MA Money launches large prime, near prime loans

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

The initiative aims to meet growing market demand for larger loans, particularly for customers suited to the near prime product.

Tim Lemon (pictured above), MA Money’s state manager for NSW/QLD/VIC, expressed excitement over the new offering.

“Our latest product initiative responds to a growing demand in the market for large loans,” Lemon said.

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Alt Doc options for self-employed borrowers

A key feature of the new near prime loans is the flexibility offered to self-employed borrowers through Alt Doc loan qualifications.

With just one income verification document required and 12 months of ABN and six months of GST registration, MA Money offers simplified options for customers looking to purchase or refinance high-value properties.

“MA Money’s Alt Doc options offer crucial flexibility to self-employed customers,” Lemon said.

No investor loading and flexible cash-out features

The large loan products also include attractive features such as no investor loading and cash-out options up to the maximum LVR of the product.

Borrowers can consolidate unlimited debts, including tax and private loans, giving them greater financial flexibility.

Additional policy enhancements

MA Money has rolled out further enhancements, including expanded income verification options for specialist home loans, increased cash-out limits for private lending refinancing, and reduced rates for prime non-resident home loans.

Lemon said that MA Money has “the backing and the confidence in our ability to deliver high-quality and flexible products.”

 “We couldn’t deliver unique product solutions without the support of our broker partners,” Lemon said.

MA Money’s competitive edge for high-value loans

With this product launch, MA Money aims to set itself apart in the competitive home loan market by providing large loan solutions designed to offer flexibility and customisation, especially for self-employed customers and borrowers in need of refinancing options.

Prior to this move, MA Money announced the removal of clawbacks from its vacant land loans and the launch of its FASTRefi service in partnership with FMS.

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