Spring offer: MA Money makes raft of policy changes

Non-bank mortgage lender MA Money has announced the launch of its first-ever Spring offer, which will provide discounts to rates, loadings and risk fees designed to better serve a broad range of customers.

This limited-time offer is available for new loans submitted between Sept. 20, 2024, and Nov. 1, 2024, with settlements required by Jan. 31, 2025.

Tim Lemon (pictured above), MA Money National Sales Manager, emphasised the significance of the latest initiative.

"This is MA Money's first-ever discount offer in the market, and it was crucial for us to deliver real value across a wide array of customers,” he said.

By offering reduced rates, loadings, and risk fees, Lemon said the move will help ensure MA Money’s broker partners have the tools to provide meaningful solutions to their clients.

“This Spring offer and our recent policy updates reflect our commitment to helping brokers and customers access flexible and affordable finance options, no matter how unique their circumstances may be,” Lemon said.

“MA Money has the backing and the confidence in our proven ability to deliver the high-quality and flexibility our highly valued brokers and their customers expect.”

What’s in the Spring offer?

The key features of the MA Money Spring offer include:

50% off loadings

• Investor and Interest Only loading now 0.15%
• Loan size over $1.5m-$2m loading now 0.20%

Risk fee discounts

• 0% Risk Fee for Prime Alt Doc loans up to 80% LVR for loans up to $2m
• 0.75% Risk Fee for Prime loans between $2m and $5m

Rate discounts

• Reduced rate for Prime Alt Doc less than 70% LVR up to $2m

Important policy updates

Along with the Spring offer, MA Money has implemented several important policy updates to further extend its customer reach.

These include:

• Near Prime credit impairments and mortgage arrears:
  • Accepted impairments under 12 months increased to $3,000
  • Defaults over $3,000 accepted if listed over 12 months and paid
  • Up to 1 month mortgage arrears now allowed
• Interest Only term extended to 10 years for Prime Investor loans less than 80% LVR
• Category 2 postcodes: Max LVR increased to 80%
• Category 3 postcodes: Max loan amount increased to $500,000
• High Density apartments: Max LVR increased to 80%
• Specialist loans: LVR under 80% max loan amount increased to $1m
• Expat loans: Cash out available up to max LVR

New season, new offerings

While the Spring offer may be MA Money’s signature policy offer for the season, the non-bank lender hasn’t been idle over the winter months.

In August, MA Money 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.

This followed the non-bank lender scrapping clawbacks on its vacant land loans in June after cracking the $1 billion settlement milestone in March.

Brokers are encouraged to attend the MA Money Update Webinar on Wednesday, September 25, at 12pm AEST for a detailed overview of the offer and policy changes.

To register visit: https://mafinancial.zoom.us/webinar/register/WN_vHajDJcrRqqRuTnmXJlUFw