MA Money

MA Money has a tendency to inflate interest rates once you're locked in with them. They cite "increasing costs of financing" — without any actual explanation of what those costs are — to justify adding an extra 0.13% on top of RBA rate increases. Having used numerous lenders in the past, including non-bank lenders, this is the first time I've encountered unexplained rate hikes like this. Show details

In my opinion, this is my experience with them: 1. We send them a valuation. They said this property is ok, send the application. 2. We spend so much effort and time, and they come back and say ‘Oh, we can’t because of the type of property.’ 3. Surprise! the reason your saying NO is in the valuation which we sent you in the first place! 4. Cut… Read more

long and short, they are free to make decisions you like, but they can’t go around wasting people’s effort sending applications, and time waiting (when you have a settlement approaching), when you could have advised correctly at the start. This is blatantly unethical and immoral. 5. Be wary of how they do things, don’t risk your settlement.

DONT use MA Money for finance – I dealt with this company for over 10 years, no arrears and a good relationship until i placed the trustee company for my family trust in liquidation which MA money were advised of 5 years ago. They had no issues with this as the security property for the trust they had a 1st mortgage over it and the account was always kept in order. 5 years on… Read more

from us liquidating the trustee company we applied for a vesting order through the court so the family trust had a working trustee to manage the trust, MA money's security was still held via a 1st mortgage, when they were made aware we were applying to have a new trustee to manage the trust which would in no way affect their security they immediately tried to repossess the property via their lawyers. They were agressive and unethiocal in dealing with the matter, we refinanced and paid all of their legal costs . My advice is to NOT finance through this company as they are wolves in sheeps clothing and use very agressive lawyers if you find yourself on the wrong side of them, not only that there are a lot of cheaper alternatives to MA money if you shop around.