How do I break my fixed rate home loan?

Before you make changes to, or ‘break’ your fixed rate home loan, it’s important to understand you may incur a large break cost by doing so. 

To get an estimate of your break costs, or if you want to break your fixed rate loan, please get in touch with a Macquarie consultant using live chat. 

When do break costs apply?

A break cost covers our loss when you break your fixed rate term including, but not limited to making the following changes:

  • Making additional payments more than the annual additional payment amount allowed
  • Repaying your account balance in full
  • Changing to a variable interest rate or a new fixed interest rate
  • Changing your repayment type (e.g. moving to interest only)
  • Borrowing more money on an existing fixed rate home loan account
  • Discharging your home loan.

How are break costs calculated?

Fixed rate break costs are determined by multiple factors and as a result they change from day to day. These factors can include:

  • The length of time remaining until your fixed rate expires
  • The amount you are paying off your fixed amount
  • The amount that interest rates have moved since the start of your fixed term.

To obtain a break cost estimate, please get in touch with a Macquarie consultant using live chat.

What is my fixed rate expiry date?

For home loans with a BSB starting 182, you can view your fixed rate expiry date in Macquarie Online Banking:

  1. Hover over your home loan account in the account list
  2. Select I want to
  3. Select View account breakdown in the menu drop-down
  4. The fixed rate expiry date is displayed on the middle section of the account breakdown.

For home loans with a BSB starting 183, please refer to your fixed rate confirmation letter.

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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).

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