Bluebay Home Loans lending policy depends on the selected facility and its funder, with separate decisions for credit approval, funding and broker remuneration. For a building proposal, Bluebay releases loan funds in stages as construction progresses. Record each advance separately so the approved limit does not become a commission forecast for money still undrawn.
Upfront Commission and Trail Basis
Match Bluebay upfront and trail to the named facility and the commission terms for your distribution agreement. Bluebay Home Loans Pty Ltd holds Australian Credit Licence 389250, as shown on its broker sign-in page. The Resolve Finance network sells its loans under the Resolve Home Loans label, a trading name of the same company.
Bluebay’s Credit Guide describes loans sourced from several wholesale funders. It also says commission details appear in the credit contract. A product name and funding route therefore belong beside the rate in your commission record.
Treat the first advance, later construction draws and completion as distinct events when matching commission advice to the loan. Record the event the agreement makes payable and its calculation balance. Credit approval alone does not show that the lender has advanced the approved amount.
Keep the trail calculation basis beside the rate, including any offset or arrears treatment stated in the agreement. Reconcile the statement against that basis. A lower balance after repayments and a missing payment require different follow-up.
Clawback and Refinance Treatment
Assess a Bluebay repayment or refinance against the clawback terms attached to the original commission payment. Record the original funded amount and upfront received, then match the repayment event to the applicable recovery period and calculation method.
An external refinance repays the existing facility through a new lender. An internal replacement can change the account or product while keeping the borrower with Bluebay. Keep these events separate in your records, including the old and replacement loan references.
For an internal replacement, obtain the written treatment of the original upfront and any payment on the replacement. Do not infer a clawback exemption from the unchanged Bluebay name. Similarly, a partial repayment needs its own treatment under the agreement before you recognise a recovery amount.
Keep a borrower charge for breaking a fixed term separate from recovery of broker commission. They affect different parties and need separate calculations in a refinance file.
Top-Ups, Splits and Additional Draws
Separate fresh borrowing from changes to the structure of existing Bluebay debt. A top-up adds credit, a split divides the facility into accounts and a construction draw releases money within an approved building facility.
Use one record per funding event, with the parent facility reference and the amount actually advanced. Add the commission advice reference when payment arrives. This lets you identify a later payment for an existing event without entering the advance twice.
In a hypothetical construction file, a $600,000 limit has a $250,000 initial advance and a later $50,000 progress draw. The drawn total is $300,000. Record the $50,000 once as a progress draw against the original facility, even if it appears under a new account reference.
If an additional $40,000 limit is subsequently approved for extra works, record that increase separately. Its approval and its eventual advance are different events. Apply the relevant commission terms to each event without counting the same funds as both a new settlement and a top-up.
Income and Borrower Requirements
For Bluebay’s Classic Prime fixed route, the published target market includes adult individual borrowers who are Australian citizens or permanent residents. Single and joint borrowers are included. This route requires serviceability and sufficient security, as set out in the Classic Prime target market determination.
Bluebay’s application information calls for identity, deposit-source and employment-history evidence, with income verification for a standard home loan. Prepare evidence that connects the income declared to the income received. Explain changes in employment or earnings that affect repayments.
For a self-employed applicant, identify the business and the income being relied on before selecting the documentation route. Keep business income separate from personal drawings. The evidence request must match the selected facility’s assessment method.
Keep residence status evidence with identity documents. A company or trust applicant needs a facility assessed for that borrower structure. The individual-borrower Classic Prime criteria do not establish eligibility for a company, trust or non-resident applicant.
Purpose and Facility Selection
Choose the Bluebay facility around the transaction being funded and the timing of its advances. The Classic Prime target market determination includes purchase and refinance, alongside building-related purposes. Its construction product has separate restrictions, including redraw only after construction finishes and no cashout during construction.
For an established-property purchase, map the advance to settlement. For a refinance, map it to the outgoing lender’s payout and any separately approved additional funds. These transactions differ from Bluebay’s construction lending, where progress payments follow building stages.
A house-and-land proposal needs a funding sequence that distinguishes land settlement from building payments. Identify which parts fall under the proposed facility before describing either the settlement requirement or expected broker income.
Security and Project Evidence
Prepare the Bluebay security file so the valuation and title describe the property the lender will actually fund. For a purchase, reconcile the sale contract with the borrower and security details. For a refinance, include the existing debt and the security being released or retained.
For construction, assemble the building contract and progress-payment schedule alongside the plans and specifications. Identify changes to the contract price and explain how the borrower funds any shortfall. Ask Bluebay to specify which project documents and inspection evidence apply to the chosen funding route.
Use the written approval conditions as the release checklist. Assign each condition to the person supplying the evidence and distinguish conditions for the first advance from those for later draws. Record the lender’s acceptance before treating a scheduled progress payment as ready to release.
A valuation shortfall changes the funding calculation. A title problem can prevent the proposed security from being taken. Resolve either issue against the approved structure before promising a funding date to the builder.
Credit Clarifications Before Funding
Send Bluebay a scenario enquiry that names the facility and the decision needed before funding. Include the borrower structure and residence status, then explain the income basis and any evidence that needs assessment.
For a hypothetical building proposal, the enquiry could read:
Two Australian permanent-resident individuals seek owner-occupied Classic Prime construction funding. The proposed limit is $600,000, with $250,000 at land settlement and later draws under the building contract. One applicant has changed employment. The valuation is below the combined land and contract cost. Please assess the income evidence and explain the contribution required before the first advance. Please also specify the conditions and progress evidence for later releases.
Send a separate remuneration question identifying the same facility and funding stages. Ask which event triggers upfront, how later advances affect payment and when trail starts. Include the treatment of any existing Bluebay facility being replaced.
Use the Bluebay broker contact guide for access and contact details, or compare other lender policy guides when the proposal needs a different route. Keep the credit response and remuneration response with the file so funding instructions and expected income use the same facility details.
