Submitting a home loan application for your customer

Home loan applications are submitted to us via ApplyOnline. Typically, you’ll need to start an application in your aggregator’s customer relationship management (CRM) system, as you work with your customer to choose an appropriate lender.

Once Macquarie is chosen, you’ll need to progress the application from your CRM to ApplyOnline. For more assistance with this step, contact your aggregator’s help desk.

Once the application is in ApplyOnline:

1. Share our Important Application Information with your customer
2. Check the transferred data and complete any additional fields
3. Verify liabilities using Access Seeker
4. Complete ID verification with NextGenID
5. Select the home loan products and any debit or credit cards
6. Upload supporting documents
7. Submit the application.

There are no Macquarie-specific pre-submission forms to be completed by your customer. However, we do require you to:

• discuss and share our Important Application Information
• adequately assess your customer’s requirements and objectives when choosing a Macquarie product
• declare that you’ve completed all key activities outlined by Macquarie.

Our compliance requirements, including our declarations, are outlined on the Compliance tab in ApplyOnline. You can view a list of activities and information you’ll be required to declare for each application on our Help Centre.

Also read the section below, which outlines information you need to discuss and share with your customer with regards to how we hold and manage their data.

We encourage you to order a credit report via Access Seeker for each applicant, prior to submitting an application. You can use Access Seeker Credit Report in ApplyOnline to view an Equifax One Score and pre-fill liabilities information for your customer.

Viewing your customer’s credit report prior to submission, can be helpful to:

• verify their current liabilities
• understand their repayment history, and
• assess the strength of their credit profile.

Always ensure you’ve obtained a privacy consent from your customer prior to ordering an Access Seeker on any platform. See Understanding customer credit checks for more information on how to read a credit report.

Prior to starting your customer’s application for a Macquarie home loan, you’re required to explain and share key information to your customer about how we handle their information.

To complete this step, you need to:

1. Share a link to our Important Application Information with each applicant via email, including an explanation of how Macquarie handles their information and disclose to credit reporting bodies, such as Equifax (see suggested scripting below), and
2. Within ApplyOnline's Compliance tab, declare that you've shared and explained this information to each customer.

To ensure your customer has a copy, when the application is submitted, we’ll also send them an email with a link to our Important Application Information webpage. Please note, if you clone an application and resubmit, your customer will receive another email.

Waiting on a valuation to be ordered can delay the credit decision on an application. It’s recommended you order the upfront valuation through PropertyHub prior to submitting the application¹.

The PropertyHub system will select the fastest possible valuation based on the security, lending purpose and application data you enter. Please ensure you:

• use an accurate ‘estimated market value’ and ‘loan amount’, and
• only complete the ‘Do any of these apply?’ section where appropriate for purchase valuation requests.

1. Excludes long form valuations which require an application to complete

Your customer needs to verify their identity digitally using NextGenID in ApplyOnline. NextGenID is secure and efficient, typically only requiring one photographic identity document to complete verification.

To preapre your customer, share our Help Centre article, Completing digital ID verification for your broker home loan application, which includes a video of how it works.

Once they've successfully completed NextGenID, their report is automatically uploaded to the supporting documents.

Data quality is one of the main reasons an application decision can be delayed, and further follow-up is required. To ensure you've entered current and accurate data, prior to submission you can:

• confirm current liabilities via Access Seeker
• check validations in ApplyOnline.
  

Taking a moment to check the data prior to submission will ensure your application is assessed as quickly as possible. Here are some common errors we see:

• Customer’s application details don’t match the ID document, including full legal name and date of birth – See information on name discrepancy management.
• Customer’s mobile number or email address is incorrect
• Incorrect residential and home address – Ensure the application matches the contract of sale or current title. Also take care with unit numbers and street addresses with multiple numbers (e.g. 1/10-12 Bank Street).
• Postal address is inaccessible before settlement – We use the postal address to send out debit and credit cards, usually prior to settlement.

All supporting documents should be current and submitted via ApplyOnline when you first submit the application.

Use our Supporting documents checklist to ensure you've submitted all required documents.

Once submitted, if all required documents are received, the application will be sent for assessment, and you'll receive a message confirming this.

If our team request further information and documents after submission, you'll need to submit these via Broker Portal.

A system-assessed pre-approval is triggered when you select Yes for ‘Is this for pre-approval?’ in the Securities tab on ApplyOnline.

Based on the data you’ve entered, a system conditional approval may be generated. In this instance, a conditional approval letter will be emailed to you so you can send it to your customer.

View more information on Submitting a pre-approval application.