Leith Wickstein appointed as Bluestone state manager

Non-bank lender Bluestone Home Loans announced Mr Wickstein’s appointment as a “strategic addition” in an effort to improve support for brokers and customers in the non-standard lending market.

Mr Wickstein joins Bluestone with extensive experience in the broker channel, having held a leadership role with aggregator Vow Financial and managerial roles with Choice.

According to the lender, Mr Wickstein has developed strong relationships with brokers, business development managers, and state managers, which has garnered him a “respected reputation” in Victoria, Tasmania, and South Australia.

Chief commercial officer at Bluestone, Tony MacRae, commented on the new appointment: “Someone like Leith is perfect to take Bluestone to the next level within Victoria and Tasmania.

“His extensive background with aggregators aligns seamlessly with our mission as the ‘go-to’ non-standard lender for brokers. Leith’s expertise will enable us to work effectively with all our partners, ultimately facilitating more successful client deals.”

Mr Wickstein stated that he was excited to join the Bluestone team and looks forward to continued growth with its broker partners.

“This role presents a unique opportunity to contribute to and shape the future of lending in Victoria and Tasmania, and I am committed to leveraging my experience to enhance our partnerships and drive success in these markets,” Mr Wickstein said.

The lender stated that Mr Wickstein’s focus on enhancing the service quality and operational efficiency between brokers and aggregators makes him “a valuable asset to Bluestone’s team”.

Bluestone lowers buffers

Prior to Mr Wickstein’s appointment, the non-bank lender announced that it has lowered its serviceability buffer from 2 per cent to 1.5 per cent for near prime and prime loans up to 70 per cent LVR.

The lender stated that the move aims to “deepen its commitment” to non-standard borrowers by “stepping up to meet the challenge that brokers often find in placing clients with unique and diverse lending criteria”.

The non-bank added that self-employed borrowers, in particular, were often underserved by the mainstream lenders, which typically have ‘one-size-fits-all’ serviceability requirements.

Mr MacRae stated at the time: “Big banks have long considered these [customers] too difficult and both brokers and their clients have suffered as a result.

“Our stated goal is to be the go-to lender for brokers with non-standard clients and this change in our serviceability buffer is just the latest in our policy changes that work towards that end.”

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