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The non-bank lender has extended its loan discount offer until the end of January 2025.
Non-bank mortgage lender MA Money has extended its loan discount offer for a further two months, adding further discounts and removing the risk fee for prime loans between $2 million and $3 million.
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The ‘summer special’ offer applies to loans submitted between 1 December 2024 and 31 January 2025 and settled by 30 April 2025.
The extended offer provides a discounted 7.14 per cent rate for prime full doc and alt doc loans up to 80 per cent loan-to-value ratio (LVR) and $2 million.
There are no risk fees for prime alt doc loans up to 80 per cent LVR and $2 million and also for prime loans between $2 million and 3 million.
There is 0.75 per cent risk fee for prime loans between $3 million and $5 million.
MA Money has also reduced investor and interest-only loadings to 0.15 per cent and cut loadings by 0.2 per cent for loans between $1.5 million and $2 million.
Effective from 1 December 2024, a 1.01 per cent buffer will apply to refinancing applications for prime loans, available exclusively for principal and interest (P&I) mortgages refinanced to another P&I mortgage.
The move is aimed at simplifying the refinancing process and improving accessibility for eligible clients.
“This extended promotion continues to deliver exceptional value to brokers and their clients, with rate discounts and risk fee and loading reductions, designed to make financing more accessible,” MA Money national sales manager, Tim Lemon, said.
“Extending our spring offer into the summer special ensures that brokers can continue delivering outstanding value to their clients. Coupled with our new 1 per cent buffer policy for prime refinances, we’re reinforcing our commitment to flexibility and innovation in lending.
“This update reflects MA Money’s commitment to refining policies that support brokers in meeting their clients’ unique financial needs. This policy excludes loans involving cash out or debt consolidation.”
[Related: MA Money prints $500m RMBS]
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