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Bluestone Mortgages

Bluestone Mortgages

3.4 from 136 reviews

Reviews

(68)
(19)
(1)
(1)
(47)
  • Transparency
    3.1 (12)
  • Customer Service
    3.1 (12)
  • Loan TypeVariable Rate (9) · Fixed Rate (2)
  • Application Process
    3.7 (11)
  • Timeliness
    3.5 (11)
  • Loan used for
    • Refinancing (6)
    • Investment Property (2)
    • Renovation (1)
    • Second Home (1)
  • Loan Term29.5 years (4)
  • Online Tools
    3.0 (2)
Mvdk

MvdkPerth, WA

  • 2 reviews

Stay away from the this company big time! Shocking

published

My mother took out a reverse mortgage 12 years ago for $100K and has now decided to sell her property.
They have advised her the break free cost is $189K plus the interest on top of principal another $100K! So a total owing they quoted is $400K on a property worth around $460K. This is so wrong and day light robbery how can they can get away with this? Something has to be done. If she sells her property now she will have nothing left. Stay away from them, how can they legally get away with this? The public need to know about this. Don't do it.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeFixed Rate
See all answers
Jerry J

Jerry JVictoria

  • 2 reviews

Excellent Customer Service!

published

Moving my mortgage from one lender to another can be very daunting, but Jessica Wilson made the process easy and effortless. I appreciate the professional service and keeping me updated through the whole process. Jessica you are true professional with a true understanding for Customer service. You saved me many thousands of dollars and only happy to recommend you to anyone seeking to refinance. Thanks once again Jessica and keep up the good work you are a true asset to Bluestone .

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateJanuary 2020
Loan used forRefinancing
See all answers
1 comment
Bluestone Mortgages
Bluestone T.Bluestone Mortgages

Wow thanks Jerry! Jess is very appreciative of your feedback, and we're super happy that you've had a great experience with us.
Regards, the Bluestone Team

summa81

summa81

  • 2 reviews

Amazing staff great rates

published

Jessica from bluestone was amazing to deal with from start to finish I could not recommend a better company or better staff!!! Interest rates are great as well!!!! honestky the easiest process ever!!!

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Loan TypeVariable Rate
Loan Start DateDecember 2019
Loan used forRefinancing
See all answers
1 comment
Bluestone Mortgages
Bluestone T.Bluestone Mortgages

Appreciate the kind words! Jess is very happy that she was able to successfully guide you through the whole process. Happy new year!
Regards, the Bluestone Team

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Modern day loan shark

published

This company approved our preapproval and conditional approval for 4.99% interest rate.
But cunningly increased final approval 9.14%. Monthly payment $5100, my monthly income $4900.
Matter with AFCA (ombasment) at the moment.
Person who incharge here, she is massive con artist.

Never ever go near this loan sharks.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateApril 2019
Loan used forRefinancing
See all answers

Loan Sharks - Stay Away

published

I agree with Derek - they were quick to increase my interest rate yet despite numerous rate cuts from the RBA they have not been passed on - is this even legal - go elsewhere if you can they are relentless and non customer focused once they have your business. We will be going elsewhere as soon as possible.
You are lucky if you had a rate cut we have only had an increase

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateJuly 2017
Loan used forRefinancing
See all answers
1 comment
Bluestone Mortgages
Bluestone T.Bluestone Mortgages

Hi Anne, we're sorry to hear that you haven't had the perfect experience with us. If you give us a call on 13BLUE (13 25 83) our team will be happy to discuss your loan with you directly.
Best regards, the Bluestone team

Very good service from a specialist Lender

published

Jessica Wilson is an champion when it comes to customer service and supporting her clients.
Lending process was smooth and efficient, if you need a loan in the specialist lender space we would recommend Bluestone.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateOctober 2019
Loan used forInvestment Property
See all answers
1 comment
Bluestone Mortgages
Bluestone T.Bluestone Mortgages

Thanks for the great feedback!
We are thrilled you had a positive experience with Jessica and Bluestone.
Cheers, the Bluestone team.

Irresponsible Lender

published

My wages did not cover my mortgage.I withdrew all my super and was forced 12 yrs later to sell and owed almost the same amount I borrowed due to interest

Transparency
Customer Service
Loan TypeVariable Rate
Loan Start DateJanuary 2006
Loan used forRefinancing
See all answers
1 comment
Bluestone Mortgages
Bluestone T.Bluestone Mortgages

We're sorry to hear about your negative experience with Bluestone. If you have any further questions, please don't hesitate to get in contact with us at 13BLUE (13 25 83).
Kind regards, the Bluestone team.

Derek

DerekMetropolitan Adelaide, SA

  • 2 reviews

Use someone else if you can!!!

published

While I appreciated getting a non conforming loan I was very dissatisfied when the failed to pass on any rate cut in the last 12 months. The had been 3 rate cuts from the RBA and the Rate has dropped from 1.5% to .75% but my rate remained the same.

They told me after 12 months of payment history they would review my rate. Upon doing so they cut it by .5% stating due to my loyalty and payment history. So actually it has gone up. The rate has dropped by more than this so I am actually paying more above the RBA rate now than I was 12 months ago. 6.34%.

A complete ripoff. I will be refinancing as soon as I can.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeFixed Rate
Loan Start DateAugust 2018
Loan used forRefinancing
See all answers
2 comments
Derek
Derek

After much back and forth they gave me another full 1% rate cut. Why they didn't give it upfront is questionable

Bluestone Mortgages
Bluestone T.Bluestone Mortgages
Vick

VickGreater Melbourne (Inner), VIC

Jess the super star

published

Can’t thank Jess enough she is amazing so friendly, helpful and efficient. Jess made the entire process so easy, relaxing and hassle free. Highly recommend Blusetone and most def Jessica Wilson.

1 comment
Bluestone Mortgages
Bluestone T.Bluestone Mortgages

Hi Vick,
Thanks so much for your feedback, Jess is thrilled! Great to hear things were hassle free for you.
Cheers, the Bluestone team.

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alison

alisonGreater Melbourne (Metropolitan), VIC

Difficult

published

this company is extremely difficult to deal with you cannot get a straight answer for any enquiry they will not talk or negotiate any request really difficult when you want to speak to someone other than the person who answered the phone as they do not state what there role is they will not do that

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan Start DateFebruary 2017
Loan used forSecond Home
See all answers
Brenton W

Brenton WSouth East Queensland, QLD

Jess is a super star!!

published

I'm a new customer of Bluestone. I was a bit reluctant as I read other reviews which were not entirely positive and didn't portray a great image.

Jess was professional, efficient and allround fantastic. She has made the onboarding process hassle free and as simple as possible. At this stage, I have nothing but positives to say about Bluestone. Fingers crossed the upcoming years are to the same level I have experienced to date.

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan used forRenovation
See all answers
Gerard Mc

Gerard McSouth East Queensland, QLD

  • 2 reviews

Brilliant Service

published

Jessica Wilson provided great customer service. From the beginning I always felt I was in very good hands in getting my mortgage over the line which did prove difficult. Again thanks for all support Jessica. cheers

Transparency
Customer Service
Application Process
Timeliness
Loan TypeVariable Rate
Loan used forInvestment Property
See all answers

Thankyou Jess Wilson

published

Jess Wilson was an absolute pleasure to work with. Helped me out with every little detail and made the experience an absolute breeze to get through. Could not recommend highly enough. Everything was clearly outlined and delivered and there were no nasty surprises at the end of it all. Thankyou Jess and Bluestone for everything.!!

Transparency
Customer Service
Application Process
Timeliness
See all answers
1 comment
Bluestone Mortgages
Bluestone T.Bluestone Mortgages

Thank you Timos, we're glad you're happy!

The reviewer stated that an incentive was offered for this review

lexi mckee

lexi mckeebrisbane

  • Verified customer

Absolutely Disgusting Behaviour

published

Reverse mortgage an absolute disgrace & rip off of the elderly

published

My parents borrowed $100K on a fixed rate for life of 8.5% over 11 years it has now grown to $268K she is now 89 and living 450 km away from me. I want to bring her closer to me but Bluestone advised we cant transfer the mortgage to another property as previously advised because they will only go to 45% of the value of the new property. Because the debt is now $268K and properties in WA havent gobe up LVR is 72%. I cant afford to pay the loan out as I have no idea what break costs are but will be significant. So she is stuck there in a 4 bed 2 bath home which requires considerable maintenance. I am lodging a formal complaint to Bluestone and will be persuing this with the Ombudsman. This is a prime example of unconscionable lending.

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  • Verified customer

Bluestone - great for Self employed investors

published

As a self employed investor with several properties, Bluestone were the only bank to offer me an investment refinance loan to pull out equity. I spoke to over 5 banks directly and 4 mortgage Brokers and Bluestone were the only bank still willing to help out investors (other banks have changed their policies post the royal commission). Santosh Mani was absolutley brilliant. Thanks you Santosh for continually staying on top of my loan process regardless of the hurdles. Much appreciated.

1 comment
Bluestone Mortgages
Bluestone T.Bluestone Mortgages

Hi Mardi, thanks for the feedback! It's great to hear success stories such as this. Santosh is thrilled! Cheers, the Bluestone team.

ELLE

ELLEPerth

  • 2 reviews
  • 3 likes

CANNOT WAIT TO CHANGE “BANKS”

published
1 comment
Bluestone Mortgages
Bluestone T.Bluestone Mortgages

Thank you for your review. This matter is currently being investigated and we will revert back to you as soon as possible. Best Regards, the Bluestone Team

Jules

JulesSydney

  • 2 reviews

Bluestone Equity Rip Off for Elderly

published

Satisfied Client

published

I found the service and committment shown by Santosh was excellent.Santosh explained all relevent fees and charges and always kept myself informed throughout the mortgage process.Santosh made the experience smooth and stress free.Well done

1 comment
Bluestone Mortgages
Bluestone T.Bluestone Mortgages

Thanks Peter for great feedback for Santosh. I've passed it on to him and he's absolutely thrilled! Glad to hear your application has gone smoothly. Cheers, the Bluestone Team.

Escellent and freindly service.

published

-Excellent service Miss Jessica wilson Mortgage Specialist went out of her way to communicate and explain all issues related to the loan application.
-No extra cost or issues.
-Satisfied.

1 comment
Bluestone Mortgages
Bluestone T.Bluestone Mortgages

Thanks Samir for your kind words. Jessica is happy to hear your feedback. Cheers, the Bluestone team.

Page 1 of 7

Questions & Answers

Lisa Martin

Lisa Martinasked

Not a question...
You people need to address you're previous dealings with elderly customers from 2006 and onwards.
Clean up your shameful service and apologise the distress you have caused so many elderly people in Australia. You're dealings have violated the National Consumer Credit Protection Act 2009 - SECT 118.
It will not be the last time you hear from families about these incidents.

1 answer
Ken Siebring
Ken Siebring

My inlaws have a reverse mortgage with this " company " so we discovered when my wife and sisters got power of attorney to help manage their affairs
It was with great dismay and stress they found out there was a very large fee to pay out the amount owing ( which in itself is bad enough )
Yes it's not illegal, but it is morally corrupt preying on people that are sold a product that has these implications built in ( and obviously smoothed over in the sales pitch )
These people have no morals

Nickjjt

Nickjjtasked

With the ongoing Royal Commission, how have Bluestone's Reverse Mortgages escaped the spotlight?

If you are one of the many who have paid the unreasonable break fee or if you are thinking of terminating your reverse mortgage but can't due to the break fee, then I urge you to contact your local member or the Shadow Treasurer Chris Bowen so that the Royal Commission can look into the issue.

Hopefully with enough pressure, Bluestone will refund the break fee and not force others to pay the break fee if they are considering terminating the product.

2 answers
lexi mckee
lexi mckee

Hi there, did this gain any traction?

Parkey M.
Parkey M.

Are you in need of a loan of any purpose?Are you tired of seeking loans and Mortgages,have you been turned down constantly By your banks and other financial institutions,We offer any form of loan. do not hesitate to contact us for possible business co-operation. for more information and contact: michaelleeparkey@gmail.com
whatsapp room: +18033713267 for more details

LadyOfThree

LadyOfThreeasked

Hi.
I am currently considering bluestone. Is it true there is no end date on the loan? How quickly did interest hike up?

I’m ok with the 30 years. I’m young and can just save the extra repayments in the bank. But my fear is how long the loan term is (I assumed 30 years based on repayment information I was given) and I was under the impression the interest rate just wouldn’t hike repeatedly.

I can’t tell if the grievances are with those who didn’t understand the term (30 years) or planned to sell or refinance?

As self employed. I feel this is quite fair - for me. But these reviews have me wary. I would also only be in my 50s at the completion of 30 years.

7 answers

Hi, I think Bluestone may be a good choice as you're self-employed.

The terms vary and you can take a term loan out less than 30 years depending what repayment you're comfortable with.

Many people don't understand the mortgage they're in and they end up blaming others and pushing the blame back to Bluestone etc.

I think you should contact me just to discuss the scenario just so you are directed to the right product, and are given all the information you need to make an intelligent decision. This can be mean you save thousands on your mortgage.

0405 022 688

Susan
Susan

Hi there,

Loan term can be for 30years or less. It depends on your goal and serviceability. Variable Interest may change . I guess it's up to the bank and RBA unless you choose fixed rate option. You welcome to call me on 0434685432:) Happy to assist. I have had an amazing experience with Blue stone and am very passionate about helping my clients.

Regards,

Susan

Bluestone Mortgages
Bluestone T.Bluestone Mortgages

Hi there,

We'd love to have a chat with you about your enquiry. Please get in touch with us by either emailing direct@bluestone.com.au or calling (02) 8115 5028, and one of our representatives will be with you shortly! Cheers, The Bluestone Team.

Get an answer from our members and Bluestone Mortgages representatives

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