A recent report from KPMG shows non-bank profits were up 22% in the past year. Have you been surprised by the sudden growth in the NZ non-bank space? 

We are not surprised at the growth of the non-bank sector given the continued tightening of credit by the major banks and the Royal Commission in Australia all
of which are impacting the market. Even in the last week we have seen a discussion paper released by the RBNZ on capital requirements of major banks moving forward, which could further increase non-banks volumes. We see the growth in the non-bank sector continuing in the short to medium term.

Have customers become more receptive to non-banks?

Customers have been more receptive to non-banks, primarily due to the hard work by mortgage advisers to educate borrowers on their options - these increasingly include non-bank lenders. However, further education is required to ensure consumers understand what a non-bank is, why they are credible lenders and what solutions they can offer.

Where are the growth opportunities for Bluestone next year?

We see fantastic growth opportunities across the NZ market in 2019 and beyond for the non-bank sector as a whole. Specifically for Bluestone, with the expansion our existing product offering and broadening of our geographical footprint with increased sales coverage, we anticipate a growth rate above that of the wider non-bank market.

Do you expect to take more "prime" customers from banks in the coming year?

By virtue of the fact major banks are continuing to tighten their credit criteria we are seeing more and more "prime" customers particularly in the self employed and investment segments who are seeking solutions to accommodate their mortgage finance requirements. We expect this to continue.

It is nearly a year since you came back to the New Zealand market. What milestones has Bluestone reached?

Our primary goal since we came back to the market was to re-establish the business as a leading non-bank lender and we feel we have been successful in doing this. We are delighted with the performance of the business having achieved the benchmarks we set for ourselves. We have built a fantastic team which is focused on delivery a quality proposition to the adviser market from sales led by Sue Griffiths to underwriting and operations led by Angela Ainsworth and Hayley Tottenham respectively. The continued support of mortgage advisers has been outstanding.

Bluestone has been heavily involved in the non-bank events across NZ this year. How else is Bluestone extending its adviser network and building awareness?

We have purposely been at the forefront of non-bank events across the country from conferences, PD days, workshops and 1:1 meetings, as we believe educating mortgage advisers about non-banks and Bluestone's proposition is paramount and will assist in building a sustainable sector of the market. We will continue to invest heavily in this area of the market both on behalf of the non-bank sector and specifically relating to Bluestone.