The below section provides a summary of fees that may apply to either the Basic Home Loan or Offset Home Loan at settlement. Including:
- What fees may apply at settlement?
- What fees may apply during the home loan term?
- How are fees charged?
- What is the annual package fee?
- Does Macquarie charge a rate lock fee?
- What fees apply to varying or changing the home loan after settlement?
- What credit card fees are payable for home loan customers?
- What ATM withdrawal fees apply to my customer?
What fees may apply at settlement?
Fees charged by Macquarie
The fees noted below are applicable to newly settled home loans and apply to both the Offset Home Loan and Basic Home Loan.
Fee name | Amount or method of calculation | When payable |
Documentation fee | $350 | Payable to Macquarie in relation to preparing your loan documents and arranging settlement. |
Construction administration fee | $1,500 | A one-off fee payable at settlement which covers valuation costs and progress payments during the construction period. |
Low Deposit Fee | At cost | Applicable for loans with an LVR>80%, where a one-off amount is payable by the borrower. For an estimation, use our Low Deposit Fee Calculator. |
Discharge fee | $400 | Payable if you request a full discharge or any Mortgage, in addition to any third party fees. |
Fees that Macquarie don’t charge your customer
There are no fees for:
- Valuations – our valuations are free when ordered via your login on PropertyHub.
- Rate lock – there are no rate lock fees for Macquarie interest rates. Our Broker Help Centre outlines additional information on when fixed interest rates are confirmed in the application process.
Fees charged by third parties
The below fees may be charged by third parties at settlement and may be payable by your customer.
Fee name | Amount or method of calculation | When payable |
Mortgage Registration, transfer fees and stamp duty | At cost | For an estimation of these fees, view our Stamp Duty Calculator. |
In some instances, a special attendance and third party settlement fees may also be charged. These would also be ‘at cost’.
What fees may apply during the home loan term?
The below table provides a summary of fees that may apply to either the Basic Home Loan or Offset Home Loan during the home loan term. These apply to newly settled home loans and may be different depending on when the loan settled.
The fees noted, are applicable to home loans with a BSB starting with 182.
Fee name | Amount or method of calculation | When payable | Offset Home Loan | Basic Home Loan |
Offset Home Loan Facility fee* | $248 | $124 charged every 6 months in arrears based on the loan Settlement Date. | Yes | No |
Break cost | At cost | Break costs may be payable when a fixed rate period ends early. Find more information on our Help Centre article. | Yes | Yes |
Enforcement expenses | At cost | Costs incurred by Macquarie during collections activity. These costs are passed on at discharge. | Yes | Yes |
Third party fees (e.g. Mortgage Registration, transfer fees) | At cost | May be incurred for some types of variations e.g. substitute of security. Refer to your customer’s solicitor for further information. | Yes | Yes |
*This Offset Home Loan Facility fee amount applies to new home loans. The Offset Home Loan Facility fee amounts may vary depending on when the home loan settled.
Fees we don’t charge during the loan term
For both our Offset Home Loan and Basic Home Loan products, we don’t charge the fees outlined below.
Fee name | Amount or method of calculation | When payable |
Redraw | Not applicable | There are no fees to redraw funds from a home loan account. |
Variation fees | Not applicable | Variations requested throughout the loan term don’t attract a fee. For example, creating new splits, interest only conversion and principal increases. This doesn’t include any third party fees. |
How are fees charged?
Your customer is required to set up a direct debit for fees and charges and nominate an account. This is an additional direct debit to the minimum monthly repayment direct debit.
- Prior to settlement, they’ll receive the Home Loan Repayment Election form to nominate an account, or
- after settlement, they can log into Macquarie Online Banking or the Macquarie Mobile Banking app and update their direct debit details.
Fees are charged to the home loan account when they become payable. On the same day, the customers nominated transaction or offset account is direct debited to replenish the home loan. As a result, fees are typically not capitalised to the loan.
What is the annual package fee?
For new home loans, the Offset Home Loan Facility annual fee is $248, charged as $124 every 6 months in arrears from the Settlement Date.
For existing customers, the Offset Home Loan Facility annual fee may be different, depending on when the loan settled.
Generally, we won’t waive package fees unless your customer has settled multiple applications within a 6 month period.
Does Macquarie charge a rate lock fee?
Macquarie doesn’t charge a rate lock fee. See Understanding fixed interest rates and the home loan application, which outlines when our interest rates are confirmed in the application process.
What fees apply to varying or changing the home loan after settlement?
There are no variation fees associated with making the below changes to the home loan after settlement.
- Switching between Basic Home Loan and Offset Home Loan
- Switching between variable and fixed rates
- Opening, moving or closing an offset account
- Switching between interest only and principal and interest repayments
- Processing balance limit transfers
- Processing a limit only transfer
- Processing a permanent limit reduction.
Also note:
- there may be fees charged by third parties when making security variations,
- break costs will apply for any variation that occurs on a fixed rate home loan account, and
- these variations are only available for home loans with a BSB starting with 182.
What credit card fees are payable for home loan customers?
For more information on our credit card offerings, including fees charged, view our website. Our Personal Help Centre also has information about our credit cards, including where your customer can view their interest rate and fees charged on Macquarie Online Banking and the Macquarie Mobile Banking app.
For Offset Home Loan Facility customers, the annual fee may be eligible to be waived.
What ATM withdrawal fees apply to my customer?
We don’t charge fees on our Transaction and Offset accounts and will provide a refund on fees incurred at all ATMs in Australia. We also don’t charge fees to use ATMs overseas, however customers may be charged a fee by international ATM operators.
See Transaction accounts for more information.
Related articles
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Supporting your customer with our digital banking tools -
Understanding our home loan fees -
Understanding our offset accounts
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