Using the six years of the spectroscopic monitoring of the luminous quasar HE 0435-4312 (z = 1.2231) with the Southern African Large Telescope (SALT), in combination with the photometric data (CATALINA, OGLE, SALTICAM, and BMT), we determined the rest-frame time-delay of 296 +13 −14 days between the MgII broad-line emission and the ionizing continuum using seven different timedelay inference methods. The MgII emission is considerably variable with the fractional variability of ∼ 5.4%, which is comparable to the continuum variability. Because of its high luminosity (L 3000 = 10 46.4 erg s −1 ), the source is beneficial for a further reduction of the scatter along the MgII-based radiusluminosity relation and its extended versions, especially when the high-accreting subsample that has an RMS scatter of ∼ 0.2 dex is considered. This opens up a possibility to use the high-accretor MgIIbased radius-luminosity relation for constraining cosmological parameters. With the current sample of 27 reverberation-mapped sources, the best-fit cosmological parameters (Ω m , Ω Λ ) = (0.19; 0.62) are consistent with the standard cosmological model within 1σ confidence level.