BREAKING NEWS: RBA holds cash rate at 4.35% in March 2024Learn more
RateCity.com.au
  1. Home
  2. Home Loans
  3. News
  4. Macquarie owner-occ mortgage lending jumps 17.5%

Macquarie owner-occ mortgage lending jumps 17.5%

Nick Bendel avatar
Nick Bendel
- 2 min read
Macquarie owner-occ mortgage lending jumps 17.5%

Macquarie Bank has been growing its owner-occupier home loans business more than twice as fast as the big four banks.

Macquarie had $21.4 billion of owner-occupier mortgages on its books at the end of April, according to statistics released by APRA, Australia’s banking regulator (see table below).

That was 17.5 per cent higher than the year before and 5.0 per cent higher than the quarter before.

By contrast, the big four banks averaged growth of 6.5 per cent over the year and 1.3 per cent over the quarter.

However, the big four still have much larger owner-occupier home loan books than Macquarie.

LenderOutstanding loansQuarterly changeAnnual change
ANZ$176.2 billion1.3%8.9%
Commonwealth Bank$285.0 billion1.2%5.5%
NAB$148.4 billion0.8%6.4%
Westpac$252.7 billion1.7%6.2%
Big four average$215.6 billion1.3%6.5%
Macquarie Bank$21.4 billion5.0%17.5%

Macquarie has two home loan products aimed at owner-occupiers – the Basic Home Loan and Offset Home Loan.

The Basic Home Loan starts at 3.69 per cent (comparison rate 3.69 per cent), while the Offset Home Loan also starts at 3.69 per cent (comparison rate 3.94 per cent).

RateCity.com.au money editor Sally Tindall said Macquarie is differentiating itself from the big four banks by offering lower advertised rates.

“Macquarie is trying to ditch their reputation as a bank for the wealthy, making a concerted play for everyday mum and dad customers,” she said.

“They’ve done this with a simple proposition that’s hard to argue with: low-cost loans. Right now, they’re competing at the pointy end of the rate table among lesser-known lenders using a big-name brand.

“For many customers who are cost-orientated but nervous about smaller lenders, they seem to be ticking all the right boxes.”

Disclaimer

This article is over two years old, last updated on June 12, 2018. While RateCity makes best efforts to update every important article regularly, the information in this piece may not be as relevant as it once was. Alternatively, please consider checking recent home loans articles.

Compare home loans in Australia

Product database updated 19 Mar, 2024

This article was reviewed by Personal Finance Editor Alex Ritchie before it was published as part of RateCity's Fact Check process.

Share this page

LinkedInTwitterFacebookMail

Get updates on the latest financial news and products

By continuing, you agree to the RateCity Privacy Policy, Terms of Use and Disclaimer.

Related home loans articles