Bluestone returns after 10 year absence
Australian non-bank lender Bluestone has re-entered the New Zealand market, targeting self-employed people as well as credit-impaired borrowers with a range of new lending products.
Bluestone, started lending in New Zealand 15 years ago but pulled out 10 years ago when the global financial crisis began. During that time it lent around $1 billion, chief operating office Peter Wood says.
Wood says Bluestone has a facility of $150 million from an, unnamed, major Australian institution.
The lender has begun a “soft launch” with a small group of advisers across the country. It has an office in Auckland with eight staff.
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