COVID-19 Impact on Bluestone's Operations

This page contains up-to-date information on COVID-19's impact on Bluestone's operations, as well as updates on latest product, policy and process changes.

To our valued advisers,

At the halfway point of the year, it’s fair to say 2020 has brought with it a host of challenges none of us could have anticipated.

New Zealand has now emerged from nation-wide lockdown, and has so far weathered the threat posed by COVID-19 better than many other nations around the world. But the full social and economic impact of this crisis are still unfolding, and only time will give us certainty on their extent.

In an environment where many Kiwis have been economically impacted, you as advisers have played an invaluable role in allowing your customers to safeguard their financial standing and achieve their goals. Going forward, nobody is better placed to help borrowers navigate quickly shifting lender policies and market conditions to achieve a positive outcome.

At Bluestone, we continue to be committed to helping you in this task. As restrictions are beginning to ease, we are continuously reviewing our policies to make sure we can provide responsible loans to as wide a range of borrowers as possible. We are also reviewing our online processes and working on providing you with new tools to make your life easier.

We will continue to communicate all our changes clearly and transparently, to make sure you have all the information you need to help your customers.



Peter Wood
Managing Director, New Zealand


We understand the current situation may make it difficult for some customers to meet their home loan repayments. Bluestone has a long history of supporting customers experiencing financial hardship and we have a range of options to support customers impacted by COVID-19. We ask that in the first instance, advisers help their customers first and can direct customers who are impacted to, where they can find up-to-date information on hardship options and processes.




Rate and Policy Changes

In response to the current market climate we have reduced some of our rates and reviewed our policy. You can find these updated rates and policy changes in our Product Matrix.

Pre-Settlement Income Verification

Prior to settlement, PAYE customers are asked to provide us with their most recent payslip so we can ensure they still have the ability to service their loan. We will contact you when this is required. For self-employed customers, we will require a copy of the most recent transactional business bank statement.

Changes to Acceptable Industries

We are continuing to review impacted industries working in the following industries that have been highly impacted by the COVID-19 pandemic - tourism, hospitality, entertainment, retail, and construction (not limited to these industries).

Case by Case Assessment of Some Income Types 

We will consider a range of income types on a case by case basis. Income types which may be restricted include income derived from shares and dividends, holiday rentals, short term accommodation, commissions and bonuses.


To ensure you receive the fastest approval possible, here is an overview of what we require from you:

How to fully package your deal

To ensure you receive the fastest approval possible, here is an overview of what we require from you:

  • Signed Loan Application form (electronically completed) and declarations form
  • Complete Diary notes
  • ID for all applicants
  • Income verification documents, e.g. two most recent payslips for PAYE applicants - submit through Illion for faster processing
  • Contract of sale for purchases
  • Mortgage/rental repayment history
  • 6 months’ loan statements for refinances

Please keep in mind that requirements vary between different home loan products, so please refer to our Loan Application Checklist or reach out to your Business Development Manager for the applicable list.

Enquiries and Support

We ask our advisers to direct all enquiries to their BDMs in the first instance, who will be able to assist.

Helpful Links

Unite against COVID-19 - A central resource by the New Zealand government with up-to-date information for individuals and businesses, as well as tips for slowing the spread.

Q&A on coronaviruses (COVID-19) - A collection of frequently asked questions about the virus and its impact, answered by the World Health Organisation (WHO).

Novel coronavirus explainer video - A clear and detailed explanation of the virus by the WHO, covering origins to symptoms and prevention.