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Bluestone Mortgages

Bluestone Mortgages

3.3 from 148 reviews · View Statistics

Reviews

3.3

148 reviews
5
(71)
4
(19)
3
(1)
2
(1)
1
(56)
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vereen

vereenGreater Melbourne (Inner), VIC

  • 3 reviews
  • 1 like

do not touch this lender

published

Don't waste your time, for a rate review of the loan, it took this offshore teams [Names Removed] - complaints manager, [Name Removed] variations manager, almost 5 hours waiting time on the phone, no outcome, customer experience in handling this was poor. highly recommend that they do not get businesss!

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
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Marke

Marke

  • 5 reviews
  • 5 likes

Little slow to get over the line but great now

published
Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan Start DateJanuary 2020
Loan used forFirst Home
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Paininass

PaininassSouth East Queensland, QLD

  • 2 reviews
  • 2 likes

Prepare to be absolutely ripped off.

published

Absolutely horrific with the fact that they’re able to take advantage of their customers with abhorrent interest rates - regardless of loyalty or clear payment history. Highly recommend exploring every single other option before you sign with these people. Unfortunately they’re not a bank so do not pass along the interest rate cuts - rather, they increase them without being able to complain any further as no one is able to hold them accountable.

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forRefinancing
See all answers
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Lorie

LorieNew South Wales

Poor Customer Service

published

Very Poor communication, very quick to chase people for money and would not help customers. threatening to sell my house due to covid19 . Do not get a mortgage with nonsense.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeFixed Rate
Loan used forFirst Home
See all answers
Danih

DanihSydney, NSW

  • 3 reviews
  • 1 like

Dont go near them!

published

I just rang to see if i could get a rate review and they have advised that due to COVID 19 that they wont be doing any reviews for the rest of the year and possibly next year...WTH?
As soon as i can get my partner on my mortgage i am dropping these sharks and never going near them again! they cant review any rates because of a pandemic , absolutely nonsense!

Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeFixed Rate
Loan Start DateNovember 2017
Loan used forRenovation
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Scum bags

published

Loan sharks
Will bleed you dry and then some
Interest rates never go down, only up.
Charge ripoff fees for whatever they can
Better of burning your house down then refinancing with these dogs

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forRefinancing
See all answers
MARIS

MARISSouth East Queensland, QLD

  • 2 reviews

Helpful and Supportive

published
Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateMay 2020
Loan used forFirst Home
See all answers
Anon

AnonMetropolitan Adelaide, SA

And the worst lender of the year award goes to....

published
Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
See all answers
MARIS

MARISSouth East Queensland, QLD

  • 2 reviews

Helpful and supportive

published
Transparency
Customer Service
Application Process
Timeliness
Online Tools
Incentivised ReviewNo
Loan TypeVariable Rate
Loan Start DateMay 2020
Loan used forFirst Home
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David

DavidPerth, WA

Last resort - Stay away

published
Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
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Derek

DerekMetropolitan Adelaide, SA

  • 2 reviews
  • 3 likes

Steer clear of this money grabbing low life lender!+

published
Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forRefinancing
See all answers
Nicole W.

Nicole W.Greater Melbourne (Outer), VIC

I wish I could give 0 stars

published

Don't use these loan sharks! When i contacted Bluestone to seek a review of our interest rate in light of of the Covid-19 situation they claimed that unlike most other companies they would not be reviewing their interest rates BECAUSE of Covid-19. They directed us to the hardship department which we clearly indicated we did want want to do as our priority is to keep paying our mortgage and not freeze our payments which would increase the total amount we owe and not help us in the long run. When most other companies are trying to assist their clients Bluestone just want to continue to gouge its clients. An absolute disgrace in the current environment when their rates are already significantly higher than a normal bank.

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeFixed Rate
See all answers
Dismayed

DismayedPerth, WA

Not Passing on RBA Interest Rate Cuts

published

With Bluestone reduced borrowing costs, Back to Back RBA rate cuts- that have not been forwarded to the customer base, Bluestone could have a PR reversal ( positive light ) and negate those rampant thoughts from their customer base of lack of Empathy and Perceived Profiteering from this global pandamemic, which can only be seen in shameful and abhorrent light. Why not pass on of the Bluestones reduced borrowing costs ? It would be for the Customers and Bluestone's image benefit

Transparency
Customer Service
Application Process
Timeliness
Incentivised ReviewNo
Loan TypeVariable Rate
Loan used forInvestment Property
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4 comments
Dismayed
Dismayed
Dismayed
Dismayed
Bluestone Mortgages
Bluestone T.Bluestone Mortgages

soul destroying

published

As my husband passed away 12 yrs ago I wish to downsize, I was advised the break fee will be large ie thousands of dollars. Cannot list to sell until I have final figure. Wont be able to afford alternate housing.
Lets join for class action. Update $20,000 loan 8 yrs ago will cost $122,025 to pay out today.

Transparency
Customer Service
Application Process
Incentivised ReviewNo
Loan TypeFixed Rate
Loan used forRenovation
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Jerry J

Jerry JVictoria

  • 4 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
Incentivised ReviewNo
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

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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
Incentivised ReviewNo
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

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
Incentivised ReviewNo
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
Incentivised ReviewNo
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
Incentivised ReviewNo
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
Incentivised ReviewNo
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.

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Questions & Answers

lmc

lmcasked

my father in law just died and has one of this terrible reverse loans can someone tell me do you pay a break fee if the person dies or is it only if the borrower is wanting to sell the property and get out of the loan

1 answer
Bluestone Mortgages
Bluestone T.Bluestone Mortgages

Hi there. We are sorry for your loss. Please use the following link to contact our team, who will assist you with your question -> https://bluestone.com.au/borrower/contact-us/. Thanks, Sophie.

David

Davidasked

Hello -Can you please explain why you are not passing on the RBA Rate Cuts

2 answers
Derek
Derek

They sent me a letter outlining a few things. They claim because they are not a bank they are not required to and that they have higher costs than banks as they source their money from elsewhere. They also say during this Covid19 situation they are not reviewing rates. Which is just an excuse to not pass on any rate cuts and maximise their profits. There have been 3 rate cuts not during Covid19 since I took out my loan with them and they haven't passed on any of them. Complete and uettwr thieves. I urge everyone to steer clear of these unscrupulous lenders.

David
David

They hide behind saying - we are not a bank AND it is not mandated,.....
They source their funds from the Banks, which themselves have lower Borrowing costs

RANDOM ACTS OF KINDNESS they are not mandated either -
By the way, Passing on their reduced borrowing costs is NOT a act of Kindness - it is only Fair, just and socially responsible. Shame on them

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.

2 answers
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

Alli
Alli

My parents also got a reverse mortgage 15 years ago with Bluestone and they were told the exorbitant amount of money that they will have to pay out to have the reverse mortgage released. I find this absolutely appalling that a company would take such advantage of elderly customers who don’t read the fine print as they trust the person explaining the mortgage to them. They are now stuck as they can’t afford to get out of the mortgage as they are pensioners.

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