Home loans

The refinance process for each lender may be different. To refinance to a Macquarie home loan, you can apply online or speak to one of our specialists. For more information on the process, visit our help centre.

Having multiple offset accounts can help you to bucket your savings. This can help you manage your budget if you're saving for a few big things (like another property, a holiday, a wedding or a new car).

Having multiple offset accounts linked to your home loan ensures that all of your savings are working towards reducing the interest paid on your home loan.

It is important to note that if your offset account balance exceeds your home loan account balance, you won’t be paid interest on the excess amount. This excess amount also is not offsetting any interest payable on your home loan account.

To help you complete your home loan application, make sure you have the following information on hand:

• documents relating to your income, including payslips or income statements
• your existing home loan statements and contract, if refinancing
• details of any debts you currently hold, including balances, limits and monthly repayments
• access to your transaction history – this will help you determine your monthly living expenses such as groceries, utilities and insurances.
• current email address and mobile phone number so you can safely use your account online and in the Macquarie Mobile Banking app
• identity documents - some documents may need to be certified
• details of the type of home loan facility you’d like to apply for and how you’d like to tailor it. Visit Choosing which home loan is right for you.

You can start your application now, save your progress, and come back to it later if you need more time or additional information

The rates shown in the application are accurate based on the information provided and as at the time of applying. All rates are subject to approval and may vary depending on a formal valuation of your property or other rate changes announced during the application process.  

Redraw is a product feature which typically allows you to access some or all of the additional repayments that you’ve made on your home loan over and above the minimum required repayments. 

Redraw is a product feature enabled on most home loan products except for:

• accounts during a fixed rate period. Any extra payments you’ve made whilst your interest rate is fixed is only available at the end of your fixed rate period
  
• SMSF home loans.

Your redraw balance may change over time depending on several factors, including:

• loan limit changes
• repayment amount changes
• missed or late repayments and fees.

The below is an example explaining how redraw works where an extra payment has been made and the repayment amount has not changed on the home loan.

Sarah has a $300,000 home loan with a 30-year term. 10 years into her loan she makes an extra payment of $50,000. Her repayment amount does not change and the extra payment she’s made means she is paying less interest on her home loan. This results in Sarah paying off her home loan sooner. Because Sarah has maintained her repayments at the same amount, she can access her redraw balance up until her loan is paid off. If she continues to keep her loan open after it’s paid off, then the available redraw will start reducing to ensure her home loan limit is $0 at the end of her loan term.

For more information on how to check your redraw balance or accessing it on Macquarie Online Banking, visit Macquarie Help Centre.

We offer two home loan products: the basic home loan facility, and the offset home loan facility. With Macquarie, you can use one or multiple properties as security for your home loan, with a single loan balance limit. We call this a facility structure.

For example, if you have an owner occupied property as well as an investment property, you only need to open one facility, instead of two. This means you’ll avoid paying multiple sets of fees and gives you greater flexibility to tailor your loan set up.

We want to ensure your home loan is set up in a way that works for you and that’s why we’ve designed this step-by-step guide so you can feel confident understanding how Macquarie Home Loans work and what features are right for you.