How do I apply for financial assistance and what do I need to provide?

Applying online at your convenience is the fastest way to submit your request for financial assistance. Alternatively, you may contact us via live chat on your mobile banking app or Macquarie Online Banking, or you can call us on 02 8550 5686 from 9am to 5pm AEST, Sydney time Monday to Friday.

In most cases, to assess your application we’ll need details about your financial position, including your income, expenses, and liabilities. You’ll also need to provide the reason for your application and confirm that you have a plan to resume your repayments once the assistance period ends.

When providing information on your financial position, remember to:

  • Include your combined income and expenses (if your spouse or partner contributes to household expenses).
  • Ensure you include all income sources after tax, including rental income, overtime, dividends and government benefits.
  • Do not include any loan repayments in general expenses and additional expenses.

Everyone’s situation is different and depending on the nature of your request, you may also be asked to provide additional documentation to support your financial assistance application.

Main reason for financial difficultySupporting document required (no more than 60 day old):
Reduced income, increased cost of living or overcomitted
  • 2x computer generated pay slips OR
  • letter from your employer explaining the reduction in income OR
  • most recent financial year’s ‘Tax Ready’ ATO Income statement OR
  • Centrelink Income statement OR
  • evidence of Centrelink entitlement

For Self-employed income

 

  • Year-to-date Business Activity Statements (BAS) OR
  • Year-to-date management accounts including your Profit and Loss
Unemployment
  • a separation certificate, letter of termination from your employer, or evidence of Centrelink entitlements 
Serious illness or injury
  • a letter from your doctor or specialist outlining your illness and recovery time
  • if injured, a letter from your insurer, compensation documents or work cover documents
Loss of a family member
  • an agent will contact you for any supporting documents required 
Assistance required while you sell your property
  • If sold - front page of contract of sale and any special conditions
  • If not sold - copy of agency agreement and marketing campaign
Unexpected expenses
  • satisfactory evidence of your unexpected expenses or liability
Other reasons
  • an agent will contact you for any supporting documents required

What happens if my application is approved?

If you’re application is approved, we’ll send you a confirmation which will include the details of your assistance arrangement. You’ll enter into the assistance arrangement for the agreed period and, at the end of the assistance period, we will notify you of any changes to your ongoing repayments.

Any direct debit in place on your loan will be paused and the agreed arrangement amount will apply. If you do not have a direct debit in place you will need to adjust your repayment method accordingly to meet the arrangement.

After your financial assistance period, we’ll automatically reactivate your new minimum monthly payments via direct debit. In preparation, you should ensure there are sufficient funds in your bank account.  If you do not have a direct debit set-up you will need to adjust your regular payment method.

What happens if my application is declined or if I’m not happy with the decision?

When assessing your application for financial assistance, we take into consideration your financial position and your ability to resume your contractual repayments at the end of the assistance period.

This may result in us declining your application where we decide that it's not in your best interests to enter into a financial assistance arrangement. In these cases we may recommend alternative options like repayment support while you sell your property, speaking with a financial counsellor or other external support services.

If you're not satisfied with our handling of your matter, you can get in touch with our Client Care team at Macquarie feedback and complaints or with the independent Australian Financial Complaints Authority.

What should I do if my circumstances change during the assistance period?

If your circumstances have changed, please contact us as soon as possible to discuss alternative arrangements. We may be able to withdraw or review your existing arrangement based on your new needs. Please be aware that any changes to your existing arrangements may be subject to re-assessment.

Start a live chat

Log in to Macquarie Online Banking or the Macquarie Mobile Banking app and chat with a consultant in real time, Monday to Friday, 9am to 5pm Sydney time (excluding public holidays).

Experiencing financial difficulty?

Please get in touch as soon as possible so we can work together to find the right solution for you.

Resolve a complaint

Everyone at Macquarie is committed to providing our clients with the highest standard of products and services available. If you have feedback we would like you to tell us about it.