Complex borrower cases are becoming more common, report finds
A rise in financially complex borrowers is changing Australia’s mortgage market, with brokers turning more often to specialist lenders to meet client needs, according to a new report from Bluestone Home Loans.
The Specialist Lending Opportunity Report 2026 found that 85% of brokers regularly see borrower scenarios that fall outside standard credit policy. The report said variable income, non-standard employment and complex financial arrangements are no longer limited to niche borrower groups.
ABS figures cited in the report show about 2.7 million Australians have income that changes from one period to the next. This group includes self-employed borrowers, contractors, casual workers, commission-based employees, and those who rely on overtime or allowances.
“Complexity in borrowers’ financials is no longer the exception, it’s the norm,” said Aaron Taylor (pictured right), head of non-standard lending at Bluestone. “Brokers who are supported to navigate these scenarios by lenders that take a more flexible, real-world view of income and credit are the ones best positioned to grow.”
The report identified self-employed borrowers as the segment most underserved by major lenders. It said 1.1 million Australians fall into this category, while 42% of brokers ranked self-employed clients as their hardest cases to place.
Bluestone said the findings also challenge common views on pricing. Only 29% of brokers named rates as the main barrier to placing complex loans, with credit policy and incomplete lending solutions seen as larger issues.
“Rate is often a smokescreen, the real issue is policy,” Taylor said. “When lenders can assess the full picture rather than just tick boxes, more deals get done and better outcomes are achieved for their clients.”
The report also pointed to a skills gap in the broker market. It found that 68% of brokers want to write more specialist loans, but 46% said they lack confidence in doing so.
Taylor said brokers who build specialist lending knowledge and work with lenders able to support complex cases may strengthen their position in the market. “Learning to identify and capture specialist opportunities drives growth, differentiation, and long-term sustainability,” he pointed out.
“Everyday, brokers are faced with complex scenarios, customers changing income structures, and borrowers that just don’t fit the box with mainstream lenders. We want to give brokers the confidence and support to make the complex seem easy, giving more Australians access to a flexible and competitive home loan solution.
“This is about standing behind brokers as they expand their businesses, giving them the support to help more clients access lending, even when the path isn’t straightforward.”
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