Steps to submit an application

To achieve a fast approval with fewer follow-ups for you and your client, you’ll need to submit an application with accurate data and all the supporting documents. Follow the steps below to deliver a seamless application process for your clients.

Set up our digital tools before you start

We continue to invest in a suite of faster, simple and secure technology enhancements so you can deliver for your clients efficiently, with control and confidence. Before you submit an application, ensure you’ve set up our digital tools.

Broker Portal

Log in to our Broker Portal using your Macquarie ID, password and Macquarie Authenticator app. You’ll also need to register any support staff who assist with managing your applications.

Once logged in, you and your registered support staff can:

  • easily track the status of your inflight and recently settled applications
  • see if any supporting documents are outstanding for each application
  • send additional documents via the portal
  • speak with our team via live chat.

Back Channel Messages

Ensure you're also registered for Macquarie Back Channel Messages (BCMs) in ApplyOnline. We’ll keep you updated on the status of your client’s loan via BCMs throughout the application.

Order a Comprehensive Credit Report

We encourage you to order a comprehensive credit report (CCR) via Access Seeker for each applicant, prior to submitting an application. You can use Access Seeker Credit Report in ApplyOnline to view an Equifax One Score CCR for your client. 

Viewing your client’s CCR prior to submission, can be helpful to:

  • verify their current liabilities
  • understand their repayment history, and
  • assess the strength of their credit profile.

Always ensure you’ve obtained a privacy consent from your client prior to ordering an Access Seeker on any platform. For more information on how to read a CCR, see our Broker Help Centre article.

Share our Important Application Information with your client

Prior to starting your client’s application for a Macquarie home loan, you’re required to explain and share key information to your client about how we handle their information.

To complete this step, you need to:

Share a link to our Important Application Information with each applicant via email, including an:

  1. explanation of how Macquarie handles their information and disclose to credit reporting bodies, such as Equifax (see suggested scripting below), and
  2. within ApplyOnline's Compliance tab, declare that you've shared and explained this information to each client.

To ensure your client has a copy, when the application is submitted, we’ll also send them an email with a link to our Important Application Information webpage. Please note, if you clone an application and resubmit, your client will receive another email.

Suggested scripting for client emails

To ensure you meet your obligations, you can use the following scripting in your emails sent to your client when preparing them for our application process:

Please read Macquarie’s Important Application Information available at: https://www.macquarie.com.au/home-loans/important-application-information.html

This explains how Macquarie handles your information and discloses it to credit reporting bodies, such as Equifax.

Order an upfront valuation through PropertyHub

Waiting on a valuation to be ordered can delay the credit decision on an application. It’s recommended you order the upfront valuation through PropertyHub prior to submitting the application1.

The PropertyHub system will select the fastest possible valuation based on the security, lending purpose and application data you enter. Please ensure you:

  • use an accurate ‘estimated market value’ and ‘loan amount’, and
  • only complete the ‘Do any of these apply?’ section where appropriate for purchase valuation requests.

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

Verify your client’s identity with NextGenID

To verify your client's identity, use our digital ID solution, NextGenID (NGID) in ApplyOnline. NGID is a secure and efficient way to manage the ID process, typically only requiring one document to complete identification verification. 

To prepare your client, we’ve created a guide and video to support them through completing NGID for their Macquarie Broker home loan application. Once they’ve successfully completed their NGID, the NGID report is automatically uploaded to the Supporting Documents.

What if my client can’t use NGID?

If your client is unable to use NGID, the Home Loan Identification Form can be manually completed via completing an in-person interview and providing accompanying certified documents. They’ll generally require a valid passport or Australian driver’s licence along with one to two supporting government-issued identification documents, such as a birth certificate or a Medicare card.

Ensure data collected is accurate

Data quality is one of the main reasons an application decision is delayed. We continue to invest in intuitive technology to support you in entering current and accurate data prior to submission.

Check liabilities via Access Seeker in ApplyOnline

To ensure you’ve included all your client’s liabilities - including lender, current limits and repayments - run an Access Seeker report in ApplyOnline. Once the report has run, you can:

  • seamlessly pre-populate liability data into the application
  • verify application data by comparing liabilities on the credit report
  • ensure you’ve included all key liability information, including, financial institution, credit limit and expiry date
  • note any discrepancies between the credit report and provide additional commentary or documentation (e.g. a financial institution’s letter confirming the recent closure of a credit card).

Validations in ApplyOnline

When reviewing your client’s application in ApplyOnline, you may notice validation messages appear. It’s important to read these messages and either confirm the data entered or make changes to proceed with the application. 

Examples include:

  • Where a security address has been entered in as ‘TBA’ - you’ll be prompted to confirm the actual address (if it isn’t a pre-approval)
  • If the loan purpose and ABS code combination isn’t valid (e.g. an investment ABS code under Owner Occupied loan purpose) - you’ll be prompted to update the data fields to a correct combination.

Common data errors

Taking a moment to check the data prior to submission will ensure your application is assessed as quickly as possible with fewer follow ups. Here are some common errors we see:

  • Client’s details don’t match the ID document, including full legal name and date of birth – Usually this will result in further enquiry from us and may require additional documents. Also see information on name discrepancy management.
  • Client’s mobile number or email address is incorrect – These are critical details to receive and execute loan documents. Using NGID will ensure your client’s mobile number is accurate pre-submission.
  • Incorrect residential and home address – Ensure the application matches the contract of sale or current title. Also take care with unit numbers and street numbers with multiple numbers (e.g. 1/10-12 Bank Street).
  • Postal address is inaccessible – We use the postal address to send out debit and credit cards, usually prior to settlement. You’ll need to check this address is accessible before the loan settles.

In addition to these common data errors, it’s also important to remember to ensure:

  • the correct product, features, rates and credit limit are selected
  • your client’s liabilities have been confirmed by the Access Seeker report, and
  • broker notes are clear and concise and support the application.

Submit supporting documents

You can submit supporting documents via the ‘Supporting Documents’ tab in ApplyOnline. To help you submit, see the Supporting documents checklist.

Once all supporting documents are submitted, our team conducts a pre-credit assessment check to ensure a complete application is submitted before sending it to our Credit team to assess. Ensure all documents are still valid at the time of submission.

If all the required documents are on file, the application will be sent to the Credit team to be assessed, and you’ll receive a BCM confirming this.

Link applications in ApplyOnline

To link multiple applications for your client:

  • select Yes for ‘Is this a multi-part application?’ in the Application tab of ApplyOnline, and

  • include the linked APP/PIA numbers in the Originator Comments section of the Application tab. 

You can also re-use your client’s NGID report. Once they’ve successfully completed NGID on the first application, the report will be available to link to any subsequent applications if it’s still valid.

Apply for pre-approval

A system-assessed pre-approval is triggered when you select Yes for ‘Is this for pre-approval?’ in the Securities tab on ApplyOnline.

Based on the data you’ve entered, a system conditional approval may be generated. In this case, a conditional approval letter will be emailed to you so you can send it to your client.

When you’re ready to proceed with a full credit assessment, it’s important to check the details in the application and use the ‘edit and resubmit’ option to change any discrepancies prior to proceeding to formal approval.

If your application doesn’t meet the criteria for pre-approvals, you’ll receive a BCM advising next steps.

Find more information on how to submit pre-approvals.

View applications in Broker Portal post-settlement

You and your registered support staff can view settled applications up to 60 days after settlement date. After 60 days, loan accounts identified by a BSB starting with 182 will then be displayed in the Existing Loans section of the Broker Portal.

Applications that have been withdrawn, cancelled, declined or duplicated will be visible up to 30 days after the last status update.

Next steps after formal approval

Once you receive formal approval for your client, we’ll start preparing for settlement. To ensure your client experiences a seamless settlement, our step-by-step guides will support you and your client, for:

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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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