Non-bank introduces higher loan limits and new income verification methods
Non-bank lender MA Money has introduced significant changes to its product range in order provide brokers and their clients with broader lending choices.
The updates include the launch of MA Money More, which features increased loan amounts for prime borrowers, as well as enhanced flexibility for expatriate and self-employed applicants.
According to Tim Lemon (pictured top), national sales manager at MA Money, the new offering allows for residential loans up to $15 million in Category 1 locations, a rise from the previous $5 million limit. Vacant land loans now reach up to $5 million, compared to the earlier cap of $1.5 million. Expatriate borrowers can access loans up to $5 million with a loan-to-value ratio of 80%, up from 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, a subsidiary of MA Financial Group, earlier reported that it had more than doubled its loan book in just nine months, surpassing $4 billion in loans under management, up from $2 billion in December 2024.
In addition to the changes for residential lending, MA Money has introduced Light Doc and Lease Doc income verification options for commercial loans. These alternatives are designed to assist brokers working with self-employed and business clients.
Lease Doc uses the lease agreement as proof of income, with prime loans requiring a minimum of 24 months remaining on the lease and near prime loans needing at least six months. Light Doc enables self-employed borrowers to verify income through a declaration of financial position. Both methods are available for commercial loans up to $2 million.
“Commercial borrowers don’t always fit into a one-size-fits-all model,” said Craig Stuart, head of commercial at MA Money. “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.”
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