Support for home loans customers

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Support for home loans customers

If you have a Macquarie home loan and are in need of financial support due to COVID-19, we encourage you to call us at 1300 363 330. Our financial assistance team will be available to discuss your specific circumstances and take you through the options we have available to support you.

If you’re currently on a payment pause, the information below will help you understand what this means for you.

Impact on your home loan

If you’re currently on a payment pause, you haven’t had to make any repayments on your home loan during this period, however interest is accruing on your loan. This means the interest you would have paid during your payment pause has continued to accrue and will be added to your home loan balance. At the end of your payment pause, your repayments will be recalculated to adjust for the increased outstanding balance on your home loan.

As an example, if you have a $400,000 balance on your home loan at 3.50%p.a. and 20 years remaining on your loan term at the start of your payment pause, you would accrue $7,052 in interest at the end of a six-month payment pause.

This would increase your monthly principal and interest home loan repayments by $83 per month over your remaining loan term, following the payment pause period.

This is an example only and the actual cost to you will depend on your own individual circumstances.

Staying connected

Find answers instantly to a huge range of your questions online by visiting our Help Centre.

If you need to discuss how we can provide ongoing support, you can also contact us using the direct number listed below.

Home loans – 1300 363 330

During your payment pause

You’ll know your payment pause request has been processed as we’ll be in touch with you every step of the way. We’ll contact you to confirm your payment pause has been approved and then regularly throughout your payment pause period. 

No, you aren’t required to make any repayments during the six-month deferral period, but you are welcome to do so. Any payments you make can help to reduce the amount that you have to pay when your payment pause ends.

Yes. You can still make payments however you’ll need to make them manually by electronic funds transfer or by direct debit payments which can be set up by calling us on 1800 007 722 (+61 2 8245 4383), 8am to 7pm (AEST/ADST) Monday to Friday.
Yes, you can cancel at any time. You can do so by responding via the payment pause check-in email we’ve sent to all clients on a payment pause, or by calling us.

If you’re currently on a payment pause, we’ll be checking in with you to ensure you have all the information you need regarding your payment pause, and to get a better understanding of your ongoing circumstances.

Your payment pause cancellation will take up to 30 days to process. We will let you know once this has been completed and send you confirmation of what this means for your loan. 

After your payment pause

Yes. We’ll be checking in with you regularly to ensure you have all the information you need regarding your payment pause, and to get a better understanding of your ongoing circumstances. We will let you know when your payments are due to recommence and the impacts to your loan repayments as a result of your payment pause.

Your minimum monthly payments may increase following the end of the payment pause. We’ll let you know of any changes to your repayments. There is an example of the way that payment pause may impact your home loan and you can view this here.

We’ll email you to let you know when your repayments will recommence and when any increased repayment amount will start. You may be required to make your standard repayments between the time you are first due to recommence payments up until the date your increased repayment is effective.

If we were direct debiting your repayments before the payment pause, we will reactivate this direct debit and adjust for any new repayment amounts and there will be no action required by you. In preparation to resume your repayments by the relevant payment date, you should ensure there are sufficient funds in your bank account. If you were making your repayments by funds transfer, you will need to take action to make the necessary changes to your repayment amounts to meet the new requirements.

If you require further assistance once the six-month period is over, please contact us so we can discuss your ongoing situation.

There are limited circumstances in which we will offer an extension on the initial payment pause period and we will only be able to make that decision once your financial circumstances have been assessed.

If you are seeking an extension you will need to provide us with detailed information to support this assessment, which depending on your circumstances may include:

  1. a comprehensive overview of your financial position and that of your household, including your income, expenses, assets and liabilities
  2. demonstrating that you cannot make repayments in the short term
  3. showing confidence in resuming repayments at the end of the extension period.

Please contact us one month before the end of your payment pause to discuss whether you are eligible for a payment pause extension.

To help you save time and prepare for this discussion, please complete the Extended Support Request form and email it to Our financial assistance team can then discuss your specific circumstances and take you through the options we have available to you.