You can find our credit information policy and the Macquarie Residential Home Loans Credit guidelines online.
Our policy
High density policy
In general, we’ll lend up to 70% LVR on high density units. Where the unit is to be used for owner occupied purposes and the repayment type is principal and interest, we will consider up to 80% LVR on high density units.
Loans are subject to credit approval including satisfactory valuations with acceptable risk characteristics.
You can use the Macquarie Serviceability calculator to find out if the unit your client is considering is a high density unit.
Luxury policy
Our premium property/luxury policy takes into consideration the loan to the valuation ratio (LVR), property value and property location.
| Location | Property value | Max LVR |
|---|---|---|
| Cat 1 | Up to $5m | 80% |
| Cat 1 | $5m to $10m | 70% |
| Cat 2/3 | Up to $1.5m | 80% |
| Cat 2/3 | $1.5m to $3m | 70% |
| Cat 4 | By exception only | By exception only |
You can use the Macquarie Serviceability calculator to find out the category for the security property's location.
Loans are subject to credit approval including satisfactory valuations with acceptable risk characteristics. The maximum LVRs may be restricted below the above table based on valuation outcome.
For more information, read Security property location and LVR or the Macquarie Residential Home Loans Credit guidelines.
Debt reducer policy
We have a common debt reducer policy for spousal relationships only.
Where an applicant has a joint commitment with a non-applicant spouse (held or to be held either with Macquarie or another financial institution), the joint commitment can usually be apportioned in the servicing calculation, provided it can be verified that the non-applicant spouse can also service the remainder. This means we don’t split the debt 50/50.
Serviceability can be verified by completing an additional combined household servicing calculation with the income and all commitments of the non-applicant spouse also included. Here’s the relevant form.
Refer to our Macquarie residential home loans credit guidelines, section 3F – Commitments – Existing financial obligations for a full list of requirements.
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