How do I apply to switch to or extend an interest only period?

If you’re looking to switch from principal and interest repayments to interest only, or extend an existing interest only period, you’ll need to submit an application for a credit assessment that is subject to approval. 

To get started, please complete the Variation Application form, and send to mortgagevariations@macquarie.com.

It’s important to ensure the following information is accurately completed on your application in the spaces provided:

  • income for all parties on the loan 
  • assets and liabilities 
  • living expenses. 

Why did I receive a Variation Acceptance?

In some instances, you may be required to sign a Variation Acceptance and return it to us before the changes can be made. You’ll receive the Variation Acceptance by email or post after your application is approved.  

When will my repayments change from principal and interest to interest only?

If your application to switch from principal and interest to interest only repayments is approved, we’ll make the changes to your account and send you a confirmation summary (by either email or post) which will include your new repayment details and repayment effective date.  

If you’re required to sign a Variation Acceptance, changes to your account will be made once we’ve received the signed documents from you. 

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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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