This article only applies to current Macquarie home loan clients with a principal and interest variable rate loan. For more information about an interest only home loan, please visit Your home loan interest.
Here are some ways you may be able to reduce your home loan repayments.
If your home loan interest rate is reduced, generally your repayments will reduce as well.
Request a variable rate review online and we’ll conduct a detailed review of your loan. Please note a rate reduction is not guaranteed.
Have you made extra repayments? You may be able to request a recalculation of your principal and interest repayments. How to do this depends on the type of home loan you have.
Your repayment amount is based on the home loan account’s limit. You can request a permanent limit reduction which will reduce the minimum monthly repayments.
You’ll need to have redraw funds available in your home loan account and any redraw used will no longer be accessible. You’ll need to make an application if you’d like to increase the limit again.
You can arrange the permanent limit reduction by calling us on 1800 007 722.
You can request your principal and interest repayments to be recalculated if you’ve made a lump sum deposit, or you’ve been making extra repayments over a period of time and the repayment hasn’t been 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 call us on 1800 007 722.
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.
