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About Macquarie

Starting in 1969 as Hill Samuel Australia Limited, Macquarie Bank Limited has gone on to become one of the world’s largest infrastructure asset manager, operating in more than 30 markets around the world.

Macquarie home loans at a glance

Offset accounts available
Redraw facilities available
Line of credit available
Split rate option available
Green loan available
Ability to make extra repayments
Internet banking available
Salary crediting
Choice of repayment flexibility
Refinance available
Services first home buyers

What types of home loans does Macquarie offer?

Macquarie’s range of home loan products on offer currently includes:

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Who does Macquarie lend to?

Macquarie offers a range of home loan products for first home buyers, refinancers, prospective house-builders looking for a construction loan, borrowers looking for bridging finance between their current home loan and their next one, property investors and more.

However, when it comes to what types of borrowers Macquarie lends to, there are a few points that prospective borrowers should keep in mind.

The first is that Macquarie has a minimum required loan-to-value ratio (LVR) of 90%, meaning its’s likely that you won’t be approved for a home loan with Macquarie if your saved deposit is less than 10% of your total proposed loan size.

Macquarie also likely won’t lend to you if you don’t have the capacity to repay your proposed home loan at a rate 3% higher than the advertised interest rate. This is because the Australian Prudential Regulation Authority (APRA) requires all lenders to assess an applicant’s ability to service their proposed home loan in the event of interest rate hikes.

Can I get a Macquarie home loan as a first home buyer?

Yes, Macquarie provides home loans to first home buyers. While they don’t have a specific home loan product for first home buyers, they have several tools and resources available help them navigate the process of buying a home for the first time.

Does Macquarie offer the Home Guarantee Scheme?

No, Macquarie isn’t one of the 33 participating lenders chosen by the Federal Government to offer the Home Guarantee Scheme.

The Home Guarantee Scheme helps certain home buyers secure a home loan with a deposit smaller than 20%, without having to pay lenders mortgage insurance (LMI). Applications for one of these schemes can only be made through a participating lender or a mortgage broker acting as an authorised representative of a participating lender.

Can you refinance your home loan with Macquarie?

Yes, you can switch your home loan to Macquarie from another bank by refinancing. Borrowers refinancing their loan with Macquarie can choose either a fixed, standard variable rate or split rate loan to switch to and can add a redraw facility and/or up to 10 offset accounts to eligible loans.

Does Macquarie charge Lenders Mortgage Insurance (LMI)?

Macquarie does not charge LMI but advises that they require a borrower to pay a low deposit fee (LDF) if the borrower’s LVR is greater than 80% (meaning their deposit represents less than 20% of the total loan value).

What home loan fees does Macquarie charge?

As of 15 May 2024, Macquarie charges the following fees across its range of home loan products. Please note that not every fee will apply to every home loan offered by Macquarie, and that these fees are subject to change without notice. s

  • Package fee: $248
  • Construction administration fee: $1,500
  • Documentation fee: $350
  • Mortgage discharge fee: $400

Interested in a Macquarie home loan? Compare with us today!

If you want to learn more about Macquarie home loans, you can use our home loan comparison tool to compare them against a wide range of other loan products from nearly 20 other lenders!

Comparing home loans with us means only being shown home loans you’re eligible to apply for, and having a dedicated team of Home Loan Specialists on-hand to help you with any questions you may have. And if you find a home loan that you think might be appropriate for you, you can apply for it then and there – entirely online, with no physical paperwork!

So, if you’re in the market for a home loan, compare your options today with Compare the Market!

Stephen Zeller, Home Loans Expert

Meet our home loans expert, Stephen Zeller

Stephen has more than 30 years of experience in the financial services industry and holds a Certificate IV in Finance and Mortgage Broking. He’s also a member of both the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) and the Mortgage and Finance Association of Australia (MFAA).

Stephen leads our team of Home Loan Specialists, and reviews and contributes to Compare the Market’s banking-relating content to ensure it’s as helpful and empowering as possible for our readers.

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