Between the September 17th, 2018 and September 21st, 2018, Bluestone Mortgages is offering reviewers that take the time to write a review a $50 Westfield Gift Card. It is possible that the reviews below are written by reviewers that may have received this incentive. Previous incentives: September 3rd until September 10th 2018, each reviewer was offered a $50 Westfield Gift Card for ther review. June 6, 2018 until June 20, 2018 - 2 $200 Gift Cards distributed randomly.
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MARISSouth East Queensland, QLD
- 2 reviews
Helpful and Supportive
I sincerely recommend Jessica Wilson from Bluestone Mortgages. She was extremely helpful and supportive every step of the way. This was my first experience and I was feeling very anxious and uncertain about the whole process. Jessica's knowledge and clarity in explaining and guiding me through the application process up to and including settlement was efficient and conscientious. She found me the best possible rate and time frame. She explained all the costs and was always upfront and honest. She responded promptly to all my emails and phone ca...Read more
lls. Given the current climate with all of the uncertainty, Jessica's attention to detail and resourcefulness made me feel comfortable and supported. I am deeply grateful for all she has done and highly recommend Jessica. Thank you!!!Similar opinion? Write a review on ieatwords.com.au!
AnonMetropolitan Adelaide, SA
And the worst lender of the year award goes to....
I have never felt so strung along in my life!
I have applied for a refinance through Bluestone via my broker who I have used for years. It has taken more than 7 months with no formal offer or definite answer! All I want to know is if I can get the loan or not- pretty damn simple one would think.
Every time the broker calls up the BDM or creditor I am advised that everything looks good and once the formal is offered it should only take another 3 weeks!! It’s been more than seven months, and my patience has run out.
This issue has been escala...Read more
ted but that hasn’t seemed to have done a damn thing. While I understand that legislation has changed for loan approvals but honestly more seven months is lunacy. Don’t apply with this company if you’re buying a home you will end up with late fees coz they take too long to approve anything and don’t have any care for the applicants offering them business.Similar opinion? Write a review on ieatwords.com.au!
MARISSouth East Queensland, QLD
- 2 reviews
Helpful and supportive
I sincerely recommend Jessica Wilson from Bluestone Mortgages. She was extremely helpful and supportive every step of the way. This was my first experience and I was feeling very anxious and uncertain about the whole process. Jessica's knowledge and clarity in explaining and guiding me through the application process up to and including settlement was efficient and conscientious. She found me the best possible rate and time frame. She explained all the costs and was always upfront and honest. She responded promptly to all my emails and ph...Read more
one calls. Given the current climate with all of the uncertainty, Jessica's attention to detail and resourcefulness made me feel comfortable and supported. I am deeply grateful for all she has done and highly recommend Jessica. Thank you!!!
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DavidPerth, WA
Last resort - Stay away
Stay away - If your interest rate doesn't start with a 2 or at worst a 3, Please try try try to refinance.
Unsympathetic, uncaring and socially abhorrent - Cashing in on COVID 19 !!!!!!!!!!-
Pass on the interest rate cuts, PLEASE DO THE RIGHT THING BLUESTONE !!!!!!!!
Never mind what is wrong with this company. What is right - SHAME ON YOU.... PASS on your reduced borrowing Costs
Don't hide behind saying we are not a bank AND it is not mandated,.....PLEASE DO THE RIGHT THING BLUESTONE.
RANDOM ACTS OF KINDNESS they are not mandated either -
By the way, Passing on your reduced borrowing costs is NOT a act of Kindness - it is only Fair, just and socially responsible. WAKE UP!
...Read more
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DerekMetropolitan Adelaide, SA
- 2 reviews
- 1 like
Steer clear of this money grabbing low life lender!+
I have a variable rate and asked for a rate reduction based on the massive reduction in interest rates across the market. In addition I was told that as my payment history improves I will also be provided a better rate to reflect this. Since my rate was adjusted there have been several cuts to the Reserve Bank rate and in addition I have made over 18 months worth a payments with perfect payment history. I was told I could not get a rate reduction at this time. I made several other calls and exchanged many emails and was eventually offered a rat...Read more
e reduction of just 0.25%. My rate is now 5.19%. I explained that there has been over a 0.75% rate reduction by the Reserve Bank during this time but they said as they are not a bank they don't have to pass on Reserve Bank rate reductions. They have sent me a letter stating that during the uncertainty of the current Covid19 crisis they are not reviewing any rates. They said I can apply for hardship but I don't want to plus I don't think I would qualify as I am still employed and maintaining about 80% of my previous income. I feel it is immoral for them to blame the Covid19 pandemic for a reason not to legitimately review interest rates. Since I took out my loan there has been a huge reduction in rates and I would be lucky to have seen less than half of the rate reductions in that timeSimilar opinion? Write a review on ieatwords.com.au!
Nicole W.Greater Melbourne (Outer), VIC
I wish I could give 0 stars
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.
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DismayedPerth, WA
Not Passing on RBA Interest Rate Cuts
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
4 comments
Would it be a safe assumption that your organisation is now seeking to source funds from areas in alignment with the current National and Global crisis? Noting the RBA's National interest in regar... Read more
d to the out of cycle Rate Cuts that the Major financiers have FULLY passed on to thier customers. Some comfort to the BLUESTONE customers would be provided, detailing new sources of customer orientated funding that your company, would be seeking, to allow passing on of the reduce the interest rates to your customer base..and alleviate some of the extraordinary interest rate burden inflicted on BLUESTONE CustomersBluestone T.Bluestone Mortgages
Hi there. As discussed, we are doing everything we can to help and support our customers through this difficult time with our range of hardship options. If you'd like to chat about your financial situ... Read more
ation with our team, please reach out on 13 25 83 or follow this link www.bluestone.com.au/borrower/covid-19.Similar opinion? Write a review on ieatwords.com.au!
soul destroying
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.
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MvdkPerth, WA
- 2 reviews
Stay away from the this company big time! Shocking
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.
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Jerry JVictoria
- 2 reviews
Excellent Customer Service!
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 .
1 comment
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
- 2 reviews
Amazing staff great rates
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!!!
1 comment
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
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.
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Loan Sharks - Stay Away
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
1 comment
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
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Self Employed BorrowerSydney, NSW
Very good service from a specialist Lender
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.
1 comment
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.
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Irresponsible Lender
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
1 comment
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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VickGreater Melbourne (Inner), VIC
Jess the super star
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 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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alisonGreater Melbourne (Metropolitan), VIC
Difficult
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
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Brenton WSouth East Queensland, QLD
Jess is a super star!!
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.
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Gerard McSouth East Queensland, QLD
- 2 reviews
Brilliant Service
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
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Thankyou Jess Wilson
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.!!
1 comment
Bluestone T.Bluestone Mortgages
Thank you Timos, we're glad you're happy!
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The reviewer stated that an incentive was offered for this review
Questions & Answers
Davidasked
Hello -Can you please explain why you are not passing on the RBA Rate Cuts
2 answers
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.
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 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
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
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
Hi there, did this gain any traction?
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: [email protected]
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Dismayed
Automated Response: The decision not to pass on the most recent rate cut was one we did not take lightly.
The RBA’s latest rate drop was made out-of-cycle as a response to the economic disruption... Read more
from the global health crisis. This same disruption has caused the cost of funds to rise significantly for mortgage lenders across the industry.