Once your client’s principal increase application is formally approved, we’ll keep you and your client updated. These communications will include:
To ensure a smooth process, once you’ve received formal approval, it’s a good time to double check the contact details of each applicant in ApplyOnline.
Please check each applicant’s email address and mobile number to ensure they receive the loan documentation and SMS verification to open the DocuSign.
Generally, within an hour of formal approval, you and your client will receive the loan documents in DocuSign.
They’ll need to review and electronically execute the loan documents in DocuSign. Where there are multiple borrowers, any borrower can sign the documents first.
If a document requires a wet-ink signature (e.g. original signed documents like guarantor documents or independent legal/financial advice), it’ll be specified in the loan documentation pack. This pack will also contain the address (GPO box) for these documents to be sent to.
When your client has signed all loan documents in DocuSign, a confirmation email will be sent to both you and your client with instructions to download the completed loan pack. A download of the completed loan document pack is only available for 90 days post signing.
Our Settlements team will receive a notification of the completed DocuSign envelope and review the completed loan pack. They’ll also:
Post review, our Settlements team will advise you via email if there are any outstanding requirements. The application won’t be able to progress to settlement until all requirements are met.
To be ready for settlement, you’ll need to ensure all settlement conditions and any funds to complete arrangements are in place.
As part of the formal approval notification, we’ll inform you of any settlement conditions that need to be met prior to a settlement date being set.
Supporting documents for settlement conditions must be emailed to our Settlements team at mmsettlements@macquarie.com. When emailing, include the reference number in the subject line (e.g. PIA-1234).
Your client needs to provide their Certificate of Currency (COC) for their general insurance policy, noting Macquarie Bank Limited as the first interested party. Their policy must be current at the date of settlement. This is not applicable to strata properties.
A debt consolidation settlement condition requires another debt facility (e.g. credit card, HECS, personal or home loan) to be paid out as part of the settlement.
To alter or waive a settlement condition, you’ll need to contact our Settlements team. They’ll organise for this request to be reviewed by our Credit team.
When all settlement requirements have been met, our Settlements team will process the home loan increase. They’ll also:
To ensure you and your client are informed of the successful settlement, we'll send:
Once settlement has been successfully completed, it’s important to ensure your client is aware of the changes to their repayments. The Variation Confirmation will outline all changes to the repayment amounts and when they become effective.
Your client will need to be aware of the following:
If your client manually pays their home loan repayments, it’s important to remind them to update their scheduled repayments to reflect the increased repayment amount. Our Personal Help Centre provides guidance for your client on managing repayments, including changing frequency of repayments using other repayment methods.
Once the loan has settled, our Broker Portal will show the facility and account structure. To support your client, you or your support staff can use Broker Portal to check:
Please note, your client provides their consent in their loan documentation for you to be able to access their loan details. They can revoke their consent at any time after settlement.
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