Non-bank MA Cash has launched a brand new product vary, together with a major residence mortgage suite which gives one other viable choice for residence mortgage debtors.
MA Cash nationwide gross sales supervisor Melanie de Jager (pictured above left) mentioned MA Cash had additionally partnered with fintech Simpology to create a brand new on-line mortgage origination system with digital efficiencies to make the expertise for brokers and their purchasers extra seamless.
“We’re actually excited to announce these new initiatives which follows the latest launch of the MA Cash rebrand,” de Jager mentioned.
“The brand new product vary with nice pricing now means we will provide the total vary of merchandise. With versatile insurance policies and aggressive pricing, brokers will be capable of assist extra debtors obtain their goals from prime to specialist debtors and every thing in between, MA Cash now has the options to suit.”
Beforehand often known as MKM Capital, the non-bank lender revealed its new model MA Cash in November. It mentioned the brand new look aligned with the values of MA Cash’s lending enterprise and guardian model MA Monetary Group.
“MA Cash’s enterprise providing has undergone important change since MA Monetary took full management,” de Jager mentioned. “We’re in a a lot stronger place to assist our purchasers try in direction of a happier, financially safe future.”
de Jager mentioned key options of the brand new vary included prime full doc charges ranging from 5.05% and alt doc charges ranging from 5.95%, with no Lenders Mortgage Insurance coverage (LMI) as much as 90% LVR.
“MA Cash additionally provides aggressive charges throughout its non-conforming merchandise and has reviewed its price construction which now consists of no ongoing charges,” she mentioned. “The implementation of our new expertise platform additionally permits us to supply a 48-hour service stage settlement (SLA) to conditional approval on your complete vary, together with specialist merchandise.”
de Jager mentioned the partnership with Simpology would enable brokers to submit larger high quality mortgage purposes with much less effort.
“By means of sensible validations and third-party integrations, receiving credit-ready purposes has been on the core of our expertise imaginative and prescient so we will quick monitor evaluation and enhance time to determination,” she mentioned.
de Jager mentioned MA Cash would even be launching its core banking platform, enabling the lender to supply break up loans, offset and redraw to debtors, with web banking being provided in Q1 2023.
“The brand new expertise platform can be rolling out throughout the trade throughout December and we consider with new merchandise, folks, branding and expertise, it should put us on a fast journey to changing into Australia’s lender of selection,” she mentioned.
MA Monetary joint CEO Chris Wyke (pictured above proper) mentioned the brand new product platform was a major step ahead for its lending enterprise.
“Introducing modern product and expertise options is vital to the expansion of MA Cash and our aspirations to grow to be a major participant within the residential mortgage market,” Wyke mentioned. “We intention to originate and handle a multi-billion greenback diversified residential mortgage ebook within the subsequent few years.”
In March, MA Monetary Group secured full possession of MKM, in a transfer Wyke mentioned would create a brand new and thrilling participant within the Australian lending market.
“MA Monetary sees the Australian residential mortgage market as an enormous progress alternative,” he mentioned. “Changing into a part of MA Monetary is an thrilling evolution for MKM, which has been offering Australian debtors with tailor-made residence mortgage options since 2004.”