Non-bank mortgage lender MA Money has announced two major product updates, expanding its flexible lending solutions for brokers and their clients with the launch of MA Money More plus offering new income verification options for Commercial loans.
MA Money’s National Sales Manager, Tim Lemon, said MA Money More will offer larger loan sizes for Prime borrowers and greater flexibility for expat and self-employed clients.
Under MA Money More, Prime Full Doc and Alt Doc loans in Category 1 locations now offer:
- Residential loans up to $15 million (previously $5 million)
- Vacant Land loans up to $5 million (previously $1.5 million)
- Expat loans up to $5 million and 80% LVR (previously 75%)
“We know that brokers value choice and simplicity,” Lemon said.
“MA Money More opens the door for larger, more complex deals to be written with confidence. It gives brokers the flexibility they need to support self-employed and expat clients with solutions that make sense.”
MA Money has also launched Light Doc and Lease Doc verification options for Commercial loans, making it simpler for brokers to help self-employed clients and business borrowers.
Head of Commercial, Craig Stuart, said the new income verifications include:
- Lease Doc: Uses the lease agreement for verification (Prime – minimum 24 months remaining; Near Prime – minimum 6 months)
- Light Doc: Allows self-employed borrowers to verify income via a Declaration of Financial Position
Both verification types are available for loans up to $2 million.
“Commercial borrowers don’t always fit into a one-size-fits-all model,” Stuart said.
“Light Doc and Lease Doc give brokers more ways to structure a deal without adding complexity. It’s about practical lending that works for the broker and their client.”
Find out more about MA Money more here.
Applications for credit are subject to eligibility and lending criteria. Fees and charges are payable and terms and conditions apply (available on request). MA Money Financial Services Pty Ltd ACN 639 174 315 Australian Credit Licence 522267
