MA Money Financial Services Vacant Land Loan – Specialist (≤$2m)
Variable rateOffsetRedraw
MA Money Specialist vacant-land mortgage for investment purposes, available under Full Documentation and Alternative Documentation pathways.
- Interest rate a year, from
- 10.94%
- Comparison rate
- Not published
- Upfront fees
- $1,798
- Annual fee
- None
- Monthly fee
- $10
Monthly repayment
$600,000 over 30 years
What it would cost
At the lowest rate of 10.94% (variable, investment, principal and interest), including the monthly fee. The rate you are offered depends on your deposit and the loan you choose, and upfront fees are not included.
- Monthly repayment
- $5,697
- Total repayments
- $2,050,832
- Interest and monthly fees
- $1,450,832
Rates
Every rate MA Money Financial Services publishes for this loan. LVR is the loan as a share of the property's value: 80% for a 20% deposit.
| Rate | Property | Repayments | LVR | Interest rate | Comparison rate |
|---|---|---|---|---|---|
| Variable | Investment | Principal and interest | Up to 65% | 10.94% | – |
| Variable | Investment | Principal and interest | Up to 65% | 11.39% | – |
| Variable | Investment | Principal and interest | 65% to 70% | 11.14% | – |
| Variable | Investment | Principal and interest | 65% to 70% | 11.59% | – |
| Variable | Investment | Principal and interest | 70% to 75% | 11.39% | – |
| Variable | Investment | Principal and interest | 70% to 75% | 11.74% | – |
| Variable | Investment | Principal and interest | 75% to 80% | 11.64% | – |
| Variable | Investment | Principal and interest | 75% to 80% | 12.09% | – |
| Variable | Investment | Interest only | Up to 65% | 11.14% | – |
| Variable | Investment | Interest only | Up to 65% | 11.59% | – |
| Variable | Investment | Interest only | 65% to 70% | 11.34% | – |
| Variable | Investment | Interest only | 65% to 70% | 11.79% | – |
| Variable | Investment | Interest only | 70% to 75% | 11.59% | – |
| Variable | Investment | Interest only | 70% to 75% | 11.94% | – |
| Variable | Investment | Interest only | 75% to 80% | 11.84% | – |
| Variable | Investment | Interest only | 75% to 80% | 12.29% | – |
Comparison rates are for an example loan of $150,000 over 25 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
Fees and features
Fees
- Upfront fees
- $1,798
- Annual fee
- None
- Monthly fee
- $10
Features
- Offset account
- Yes
- Redraw
- Yes
- Highest LVR
- 80%
- Loan amount
- From $100,000 up to $2,000,000
How it compares
Against the other home loans we compare, for a home you live in with a 20% deposit. Typical means the middle half of them.
Upfront fees
$1,798
Typical upfront fees are $600.
Annual fee
None
A typical annual fee is $350.
Smallest deposit
20%
Most loans need at least 10% of the price.
Pros and cons
Pros
- No annual fee. Nothing extra to pay each year over the life of the loan.
- An offset account. Money in it is taken off your balance when interest is worked out, so your savings and pay cut the interest while staying easy to reach.
- Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
- Redraw. You can take back extra repayments later if you need the money.
- No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.
- Interest only available. Some investors use it to keep repayments down for a few years, though the balance doesn't fall in that time.
Cons
- Higher upfront fees. $1,798, above the typical $600, which adds to the cash you need at settlement.