View current repayment amount and frequency

You and your support staff can view your client’s current repayment amount and frequency through the Macquarie Broker Portal. 

In the Existing loans section, search for your client's loan using their name or account number. 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 see the repayment amount plus information such as loan structure, interest rate, limit, remaining loan term, repayment type and much more.
 

What home loans can you view in Broker Portal?

Only loan accounts with a BSB starting with 182 will be displayed in Broker Portal.

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. 

For loan accounts with a BSB starting with 183, 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.

Change repayment type

Repayment types can be changed post-settlement on any variable rate Basic or Offset Home Loan.

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. The loan must have at least 20 years remaining at the end of the interest only period.
  • 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 will need to get in touch with our team using live chat to require this change. To support them through this process visit our Personal Help Centre for more information.
Additional changes to repayment type:
  • A loan with interest only repayments at settlement can convert to principal and interest repayments and then be converted back to an interest only term again, subject to full credit assessment and approval. The loan must have at least 20 years remaining at the end of the interest only period.
  • You can start this application on behalf of your client with our Variations Team. 

Reduce repayments

For loan accounts with BSB starting 182, 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.

Change repayment frequency

For home loans with a BSB starting with 182:

The repayment frequency on a Basic or Offset Home Loan for direct debits is monthly. If your client would like to make repayments weekly or fortnightly, they can update their repayment method to salary credit/electronic funds transfer (EFT) in Macquarie Online Banking. They’ll need to ensure they’ve transferred enough funds to cover their minimum monthly repayment before their monthly repayment due date.

If your client is wanting to make their repayments via a scheduled transfer from their Macquarie account, see Managing your scheduled payments and direct debits for instructions.

How we determine repayment due date

Your client’s repayment due date will be determined based on the anniversary date of settlement (e.g. if a loan settles on Monday 28 March, the first repayment will be due on 28 April, regardless of whether or not this is a weekend or public holiday). If your client’s settlement date falls on the last day of the month (e.g. your client’s settlement date is 31 October), for months with 30 days or less, than your client’s repayment is always due on the last day of the month regardless of the date.

 

For home loans with a BSB starting with 183:

Fortnightly or monthly repayment options are available and can be updated by your client by contacting us via live chat in Macquarie Online Banking or the Macquarie Mobile Banking app. Changing their repayment frequency may result in a change to the repayment due date.

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Unless stated otherwise, this information is provided by Macquarie Bank Limited AFSL and Australian Credit Licence 237502 (MBL) and does not take into account your objectives, financial situation or needs. You should consider whether it is appropriate for you. Finance is subject to our credit approval criteria. Terms and conditions apply and may change without notice.

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