Macquarie Home Loans

Read on to compare some of Macquarie Bank’s key home loan interest rates and the key features they have.

Founded in December 1969, Macquarie Bank set out to provide Australians with a range of financial services of an international standard. Now a global business operating in over 27 countries, Macquarie offers a diverse range of financial products, including mortgages.

Whether you're a first home buyer, a refinancer or a property investor, Macquarie Bank has a wide range of mortgage products to suit a variety of borrowers' needs. The bank says it is committed to providing its customers with competitive interest rates to help facilitate their journey to homeownership. 

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Compare Macquarie home loans

Lender
Advertised rate Comparison rate Monthly repayment Rate TypeOffsetRedrawOngoing FeeUpfront FeesLVRLump Sum RepaymentAdditional RepaymentsPre-approval
FixedMore details
NO UPFRONT OR ONGOING FEES

Basic Home Loan Fixed (Principal and Interest) (LVR < 70%) 3 Years

NO UPFRONT OR ONGOING FEES
VariableMore details
FREE REDRAW FACILITY

Basic Home Loan (Principal and Interest) (LVR 70%-80%)

FREE REDRAW FACILITY
FixedMore details
NO ONGOING FEES

Basic Home Loan Fixed (Principal and Interest) (LVR 70%-80%) 3 Years

NO ONGOING FEES

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to made on variables as selected and input by the user. All products will list the LVR with the product and rate which are clearly published on the Product Provider’s web site. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *Comparison rate is based on a loan of $150,000 over a term of 25 years. Please note the comparison rate only applies to the examples given Rates correct as of September 25, 2021. View disclaimer.

What home loans does Macquarie offer?

Macquarie offers home buyers two key home loan products:

  • Basic Home Loan: a basic, fee-free home loan with a competitive variable interest rate.
  • Offset Home Loan: a low rate home loan that enables you to offset your savings against the loan principal and reduce the interest you have to pay. 

These mortgages are available for owner-occupiers and investors with the option of either principal and interest or interest-only repayments. 

Macquarie mortgage features

Accompanying Macquarie's key home loan products are the following features: 

  • Fee-free: Selected home loan products are free from establishment fees and/or monthly fees. 
  • Credit cards: Eligible loan accounts can have the annual fees for their credit cards waived and receive a competitive rate for a limited time with a packaged loan. 
  • Split loans: Customers can choose to split their loans into different repayment types.
  • Offset account: Offset account facilities are available for offset home loans.
  • Redraw facility: A redraw facility is available on most home loans except for construction loans, fixed-rate home loans or SMSF loans.
  • Additional repayments: Extra repayments can be made to variable interest rate home loan accounts without any additional fees.

Not all products will have all of these features. Be sure to consult your broker or home loan specialist from Macquarie Bank for more details.

How to apply for home loan with Macquarie Bank

Eligibility criteria

To be eligible to apply for a home loan with Macquarie Bank, you generally need to:

  • Be 18 years of age or over
  • Be an Australian citizen or permanent resident
  • Have a regular source of income
  • Demonstrate your ability to service the loan

Documents and information needed

To ensure a straightforward application, you should have the following documents handy:

  • A form of identification document (e.g., driver’s license, birth certificate, passport)
  • Your annual income and estimated assets
  • Your estimated expenses and liabilities
  • A current email address and mobile phone number

Frequently asked questions

How long does it take for Macquarie Bank to process my mortgage application?

Pre-approval generally takes less time than an unconditional approval. In most cases, you could receive a pre-approval within one business day of completing your application. The time frame for an unconditional approval, on the other hand, can vary as it largely depends on how quickly the bank can verify your identity, assess your application and transfer security.

How does Macquarie Bank verify my identity?

The bank verifies your identity electronically, using the personal details you supply during your application. In some cases, should further information is required, it may verify your identity with ZipID; a mobile service that comes to you to conduct the verification in person. You would need to have your driver's license or passport on hand if that was the case.

Why was my mortgage unsuccessful?

Regardless of lenders, your mortgage application can be unsuccessful if you don't meet the eligibility criteria or haven't supplied all the documentation required for the process to move forward.

Considering other lenders? Compare home loans with these low-rate offers for owner occupiers:

Lender
Advertised rate Comparison rate Monthly repayment Rate TypeOffsetRedrawOngoing FeeUpfront FeesLVRLump Sum RepaymentAdditional RepaymentsPre-approval
VariableMore details
LIMITED TIME OFFER

Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)

  • Fast turnaround times, can meet 30-day settlement
  • For purchase and refinance, min 20% deposit
  • No ongoing or monthly fees, add offset for 0.10%
LIMITED TIME OFFER

Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)

  • Fast turnaround times, can meet 30-day settlement
  • For purchase and refinance, min 20% deposit
  • No ongoing or monthly fees, add offset for 0.10%
FixedMore details
NO UPFRONT OR ONGOING FEES

Basic Home Loan Fixed (Principal and Interest) (LVR < 70%) 3 Years

NO UPFRONT OR ONGOING FEES
VariableMore details
100% FULL OFFSET ACCOUNTNO APPLICATION FEE OR ONGOING FEES

Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 60%)

  • No upfront or ongoing fees
  • 100% full offset account
  • Extra repayments + redraw services
100% FULL OFFSET ACCOUNTNO APPLICATION FEE OR ONGOING FEES

Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 60%)

  • No upfront or ongoing fees
  • 100% full offset account
  • Extra repayments + redraw services

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to made on variables as selected and input by the user. All products will list the LVR with the product and rate which are clearly published on the Product Provider’s web site. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. Rates correct as of September 25, 2021. View disclaimer.