MA Money launches new resi large loan offering

MA Money has announced that it is now offering Prime home loans up to $5 million and Near Prime loans up to $3 million for qualified borrowers as of 20 August 2024.

Tim Lemon, MA Money state manager for NSW/Queensland/Victoria, highlighted the expanded offering, which includes Alt Doc options for self-employed customers and eliminates investor loading.

“Since our launch almost two years ago, MA Money has consistently sought innovative ways to better serve our customers’ diverse lending needs,” Lemon said.

“Our latest product initiative responds to a growing demand in the market for large loans, particularly among customers suited to our Near Prime product. We’ve developed a tailored solution to meet their unique needs.”

Lemon further emphasised the company’s confidence in its ability to deliver high-quality and flexible solutions: “MA Money has the backing and the confidence in our ability to deliver the high-quality and flexibility that brokers and customers have come to expect from us.

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

Some of the key features of MA Money’s Large Near Prime Loans up to $3 million include:

• Alt Doc loan qualifications for self-employed customers with an existing ABN for 12 months and six months’ GST registration, in addition to flexibility in income verification, with just one income verification document required.
• Cashout up to the maximum LVR of the product.
• Unlimited debt consolidation, including tax debts and private loans.

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

“We’re pleased to extend this support to those looking to purchase or refinance high-value residential properties.”

This comes as MA Money’s parent company MA Financial (ASX: MAF) announced the formation of a partnership with Humm Group’s (ASX: HUM) asset finance platform Flexicommercial.

This collaboration will see MA Financial acquire up to $1 billion worth of commercial asset finance loans through its private credit managed funds in a forward flow arrangement.

This reported Australian-first partnership grants MA Financial’s private credit funds access to a significant pipeline of high-quality, prime asset finance loans, leveraging Flexicommercial’s expertise.

The $1 billion worth of commercial asset finance loans, which include an initial seed pool of $500 million, represent a substantial portion of Flexicommercial’s origination volume during the partnership’s initial term, alongside its warehouse and term deal programs.

[RELATED: MA Financial Group strikes ‘first co-lending’ deal through partnership]

Adrian Suljanovic is a journalist at Broker Daily with more than two years experience reporting on all facets of the third party distribution channel.

Adrian has written for a range of business and finance titles including IFA, Investor Daily and Lawyer’s Weekly before joining the mortgages team in 2022.

He graduated from the University of Wollongong in 2021 gaining a Bachelor of Communication & Media with a major in Digital & Social Media.

E-mail Adrian at: This email address is being protected from spambots. You need JavaScript enabled to view it.