Your circumstances may have changed since your home loan settled, so you may be thinking of ways to reduce your home loan repayments. Some of the options you may have include:
If you feel you may not be able to meet your regular repayments, please contact us to see how we can work together towards a solution for you. For more information and support, please see Financial assistance.
For information about reducing repayments for an interest only home loan, see Reducing your home loan interest.
To request a variable rate review, see How do I request a review of my variable rate?
If you’ve made additional repayments to your home loan, you may be able to request a recalculation of your principal and interest repayments.
For home loans with a BSB starting 182, your repayment amount is based on the limit of your home loan account. The only way for your minimum monthly repayments to be recalculated is to reduce your limit permanently.
You’ll need to have funds available in redraw and any redraw used for the limit reduction will no longer be accessible. You’ll need to make an application if you’d like to increase the limit again.
To request the permanent limit reduction, please get in touch with a Macquarie consultant using chat.
For home loans with a BSB starting 183, if you’ve made a lump sum deposit, or you’ve been making regular additional repayments and the repayment hasn’t already been recalculated, you can request your principal and interest repayments to be recalculated.
You can check your transaction history online to see the last time your repayments were recalculated.
To request a recalculation of your repayments, please get in touch with a Macquarie consultant using chat.
It’s important to know that if you ask us to recalculate your repayments or permanently reduce your limit, it’s a one-off adjustment. This means your repayments or limit won't automatically update if you make additional repayments in the future.
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You can contact us anytime via Q in the Macquarie Mobile Banking app or Macquarie Online Banking.
Please get in touch as soon as possible so we can work together to find the right solution for you.
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