Submit a home loan application for your client

You’ll need to submit a quality application to get the fastest credit decision with Macquarie. We’ll guide you through the step-by-step application and settlement process.

Follow these steps when submitting a Macquarie home loan application.

Order a comprehensive credit report for all applicants to make a balanced assessment of your client's credit history. Credit reports are ordered through Equifax. See how to order a CCR and information about credit checks. You need to obtain a privacy consent from your client and order a CCR via your Macquarie access to Equifax.

If there is sufficient information in the application and credit report, your client may not be required to provide statements as a supporting document for a home loan, even on a refinance application.

The CCR will enable you to make a more balanced assessment by looking at both the positive and negative credit history of your client, and this is what Macquarie uses to assess your client’s credit history instead of statements.

Waiting on a valuation to be ordered can delay the credit decision on an application. To get the fastest credit decision, it’s recommended the upfront valuation be ordered 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. This includes using an accurate ‘estimated market value’ and ‘loan amount’, and only completing the ‘Do any of these apply?’ section where appropriate.

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

Ensure that you're registered for Macquarie Back Channel Messages (BCMs) and log into the Macquarie Broker Portal to keep track of your client’s application.

BCMs provide up-to-date statuses of your client’s loan, and this is how we communicate with you throughout an application. We also uses BCMs to request additional information if needed to help with the loan assessment and to notify you of key milestones such as formal approval.

You can opt to receive your BCMs via email, SMS or both. To receive BCMs, you’ll first need to activate the service on ApplyOnline.

You and your support staff can also easily track the status of your inflight and recently settled applications through the Macquarie Broker Portal. All you need is your Macquarie ID and password to log in and start using the portal today. You’ll also need to register your support staff to provide them with access to your clients’ applications.

To get the fastest approval, ensure the application details in ApplyOnline match your client’s primary identity documents (i.e. driver’s licence or passport). As part of the application, we also require your client’s full legal name. This means if they have any middle names they will need to be included. This data is used to match against the identity documents we receive.

To verify your client's identity, use our digital ID solution, NextGenID in ApplyOnline. NextGenID (NGID) is a secure and efficient way to manage the ID process. Once you have set up the application, let your client know that you are about to send the NGID request to them. They'll then receive an SMS with a link to complete the process.

Typically, it takes under 10 minutes to complete. Once they’ve successfully completed their NGID, the NGID report is automatically uploaded to the Supporting Documents and the identification document fields in the ‘Applicant’ tab are updated.

If your client is unable to complete their VOI digitally, the Home Loan Identification Form can be manually completed via an in-person interview and providing accompanying certified documents.
 

Acceptable documents for Verification of identification

When using NGID, the process will guide your client through what documents to provide to satisfy the verification requirements. This will initially include their physical driver’s licence, passport and potentially their Medicare card. If further documentation is required to satisfy verification of identity (VOI), they will be prompted to provide.

When using the Macquarie Home Loans Identification Form, you’ll need to ensure the identification you provide for the applicant meets one of the five accepted verification of identification categories. For most categories, a valid passport or Australian driver’s licence is required along with one to two supporting government-issued identification documents such as a birth certificate or a Medicare card.

When submitting an application with Macquarie, it’s important to ensure the application data matches the supporting documents submitted. Data quality is one of the main reasons an application decision is delayed.  

Once an application has been conditionally approved you will receive a Conditional Approval Record. At this point it is important to check that the client details are 100% accurate because once the application is formally approved, you are not able to edit these details. If an application is formally approved, you can no longer make changes to the application and will have to clone and resubmit the application for any changes.  

Things to remember when submitting an application for a Macquarie Home Loan:  

• client details match the supporting documents you submit. This includes the client’s full legal name as shown on their Australian passport, date of birth, email address, phone number and address details. If the email address and/or mobile number is incorrect for an applicant, they will not be able to receive their loan offer documents  
• the correct product, features and rates are selected 
• broker notes are clear and concise and support the application.  

Ensure that any income declared is supported by up-to-date documents.  

You can submit supporting documents via the Supporting Documents tab in ApplyOnline.  To help you submit, see the Supporting documents checklist and info about uploading supporting documents.   

Once all supporting documents are submitted, our team conducts a pre-credit assessment check to ensure a complete application is submitted before sending it to our credit team to assess.  

If all the required documents are on file, the application will be sent to the Credit team to be assessed, and you will also receive a Back Channel Message letting you know the application has been sent to the Credit team. 

Our home loans process is a digital end-to-end experience. As part of this experience, our Loan Documents are issued via DocuSign through our Panel Solicitors.  

 DocuSign will require a two-factor authentication, meaning your clients will receive an email with a link to the loan documents. The link will then ask them to generate a SMS code to access the documents. It is important through the application process that you input the clients correct email address and phone number so that they can receive their loan documents.  

You will receive a read-only version of the loan documents for your reference.   

If you have any inquiries regarding the loan documents or settlement date, contact our acting Panel Solicitor. The allocation of acting solicitor is determined by the state of the security property(s) and should be (subject to change):  

• LegalStream: New South Wales  
• MSA: Victoria, Tasmania, Queensland, Western Australia, South Australia, Northern Territory and Australian Capital Territory   

This information regarding the instructed solicitor will also be issued to you via BCM once the application has been formally approved. 

To ensure the home loan is ready to be settled, you can:  

• Upload insurance details noting Macquarie Bank Limited as the interested party when completing the loan documents
• Ensure any special conditions such as evidence of debts to be paid out or limits reduced prior to settlement are provided.  

In addition, you can follow up the client’s solicitors to ensure the transfer of land is completed for any purchases.  

Once the home loan is settled, the client will receive a SMS advising them the home loan has settled, and an email with the settlement record.   

Post settlement, Macquarie will link the client’s offset accounts, if requested in the application, to their Macquarie Home Loan.  

 For more information on what happens after formal approval of your client’s loan application, see our guides on:

• purchase and refinance application approval to settlement process
• principal increase application approval to settlement process.

Before submitting via ApplyOnline make sure the product information is correct e.g. offset, IO periods are correct. Once a file is formally approved, a clone and resubmission will be required for any changes 

A system-assessed pre-approval is triggered when you tick the Pre-approval box under the Security tab on ApplyOnline.  
  
Based on the data you have entered, a system conditional approval may be generated. In this case, a conditional approval letter will be emailed to you so you can send it to your client. If your application does not meet the criteria for pre-approvals, a back channel message will be sent to you advising of the next steps.