How can my customer open or split a home loan account?

Your customer can open a new home loan account by splitting an existing home loan account into multiple accounts. For example, if your customer has a home loan account with a $300,000 limit, this account could be split into two home loan accounts with limits of $200,000 and $100,000.

This may be useful when considering fixing a portion of a home loan or converting to an interest only period.

Your customer can complete this by contacting us via chat.

Note, if the original home loan account is fixed, changes may incur a break cost, and this variation is only available for home loans with a BSB starting with 182.

New home loan accounts and offset accounts

When opening new home loan accounts, ensure your customer also checks which account their offset is linked to and ensure the balances are still offsetting the correct home loan.

Once our team have created the new home loan account, ensure your customer checks their home loan structure in Macquarie Online Banking or the Macquarie Mobile Banking app to confirm:

  • offset accounts are linked to the correct home loan account
  • balances of the linked offset accounts don’t exceed the home loan accounts balance (to ensure they’re maximising their offset benefit)
  • they've opened and linked new offset accounts, if required.

How can my customer open an additional home loan account with additional lending?

See Submitting a principal increase or top-up application on how to submit a request for additional lending in a new home loan account within an existing home loan facility. These applications are subject to credit approval.

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