support brokers with different products and different ways of looking at customers across a range of scenarios they might not have considered. 

Richard and I often talk about finding new ways to help brokers grow their existing customer base and expand their businesses. 

Bennett Richardson 00:03:01 
Thank you. And Richard, how about you? 

Richard Chesworth 00:03:04 
I’d reinforce what Tony said—it’s about ease of use and consistency, which are key for brokers. But beyond that, it’s the depth of support. 

We have not only BDMs out there but also supporting teams behind them. In our roles, Aaron and I provide extra support directly to brokers. At the end of the day, brokers want a lender who can execute and deliver on time, and that’s where our focus lies. 

Bennett Richardson 00:03:38 
Great. Let’s move along. Can you illustrate how this human connection—through BDMs, credit assessors, or support staff—translates into real business growth for brokers? Richard, let’s start with you. 

Richard Chesworth 00:04:01 
We’re predominantly a non-standard and specialized lender. The key is working with the broker to understand the customer story, really getting a complete picture, and providing a “how to” approach in delivering solutions. 

There are many cases where the broker may not have a solution, but by speaking to Bluestone, we can look at things differently and deliver outcomes. 

Bennett Richardson 00:04:30 
Okay, Aaron? 

Aaron Taylor 00:04:33 
The type of business we write—non-standard and specialized products—doesn’t apply to every loan. It might only fit one in ten or one in twenty customers. 

For us, it’s about understanding the customer’s story and focusing on ways we can support them. Brokers connect with our assessors and BDMs because they can get on the phone and explore solutions that may not have been obvious. 

Life happens, and sometimes mainstream lenders say no. Having a lender who understands the story helps brokers grow their business and support both existing and new customers. 

Bennett Richardson 00:05:20 
Thank you, Aaron. And Tony? 

Tony McRae 00:05:26 
Brokers are at the center of everything we do. We originate only through brokers. Our business, systems, and processes are built entirely around that model. 

This means the whole organization is aligned to deliver great outcomes and service for brokers, which in turn means great outcomes for customers as well. 

Bennett Richardson 00:05:59 
That’s a great answer. Next up is education. How does Bluestone invest in broker education, and what kinds of insights or tools do brokers find most useful? Tony, can you start? 

Tony McRae 00:06:14 
We approach this in many ways. We hold regular webinars. For example, we recently held one with Tim Lawless, giving brokers a perspective on the property market. Richard and Aaron also travel across the country to run workshops with brokers, shining a light on how to help customers that banks often make too difficult to deal with—or simply turn away. 

We’ve also just finished a roadshow around Australia, which was a great opportunity to engage face-to-face with brokers, gather real-time feedback, and show them how to grow their business. 

It’s not just about policy or products. It’s about identifying missed opportunities and encouraging brokers to think about their business beyond transactions. All of this is supported by our BDM team, who work daily with brokers to workshop deals. 

Bennett Richardson 00:07:42 
Thank you. Aaron, what’s your view? 

Aaron Taylor 00:07:48 
Having been a BDM at Bluestone, I’ve learned that brokers love discovering new ways to help their customers. But it’s difficult sometimes—you don’t know what you don’t know. 

For brokers coming from banks or who are new to the industry, it can be hard to identify opportunities. That’s where working with a non-standard lender is valuable. Richard and I spend a lot of time with brokers, helping them uncover opportunities through referral partners or new channels. 

We also run many face-to-face events, which allow us to connect directly with brokers. On top of that, we hold regular webinars that provide fresh ideas and perspectives. Ultimately, a broker’s customer is a customer for life. It’s not just about today’s transaction—it’s about supporting that customer’s journey for years to come, moving from non-standard products back to prime lending down the track. 

Bennett Richardson 00:09:09 
Thanks, Aaron. Richard, to round this off? 

Richard Chesworth 00:09:13 
We live in a world with so much information, but sometimes we simply don’t know what we don’t know. Our role is to simplify complexity and give brokers the confidence to manage their customers’ journey. 

It’s important that brokers grow with their customers. That’s where our support comes in—through webinars, face-to-face sessions, and practical “how-to” guides. At the end of the day, it’s about confidence and capability. 

Bennett Richardson 00:09:53 
Bluestone specializes in helping brokers navigate complex or non-standard lending. How do you support them in building confidence and capability, particularly around SMSF, alt doc, or self-employed lending? Richard, let’s start with you. 

Richard Chesworth 00:10:10 
In SMSF lending, it comes back to education and support. It’s not just “this is an SMSF loan.” There’s a lot brokers need to understand. 

We help them frame the opportunity—especially around refinancing. Many SMSF loans are not being refinanced, simply because accountants or planners don’t think of it. That’s a big entry point. 

We also stress the importance of keeping conversations focused on credit advice. Sometimes it’s not about giving advice but asking the right questions that guide customers to their accountant, advisor, or solicitor. 

Finally, brokers should work closely with solicitors and accountants. Many of them don’t see SMSF deals regularly either, so collaboration ensures the customer is properly supported. 

Bennett Richardson 00:11:37 
Excellent advice. Aaron, your thoughts? 

Aaron Taylor 00:11:43 
The key is removing complexity and focusing on the customer’s story. We look at where the customer is now, their plans for the future, and work with brokers to make complex products simple. 

Take alt doc loans as an example. The first one can feel daunting—you might not know how to read a business activity statement or work with an accountant. But after doing a few, brokers become confident. That confidence helps them grow their business by expanding into new product areas and supporting more customers. 

Helping brokers build that confidence is one of the most rewarding parts of what we do. 

Bennett Richardson 00:12:59 
What are some of the strategic decisions or behind-the-scenes processes Bluestone has implemented to improve the broker experience? Tony? 

Tony McRae 00:13:12 
Our overarching strategy is to be the preferred partner for brokers. Over the past 18 months, this has been a three-stage approach. 

The first stage was about relationships and service—having the right people, enough people, and simplifying our processes. The second stage focused on ensuring the right funders and policy parameters were in place. This allowed us to simplify credit policy, broaden our lending areas, and say “yes” more often. 

We’ve also refreshed our brand and values to clearly communicate what Bluestone stands for. We’ve been around for 25 years, consistently helping customers the banks won’t or can’t. 

The best is still to come—we’re about to launch new products, including small-ticket commercial and alt doc construction, to strengthen our position as brokers’ preferred partner. 

Bennett Richardson 00:14:38 
Final question. Brokers often say service and transparency matter more than rate. What does Bluestone do differently to earn repeat business and trust? Tony? 

Tony McRae 00:14:55 
It comes down to understanding the customer’s story. We don’t just look at credit scores, balance sheets, or P&L statements. We want to know what happened, what caused any issues, and what’s been put in place to prevent them in the future. 

By truly understanding the circumstances, we can find solutions more often. That’s the “secret sauce” at Bluestone—helping brokers grow their business and supporting customers others thought were too hard to help. 

Bennett Richardson 00:15:40 
There we have it—the secret sauce behind Bluestone Home Loans. That concludes our Australian Broker panel. Thanks to Tony McRae, Aaron Taylor, and Richard Chesworth, and thanks for watching Australian Broker TV. Bye for now.