Macquarie Group Limited (commonly known as Macquarie Bank) employs more than 14,000 staff in over 70 office locations across 28 countries. It is headquartered in Sydney.
Macquarie Bank provides a wide range of home loans, including mortgages for first homebuyers, investors, upgraders and renovators.
Customer service is available through the online service portal, mobile app, or via phone.
Macquarie Bank home loans rates
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- Large variety of home loan products to suit all borrowers.
- Flexible loan options.
- Ability to earn Frequent Flyer Points on some loans.
- Some loans have high fees.
- Limited physical branch network.
Potential customers can contact Macquarie Bank through a range of specialist hotlines including a home loan hotline and a general enquiry line. Alternatively, customers can submit an online enquiry and a Macquarie Bank home loan specialist will make contact.
✓ Customer service centre (phone)
✓ Mobile app
✓ Online banking
✓ Mobile banking staff
How to Apply
Borrowers wanting to apply for a Macquarie Bank home loan can complete an online enquiry form or call a loan specialist directly. Before applying for a Macquarie Bank home loan, consider what you can afford to borrow and what other costs you need to factor in.
- Proof of employment and income including recent payslips.
- Proof of identity.
- Provide a list of assets, debts and liabilities including car loans and personal loans.
About Macquarie Bank home loans
Macquarie Bank home loans are tailored to suit a wide range of customers. Home loans offered by the bank include:
- Owner-occupier home loans
- Investor home loans
- Refinancing home loans
- Equity home loans (reverse mortgages)
- SMSF home loans
- Construction loans
- Lines of credit
Additionally, Macquarie Bank home loans are available with a variety of interest rate and repayment options:
- Principal and interest
- Variable interest
- Fixed interest
- Split home loans
Borrowers can choose to have an offset account with some Macquarie Bank mortgages, meaning they can use their savings to offset the total amount owed on the loan and reduce the amount of interest payable.
Macquarie Bank home loans come with a maximum loan term of 30 years. Extra repayments are allowed on selected home loan products, as are redraw facilities.
Macquarie Bank home loan rates
Macquarie Bank home loan interest rates tend to be moderately low to moderately high, depending on the amount borrowed and the LVR.
Macquarie Bank home loans review
Macquarie Bank offers a reasonably wide range of home loans for standard borrowers such as owner-occupiers, investors and those looking to refinance their homes.
It also offers a range of specialist loans such as lines of credit, reverse mortgages and SMSF loans. It’s worth noting, however, that it does not offer low doc home loans.
In terms of affordability, Macquarie Bank home loan rates tend to be moderately low for some types of customers and moderately high for others. Likewise, ongoing fees can be very low to high depending on the type of home loan.
While it may not necessarily offer the cheapest home loans on the market, Macquarie Bank nonetheless caters to a range of borrowers, and offers flexibility with home loan options such as offset accounts and redraw facilities on some home loans.
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A fixed rate home loan is a loan where the interest rate is set for a certain amount of time, usually between one and 15 years. The advantage of a fixed rate is that you know exactly how much your repayments will be for the duration of the fixed term. There are some disadvantages to fixing that you need to be aware of. Some products won’t let you make extra repayments, or offer tools such as an offset account to help you reduce your interest, while others will charge a significant break fee if you decide to terminate the loan before the fixed period finishes.
A variable rate home loan is one where the interest rate can and will change over the course of your loan. The rate is determined by your lender, not the Reserve Bank of Australia, so while the cash rate might go down, your bank may decide not to follow suit, although they do broadly follow market conditions. One of the upsides of variable rates is that they are typically more flexible than their fixed rate counterparts which means that a lot of these products will let you make extra repayments and offer features such as offset accounts.
Split rates home loans
A split loan lets you fix a portion of your loan, and leave the remainder on a variable rate so you get a bet each way on fixed and variable rates. A split loan is a good option for someone who wants the peace of mind that regular repayments can provide but still wants to retain some of the additional features variable loans typically provide such as an offset account. Of course, with most things in life, split loans are still a trade-off. If the variable rate goes down, for example, the lower interest rates will only apply to the section that you didn’t fix.