MA Money, an Australian non-bank mortgage lender, has announced the extension of its Summer Special for an additional month, now concluding at the end of February.
This decision was driven by the positive feedback received from brokers, highlighting the success and impact of the initial offer.
Tim Lemon (pictured above), MA Money national sales manager, expressed his enthusiasm about the extension.
“The response to our Summer Special offering has been absolutely fantastic,” Lemon said.
Originally set to end on Jan. 31, the promotional period has been extended to cover applications submitted from Feb. 1-28, with settlements due by May 30.
“We have heard directly from brokers about how valuable these savings have been for their clients, so we were delighted to respond by extending the offer for another month,” Lemon said. “Alongside this, we’ve also reduced rates for vacant land and SMSF residential loans, reinforcing our commitment to supporting brokers with competitive pricing and flexible solutions.”
The Summer Special includes various benefits such as a 7.14% rate for prime full doc and alt doc loans up to an 80% loan-to-value ratio (LVR) and $2 million (with a comparison rate of 7.2%).
Additionally, it features no risk fees for prime alt doc up to an 80% LVR and $2m, and for prime loans ranging from $2m to $3m.
The offer also includes a 0.75% risk fee for prime loans between $3m to $5m, plus a 50% reduction on investor and interest-only loadings.
Effective from Feb. 1, MA Money has also implemented significant rate reductions for vacant land and SMSF residential loans.
Vacant land loan rates have been lowered across all products and LVR bands by up to 2.45%, with no clawbacks.
For SMSF residential loans, rates have been reduced by up to 0.4% across all LVR bands, accompanied by a revamped fee structure that includes a reduced legal fee from $2,000+GST to $750+GST, a $0 application fee, and a new $399 annual fee.
For details, visit the MA Money website.
