Broker commission payments

The timing of your upfront commission payment depends on the arrangement you have in place with your aggregator. We pay commissions to your aggregator on or around the 15th calendar day of each month for home loans.

Where the loan is being refinanced from a loan with a BSB starting 182 to another loan with a BSB starting with 182 and the new loan has the same security, primary borrower and aggregator:

• upfront commission will be calculated with reference to the net loan balance on the previous loan and the net loan balance of the new loan, and
• new trail commission will be paid on the refinanced loan.

Where the loan is being refinanced from a loan with a BSB starting 183 (or previously 032) to a loan with BSB starting with 182, a new upfront commission and trail will be paid on the refinanced loan.

There may be some instances where you may be expecting a commission payment and don’t receive one. You should first raise this with your aggregator. 

Please refer to your aggregator in the first instance if you have a commission query.

100% clawback applies if the loan is discharged prior to 12 months after settlement.

50% clawback applies if the loan is discharged after 12 months but prior to 18 months after settlement.

An early discharge clawback will apply where the facility is discharged in full.

Upfront commission using the net of offset balance, as at the 9th calendar day after settlement (i.e. the 10th day of the loan).

The net of offset balance is calculated at the loan facility level (the facility limit less funds in any of the offset accounts), and not individual loan splits. For example, a facility limit is $500,000, made up of a fixed split of $200,000 and variable split of $300,000. If the client had offset funds of $250,000, the net of offset calculation will be $500,000 - $250,000 = $250,000.

Upfront commission on construction loans is paid on the full loan limit. 

We automatically review each facility balance at the end of the month after the 12-month anniversary, and pay an additional commission which is equal to the difference between:

• the current facility balance, less any offset account balances; and 
• the facility balance, less any offset account balances used in the upfront calculation, where the amount is greater than or equal to $50,000. 

In accordance with your obligations under the Macquarie Broker Code of Conduct, you must not deliberately attempt to influence a commission outcome. For example, you shouldn’t ask or suggest to your client to put funds in their offset accounts on particular dates to inflate commission calculations.

Please refer to your aggregator in the first instance if you have a commission query.

If you choose to move to a different aggregator, we will continue to pay trail to the aggregator you were with when these loans were settled. Please refer to your initial aggregator for more information.

We are unable to transfer existing loans to a new aggregator or to a new broker. You’re also unable to discount your trail commission for a cheaper rate.