Why you need to do it

It is important to ensure product details are correct at submission to avoid needing to clone or edit an application.

To define whether you need to edit and resubmit, or clone and resubmit, see details below.
 

Pre-formal approval:

You may be required to edit and resubmit an application pre-formal approval in the following scenarios:

  • Changing product details
  • Changing structure 
  • Error identified with applicant’s data.

If any of the above scenarios apply, please follow our Resubmitting applications in ApplyOnline guide.

You may be required to clone and resubmit an application pre-formal approval in the following scenarios: 

  • Application has expired (including pre-approvals) 
  • Application was submitted in error and needs to proceed as a PIA.

A pre-approval application cannot be extended once it expires. You’ll need to clone and resubmit a new application and a new system decision will be generated. Any updated supporting documents need to be linked to the new application. 
 

Post-formal approval:

Edits cannot be made on ApplyOnline post formal approval. Please contact the Broker Support team via email at brokersupport@macquarie.com for the following items to be edited. Loan documents will be re-issued if any edits are made:

  • Error/s in applicant details e.g. name, date of birth, residential address, email, phone number 
  • Error/s in security details e.g. address or ownership structure.

You may be required to clone and resubmit an application post-formal approval in the following scenarios:

  • Changing product details
  • Changing loan structure
  • Changing borrowing structure
  • Application has expired and could not be extended.

How to do it

When the application has not been formally approved, you’ll need to edit to resubmit.

  1. Locate the application you’d like to resubmit. Select Edit to Resubmit
  2. You’ll receive a pop-up box. Enter comments in the Comment field regarding the updates then select Save. You can now edit the application
  3. Once you’ve edited the application, select Submit to submit the application.

Clone and resubmit:

When the application has been formally approved, you’ll need to clone, resubmit the new application and resend supporting documents.

  1. Locate the application and select Clone
  2. Select Other - please detail in Clone Reason
  3. In the Comment field, write the reason for the clone and resubmission and select Create
  4. Make the necessary changes and select Submit
  5. You’ll need to resend the supporting documents as a new application number will be generated.

Impact on client’s credit report

A clone and resubmit will not prompt a new enquiry on your client’s credit report. Once Macquarie checks a client’s credit report for a home loan application, it will store the report for 90 days. A clone and resubmit will pull from the stored report.

Extend application post-formal approval

You may apply for one 90-day extension request along with the signed and completed copy of the Applicant Circumstance Change - Declaration form. If your client needs more time, a new home loan application will be required.

The Applicant Circumstance Declaration form must be signed within 14 days of application expiry date to be deemed valid. Once an application has expired and withdrawn, the application will need to be cloned and resubmitted.

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