Announcing and managing interest rate changes for existing home loan customers

Macquarie may change variable home loan reference rates from time to time, taking into account different factors including RBA cash rate changes. When home loan reference rates change, your existing home loan customer’s interest rate and repayment amount will typically change as a result.

The impact of an interest rate change on your customer’s home loan application will depend on the type of application, and what interest rate is changing.

For more information, see Understanding our interest rates for home loan applications.

Changes will be announced on our Personal Help Centre once Macquarie has decided on a change to the variable reference rates. Your customer may also receive a notification via their Macquarie Online Banking and Macquarie Mobile Banking app. With the rate change communication, we’ll also announce the effective date of the changes.

Shortly after the interest rate change’s effective date, we’ll typically send correspondence (either by email or letter depending on your customer’s e-consent preference) letting customers know their new interest rate, confirm their repayment amount and when it will be effective from.

For principal and interest home loans, typically the first repayment that falls within 30 days of the effective date of the interest rate change will remain the same, and the repayment change will take effect for the following monthly repayment.

Interest is calculated daily based on the interest rate and balance. As such, for interest only home loan accounts, there will be an immediate effect on your customer’s next interest repayment from the interest rate change effective date outlined in our communications.

You can view your customer’s current repayment amount and interest rate through the Macquarie Broker Portal. After a rate change, you can check your customer’s:

• updated interest rate from the day after the effective date, and
• updated repayment amount once the repayment amount is effective – for principal and interest repayments this may be after the next monthly repayment that is due.

To view your customer’s interest rate and repayment amount:

1. Log into Broker Portal
2. Select Existing loans from the side panel
3. Search for your customer using their name or account number
4. A side panel will appear with a summary of your customer’s home loan facility
5. Click View Facility to see the comprehensive view of their home loan facility
6. Interest rate and repayment amount will be listed under each home loan account.

For accounts with a BSB starting with 183 your customer can view their loan accounts using the instructions in Viewing your home loan structure.