Ordering property valuations

We request a valuation to calculate the Loan to Value Ratio (LVR) for your client’s home loan application. Valuations are completed through PropertyHub.

Accredited brokers are provided with a link to register for PropertyHub which will give you access to order valuations with Macquarie. When your access has been approved and set up, you'll receive a confirmation email. You'll then be able to start ordering upfront valuations¹ via PropertyHub. 

For new loan applications submitted to Macquarie, we provide you with this access at no cost. Ordering upfront valuations¹ through PropertyHub will help speed up the time to approval for Macquarie applications.

Our valuations service on PropertyHub is designed to be used only for applications that you place with Macquarie, and we expect this service to be used with accurate data and in good faith. Inappropriate use of PropertyHub may result in your access being suspended.

1. Excludes long form valuations which require an application to complete.

The valuation type is determined by the information input into PropertyHub at the time of ordering.   

Acceptable valuations may include instant types such as contract of sale (COS) and automated valuation model (AVM) where valuations are completed within minutes, as well as desktop (also called EVR), short-form and long-form types where valuation reports are completed by independent panel valuers accredited by Macquarie.

The PropertyHub system will select the fastest possible valuation based on the security, lending purpose and application data you enter. This includes using an accurate ‘estimated market value’ and ‘loan amount’, and only completing the ‘Do any of these apply?’ section where appropriate.

Please note, if you provide any inaccurate information, your valuation will be slowed down.

Requests to change AVM or desktop valuation type to a short-form valuation type will only be considered where there have been recent enhancements or upgrades to property. To request this change, please contact us via live chat in Broker Portal.

Through PropertyHub: You’ll receive an email to let you know that your valuation request has been received and will include your ValEx ID (valuation reference number). You can check the status by visiting the recently ordered section of the PropertyHub dashboard.

To cancel a valuation, navigate to the dashboard, select the subject property from the recently ordered section, select the edit option, and then cancel valuation. 

When ordered by Macquarie: You’ll receive a back channel message letting you know that the valuation has been ordered and will include your ValEx ID (valuation reference number). 

You can check the status online. You’ll be prompted to input information about the valuation, including the valuation reference, your client’s name and how you are related to the valuation before the status will be displayed.

To cancel a valuation, contact us via live chat in Broker Portal with the property address, valuation ID and reason for cancellation.

When a valuation is complete, you can view the following information in the Macquarie Broker Portal:

• Valuation date
• Expiry date
• Valuation amount
• Type of valuation (e.g contract of sale)
• Purchasing price.

The time it takes for a valuation to be added to a file once completed differs based on the status of the application:

• Where the valuation is ordered upfront and completed prior to loan submission, the valuation report is usually added to the file within an hour.
• Where the valuation is ordered or completed after loan submission, the valuation report is usually added to the file within four hours of conditional approval status. 

In some cases, it may take up to 24 hours for the completed valuation to be added to the file.

The valuation completion date must be no older than 90 days at the time of application submission. Macquarie recommends ordering the valuation upfront to avoid unnecessary delays. At settlement the valuation should be no older than 180 days.

A valuation is a standard component of conditional approval. If you’ve already provided us with the valuation but have received a BCM asking for a new one, you don’t need to provide this. Our Broker Support team will be notified of this and will arrange the reordering of the valuation.

In some circumstances the valuation type supplied also isn't supported against the credit parameters of the submission and our team is required to order a new valuation. You will be provided with the new ValEx reference number if this occurs.

If a valuation has already been obtained by Macquarie for the same property, we’re unable to request another valuation be conducted from a certain valuation firm which completed a report for another lender.

You can’t choose the valuer for a valuation but you can request that a specific valuation firm isn’t used. To organise this, please contact us via live chat in Broker Portal including the valuation reference number and reason for the request.

Individual valuation reports are unable to be reassigned from other lenders. A new valuation is required. To proceed with using the same valuer, the firm must be on our panel of valuers in that postcode. Please contact us via live chat in Broker Portal, who will order the valuation, with the following information:

• Security address
• Client name
• Contact name and number for access
• Loan amount
• LVR
• Estimated valuation
• Loan purpose (if purchase, attached COS and if construction attach the building documents)
• Broker name
• Broker email address
• Valuer (attach valuation).