MA Money extends loan discounts

Non-bank mortgage lender MA Money has rebranded and extended its Spring Prime loan discount offer, now dubbed the Summer Special.

The extended promotion, originally slated to end in November, will continue until Jan. 31, offering brokers and their clients additional savings and reduced fees on qualifying loans.

The rebranded Summer Special offer eliminates the risk fee for Prime loans ranging from $2 million to $3 million and includes rate and loading discounts.

Submissions for the Summer Special are open from Dec. 1 through Jan. 31, with settlements required to be finalized by April 30.

Tim Lemon (pictured above), who was promoted MA Money’s national sales manager in October, explained the decision to extend the non-bank’s Spring Offer.

“Extending our Spring Offer into the Summer Special ensures that brokers can continue delivering outstanding value to their clients,” Lemon said. “Coupled with our new 1% buffer policy for Prime refinances, we’re reinforcing our commitment to flexibility and innovation in lending.”

Key benefits of the Summer Special

The Summer Special provides enhanced incentives for brokers and borrowers, including:

• Rate discounts:
  • 7.14% for Prime Full Doc and Alt Doc loans up to 80% LVR and $2m.
• Risk fee discounts:
  • No risk fee for Prime Alt Doc loans up to 80% LVR and $2m.
  • No risk fee for Prime loans between $2m–3m.
  • 0.75% risk fee for Prime loans between $3m–5m.
• Reduced loadings:
  • Investor and interest-only loadings reduced to 0.15%.
  • Loan size >$1.5m–$2m loading reduced to 0.2%.

New refinancing policy introduced

Effective Dec. 1, a 1.01% buffer applies to Prime loan refinancing (P&I to P&I only). This update is designed to simplify the refinancing process and enhance accessibility for eligible borrowers.

For more details on the Summer Special, visit MA Money.

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