MA Money has updated its product suite as the need for alternative lending gains traction in Australia's loan and property markets.
The non-bank lender, a division of global alternative asset management firm MA Financial, has expanded with two new offerings: the launch of MA Money More, as well as reduced verification options for commercial loans.
Tim Lemon, MA Money's national sales manager, told Australian Broker that "our decision to expand loan sizes under MA Money More was driven by direct feedback from brokers and the realities of the current property market. Rising property values, particularly in metro areas, mean clients — especially self-employed borrowers — are increasingly looking for larger loan amounts to fund purchases or refinances."
In fact, home values have jumped by $65,200 nationwide in the 12 months leading up to October, according to the PropTrack Home Price Index, thanks to continued rate cuts and the persistent housing shortage. And with updated housing schemes and record demand from buyers, property prices are unlikely to ease soon. As a result, many borrowers who fall outside traditional banks’ lending criteria are increasingly turning to alternative funding options.
"We've seen a clear demand from brokers for more flexibility at the higher end of the prime market, including for alt doc loans, which continue to be a vital option for self-employed clients with complex income structures," Lemon said. "MA Money More opens the door for larger, more complex deals to be written with confidence. We know that brokers value choice and simplicity. It gives brokers the flexibility they need to support self-employed and expat clients with solutions that make sense.”
MA Money More offers larger loans for prime borrowers, while expat and self-employed borrowers have more flexibility of terms. Features include — for prime full doc and alt doc loans in category 1 locations — expanded residential loans of up to $15 million, compared with the previous limit of $5 million. Meanwhile, vacant land loans are now available up to $5 million, compared with the previous cap of $1.5 million. Also, under MA Money More, expat loans of up to $5 million have an 80% loan-to-value ratio (LVR), compared with the previous LVR of 75%.
Category 1 locations include all Australian capital cities, along with key regional areas that have "strong property values and demand," the company said. Brokers can check the maximum loan amount and LVR for each postcode using the ‘Postcode Lookup Tool’ on MA Money’s website.
In addition, Lemon said the group's credit assessment processes and services levels will remain exactly the same. "Including our 48-hour service level agreement (SLA) to conditional approval," he said. "Brokers can continue to expect the same fast decisions and streamlined documentation they’re already familiar with across all MA Money products."
That means, whether a broker is submitting a $500,000 loan or a $15 million loan, MA "applies the same thorough assessment framework," Lemon said. "Our credit philosophy focuses on understanding the borrower’s circumstances behind each deal, rather than relying on rigid scoring models. That approach doesn’t change with loan size; it’s about applying sound credit principles and making sensible decisions that align with our risk appetite."
Demand is also growing for more commercial loan options in Australia’s fast-moving property and lending markets.
"There's a growing need for flexible verification options," said Craig Stuart, head of commercial at MA Money.
As a result, the non-bank has rolled out light doc and lease doc verification options for commercial loans. Under the lease doc agreement, prime borrowers must have at least 24 months remaining on their lease to verify income, while near-prime borrowers need a minimum of six months. Light doc loans lets self-employed borrowers verify their income via a Declaration of Financial Position, rather than providing full tax returns or detailed accounts. Both verification options are available for loans up to $2 million.
"Our lease doc and light doc loans create the path of least resistance, making it easier for brokers to get deals through without unnecessary hurdles," Stuart explained.
The executive added: "We're definitely seeing more commercial borrowers fall outside traditional bank criteria. Banks are digging much deeper into credit profiles and are often reluctant to take on company or trust borrowers, which makes it harder for brokers to place good deals. We’re simplifying that process.
"MA Money's approach focuses on assessing the strength of the deal and the borrower’s real cash flow, rather than box-ticking," Stuart continued. "It’s about giving brokers a practical solution for clients who would otherwise be overlooked by traditional lenders.
"For many borrowers, these options allow us to rely on self-declaration or lease income rather than financial documentation," he said. "It also gives brokers another avenue to write a deal when an accountant is unwilling to sign a declaration. The focus is on making practical, well-supported lending easier, while maintaining MA Money’s consistent credit standards."
