A substitution of security request is when you change the security property that secures your home loan, it usually happens when you buy and sell a property at the same time. Once your request is approved, we’ll release your current property security, and replace it with a new one. 

Things to keep in mind before substituting your home loan security: 

  • Settlement of both properties must occur on the same day, and we need to review your request
  • Your home loan account numbers will stay the same after settlement occurs
  • Depending on your situation, the balances and/or limits on your home loan accounts may change. We are not be able to increase your home loan facility limit as part of the substitution of security request 
  • We need to complete a review for the substitute request. Please contact us as soon as possible and allow up to 28 days to complete a full request.

What information do you need for this request?

  • An email outlining instructions of your substituion request (including details of properties)
  • A copy of the full contract of sale for any property being purchased or a copy of the title deed if the property is already owned by you
  • A copy of the front page of the contract of sale for the property being sold (to confirm the sale price)
  • We may also need to complete identification with you in some cases
  • You can email this information to mortgagevariations@macquarie.com or call us on 1800 007 722 8.30am to 5pm Monday to Friday (Sydney time) if you’d like to discuss with us.

 What are the next steps after submitting your request?

  • After we’ve received your request and received all instructions and relevant documents, our credit team will review it
  • When your application has been formally approved, you’ll receive two sets of documents to be completed as part of the substitution of security request:
    • Variation acceptance form
      • If your BSB starts with 182 the form can be electronically signed using DocuSign
      • If your BSB starts with 183 the form will need to be wet signed (print and sign with a pen) and sent via post to our panel solicitor to enable the settlement to be booked.
    • Original mortgage documents to be wet signed (print and sign with a pen) and sent via post to our panel solicitor to enable the settlement to be booked.
  • After formal approval, instructions will be sent to our panel solicitors and the settlement will be arranged with our panel solicitors, including signing of documents. The contact details for our solicitors are included within the formal approval email.
  • Your legal representative will need to contact our panel solicitor to book the settlement for your variation.

Experiencing financial difficulty?

Feedback and complaints

Help and support