We request a valuation to calculate the Loan to Value Ratio (LVR) for your customer's home loan application. Valuations are completed through PropertyHub.
Accredited brokers are provided with a link to register for PropertyHub. Once registered, you'll be able to start ordering upfront valuations1 via PropertyHub.
1. Excludes long form valuations which require an application to complete.
For new loan applications submitted to Macquarie, we provide you with this access at no cost. Ordering upfront valuations1 through PropertyHub will help speed up the time to approval for Macquarie applications.
Our valuations service on PropertyHub is designed to be used only for applications that you place with Macquarie, and we expect this service to be used with accurate data and in good faith. Inappropriate use of PropertyHub may result in your access being suspended.
1. Excludes long form valuations which require an application to complete.
The valuation type is determined by the information input into PropertyHub at the time of ordering.
Acceptable valuation types can include:
The PropertyHub system will select the valuation based on the security, lending purpose and application data you enter. This includes using an accurate ‘estimated market value’ and ‘loan amount’, and only completing the ‘Do any of these apply?’ section where appropriate for purchase valuation requests.
Please note, if you provide any inaccurate information, your valuation will be slowed down.
| Types of valuations | Description |
|---|---|
| Contract of sale (COS) valuation | A contract of sale (COS) valuation uses the purchase price as a market-negotiated property transaction between an independent buyer and seller. Information provided in the valuation report includes the property address and purchase price amount. The valuation amount is the purchase price and evidenced by the contract of sale. |
| Desktop or estimated valuation report (EVR) valuation | A desktop or estimate valuation report (EVR) valuation is conducted by a licensed valuer knowledgeable in the local area, assessing the value by considering photos and data including but not limited to comparable sales of similar properties. The property doesn't get inspected. |
| Short-form valuation | Short-form valuation is conducted by a licensed valuer physically inspecting a property and assessing the value. |
| Long-form valuation | A long-form valuation is conducted by a licensed valuer knowledgeable in a particular area and/or property type, physically inspecting a property and assessing the value. This valuation is used for more complex, unique, or high value properties and can only be requested for inflight applications. |
Depending on the type of valuation ordered, the time to complete a valuation will vary. Typically, the time frame to complete a:
How you can check or cancel a valuation will depend on how it was ordered through:
Once you’ve ordered the valuation through PropertyHub, you’ll receive an email to let you know that your valuation request has been received and will include your ValEx ID (valuation reference number). You can check the status by visiting the recently ordered section of the PropertyHub dashboard.
To cancel a valuation that you ordered in PropertyHub, navigate to the property within the 'My Orders' section of the PropertyHub dashboard. Select the Edit option, and then Cancel valuation.
If our team ordered the valuation, you’ll receive a back channel message letting you know that the valuation has been ordered and will include your ValEx ID (valuation reference number).
To cancel a valuation that our team ordered on your behalf, contact us via chat in Broker Portal with the property address, valuation ID and reason for cancellation.
The time it takes for a valuation to be added to a file once completed differs based on the status of the application:
In some cases, it may take up to 24 hours for the completed valuation to be added to the file.
When a valuation is complete, you can view the following information in the Macquarie Broker Portal:
The valuation completion date must be no older than:
If the valuation will exceed 180 days at settlement, our team will contact you and we may be required to order a new valuation.
You can’t choose the valuer for a valuation but you can request that a specific valuation firm isn’t used.
To organise this, please contact us via chat in Broker Portal including the valuation reference number and reason for the request.
Individual valuation reports are unable to be reassigned from other lenders. A new valuation is required. You may be able to request the same valuer who completed the previous report for the other lender, however the firm must be on our panel of valuers in that postcode. Please contact us via chat in Broker Portal, who will order the valuation, with the following information:
A request for an additional valuation may be added as a condition of approval. You’ll be sent a back channel message requesting a new valuation, however our team will manage this request for you. You don’t need to provide a new valuation.
We may also request an additional valuation if the valuation type previously provided isn't supported against the credit parameters of the submission. Once our team orders the additional valuation, you’ll be provided with the new ValEx reference number. If this occurs you can also check the status of the valuation online.
If there is an error in a completed valuation, lodge your non-value query through PropertyHub:
If you’ve received an AVM valuation and believe it doesn’t reflect all the relevant property attributes for your customer, this can be raised in PropertyHub by navigating to the ’My Orders’ section of the dashboard and selecting ‘Escalation’ on the AVM order.
Once all request details are completed, PropertyHub will select an alternative valuation and create the order.
Please note, if another valuation is ordered, the outcome is final (regardless if it is higher or lower than the AVM).
We expect this service to be used with accurate data and in good faith. Providing inaccurate information can slow down your valuation.
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