Markets shifting and brokers adapting
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With SMSF changes, budget shifts and softer conditions, brokers are under pressure to adapt. Those diversifying their client mix are increasingly turning to non-banks to keep deals progressing
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SMSF CHANGES are reshaping how borrowers structure finance. The federal budget has shifted investor behaviour. At the same time, parts of the market are softening while credit appetite remains tight.
Clients may be asking more questions. Investors are confused or rethinking strategy. Self-employed borrowers may also be dealing with their own changing circumstances.
This isn’t a gradual shift. It’s happening all at once.
Bluestone Home Loans has supported Australian brokers and borrowers for over 25 years. As a leading non-bank lender, Bluestone focuses on helping clients who have complex income, are self-employed or have less-than-perfect credit histories. With a practical approach to lending and a strong focus on broker support, Bluestone works closely with brokers to help them explore more opportunities and keep deals progressing, even as market conditions shift.
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“Recent changes mean more clients may be falling outside of traditional lending. Partnering with Bluestone helps turn those deals into something brokers can work through, not walk away from”
Tony MacRae, CHIEF COMMERCIAL OFFICER, Bluestone Home Loans
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Published 03 Aug 2026
“Brokers don’t really need more options. What they need is a lender who understands the customer, can unpack complex scenarios and deliver a real solution. Consistency really matters in times of change, like this”
Rob Westgarth, head of originations, Bluestone Home Loans
Keeping deals moving Momentum today isn’t about doing more of the same. It’s coming from brokers adapting how they approach deals and expanding the range of clients they’re able to support.
Increasingly, that means working with borrowers who now sit outside traditional lending but still represent viable opportunities with the right structure.
Brokers may increasingly be seeing it across:
self-employed clients with more complex income profiles
borrowers with minor credit impairments
investors adjusting positions post-budget
clients navigating higher cost of living pressures
SMSF borrowers responding to regulatory change
These aren’t new client types. They’re familiar but behaving differently and playing a bigger role in today’s pipeline.
For brokers focused purely on straightforward, prime deals, volumes can feel constrained.
For those willing to broaden their approach, the picture looks different. Varied. Active. Full of opportunity – simply requiring more relevant, flexible and real-life solutions to deliver that ‘yes’ we’re all looking for.
That’s where non-bank lenders are becoming a more deliberate part of broker strategy. Not as a fallback but as a way to keep more deals in play. Because in a market like this, adapting how deals are structured can be just as important as generating new ones.
The value of getting closer, now In a market like this, proximity to your lending partners matters more than ever.
Brokers who are leaning into the support of their BDM, picking up the phone early, workshopping deals and getting a complete deal together before hitting the submit button are moving faster than those relying on old pathways and habits.
It changes the dynamic. From submitting and waiting, to collaborating and progressing.
At Bluestone, that’s where we focus our support:
Stability through a different lens
There’s a perception that stability comes from sticking to the well-trodden path. In this market, the opposite can often be true.
Brokers who are diversifying their clientele, building capability across more borrower types and strengthening relationships with lenders who can support that may find more stability in their own businesses, weathering known storms or ones that come with new market conditions.
Because when one segment slows, another remains active and new opportunities can emerge. When policy changes create friction in one area, flexibility opens another.
Right now, that kind of support can make a real difference. Not just in getting a deal done but in giving brokers confidence to keep exploring opportunities that might otherwise be left on the table.
Non-bank lenders have always supported borrowers who don’t fit the mainstream. But right now, their role is more visible, and more valuable, than ever.
For brokers, it comes back to one simple idea: keeping momentum. Keeping clients moving forward. Keeping business steady, even when the environment isn’t.
Bluestone has spent more than 25 years working alongside brokers through moments like this. Not on the sidelines but in the detail, helping structure deals, navigate complexity and find a way forward.
Because when the market shifts, the right support doesn’t step back.
What was once an easy deal may now be falling outside traditional lending, needing a solution that is flexible and pain-free.
But while conditions feel challenging, they’re also revealing something important. Opportunity hasn’t disappeared. It’s shifted. And brokers who adjust to where it’s moved are still finding ways to keep business flowing.
early scenario conversations to help shape stronger deals
credit teams who look at the full picture, not just checklists
consistent service, so brokers know what to expect
a practical approach to complex financials that doesn’t make the process complex
What’s changing for brokers now
SMSF rule adjustments affecting lending structures
Federal budget influencing investor behaviour
Softer market conditions in key regions
Ongoing cost of living pressures on borrowers
5 opportunities for brokers
Investors reshaping portfolios
Near prime client segments
Alt-doc lending pathways
Self-employed borrower solutions
Complex borrower scenarios
Tighter credit appetite from major lenders
