Check and change loan repayment for your client

You and your support staff can view your client’s current repayment amount and frequency through the Macquarie Broker Portal. You’ll need to search using their name or account number, through the Existing loans section.

The results will show a preview panel with more information about that loan. To get a more comprehensive view, you can select the View Facility button.

On the Facility page, you’ll then be able to view the repayment amount plus information such as loan structure, interest rate, limit, remaining loan term, repayment type and much more.

Please note that only loan accounts identified by a BSB starting with 182 will be displayed.

For loan accounts with a BSB beginning with 183 (or previously 032), your client can view their loan accounts in their Macquarie Online Banking. For more information, see our Personal Help Centre article on viewing your home loan structure and information.

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. 

Repayment types can be changed post-settlement on any variable basic home loan and offset home loan package.

Changing repayment types during a fixed rate period may result in a break cost being charged to your client.
 

Principal and interest to interest only:

• A loan that was originally established with principal and interest repayments may be converted to interest only repayments for a maximum of 5 years, subject to a credit assessment and approval.
• You can start this application on behalf of your client with our Variations Team.

Interest only to principal and interest:

• A variable loan can be converted from interest only to principal and interest repayments at any time. No credit assessment or approval is required. 
• Your client needs to call us to request this change. To support them through this process visit our Personal Help Centre for more information.

Additional changes to repayment type:

• An interest only loan at settlement can convert to principal and interest and then be converted back to an interest only term again, subject to full credit assessment and approval. The new interest only term must finish within the first 10 years of the loan.

To lower your client’s repayments, there are some options which may be available to your client.

Permanent limit reduction

If your client has funds available in redraw, your client can request a permanent limit reduction. This will reduce the minimum monthly repayments for the remaining term.

Example: The loan limit is $500,000, the balance is $400,000 with $100,000 in redraw and minimum monthly repayments of $2,000. Your client may be eligible to reduce the limit to $400,000 (using the funds available in redraw) to permanently reduce their limit. As a result, the minimum monthly repayment is reduced to $1,700 for the remaining loan term. (All figures are approximate and provided by way of example only.)

A permanent limit reduction is non-reversible and the redraw funds will no longer be accessible.

To arrange a permanent limit reduction for your client, we’ll need to speak to your client so that they can verbally accept the changes.