MA Money extends spring mortgage offer

Non-bank mortgage lender MA Money has extended its popular Spring Offer through Nov. 30, following strong broker interest.

Initially available for new loan submissions between Sept. 20 and Nov. 1, the promotion now includes additional discounts and a waived risk fee on certain prime loans between $2 million and $3 million.

Exclusive discounts and waived fees

Tim Lemon (pictured above), MA Money’s national sales manager, announced the extended offer, explaining that brokers’ positive feedback prompted the decision.

“With these enhanced discounts, brokers can offer a competitive edge to clients, from self-employed individuals to expat borrowers,” Lemon said.

The Spring Offer includes significant rate reductions, particularly for Prime Full Doc and Alt Doc loans at up to 80% LVR, now available at 7.14%.

Key benefits of the extended Spring Offer include:

• 50% reduction on investor and interest-only loan loadings: This applies to loans ranging from $1.5m to $2m.
• Risk fee waivers:
  • No risk fee on Prime Alt Doc loans up to 80% LVR.
  • No risk fee on Prime Full Doc and Alt Doc loans from $2m to $3m.
  • Reduced risk fee of 0.75% on loans above $3m.
• Prime rate discount: Reduced rates for Prime Full Doc and Alt Doc loans, down to 7.14% (comparison rate 7.20%).

Increased value for brokers and clients

With this offer, brokers can provide clients, including self-employed and expat borrowers, with competitive loan options.

Loans submitted between Nov. 4 and Nov. 30 qualify for the special rates, with final settlements required by Feb. 28.

Prior to this news, MA Money announced the launch of its new residential large loan products, offering prime home loans up to $5m and near prime loans up to $3m.

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