Macquarie offers a Basic Home Loan with no ongoing fees and an Offset Home Loan with up to 10 offsets per loan. Its sharpest variable rate is for principal and interest loans of up to 60% of the property value, so it often suits refinancers and buyers with large deposits. It is not a 5% Deposit Scheme lender.

Macquarie home loans at a glance
Feature Detail
Basic Home Loan No ongoing fees; variable, fixed or split
Offset Home Loan Up to 10 offset accounts per variable loan account (up to 4 requested at application)
Company and trust borrowers Up to 4 offset accounts, opened at application
Redraw Available on most products, except during a fixed rate period and on SMSF loans
Best variable rate Principal and interest, borrowing up to 60% of the value

Why does the deposit size matter so much at Macquarie?

Macquarie prices in loan-to-value bands and sets its lowest variable rate for loans of 60% or less. An owner with plenty of equity, or a buyer with a 40% deposit, sees the most benefit. At 80% or above, compare closely with other lenders. On $600,000, every 0.25 percentage points is about $97 a month at these rates.

How do Macquarie’s offset accounts work?

Each offset account reduces the balance interest is charged on, and several can be linked to one loan, so savings for tax, school fees or a holiday can sit in separate accounts and all count. See offset accounts explained and the offset calculator.

Who does Macquarie suit?

  • Refinancers with 40% or more equity chasing the lowest rate band.
  • Households that like separate savings pots with multiple offsets.
  • Company and trust borrowers who want offsets on an investment loan.

Who might Macquarie not suit?

First home buyers with 5% (Macquarie is not on the 5% Deposit Scheme lender list), and borrowers at high loan-to-value ratios, where its pricing advantage narrows. Links Property Finance is paid by the lender when a loan settles, and you pay no broker fee. The commission is disclosed before you go ahead.

How do you leave Macquarie if you refinance or sell?

Macquarie needs its Discharge Authority printed and signed in ink by every party. Electronic signatures are not accepted. Its solicitor handles the discharge, which usually takes up to 21 days, and the $400 discharge fee is built into the payout figure. Offset access is restricted a few days before settlement.

The NSW registration fee of $182.73 applies on top. The full process is in mortgage discharge in NSW.

How does Macquarie compare with the other lenders we review?

Macquarie competes hardest on rate for borrowers with 40% or more equity, where ANZ and Westpac are often less sharp. It offers up to 10 offsets without Westpac’s package fee, but it is not a 5% Deposit Scheme lender, so small-deposit buyers usually look elsewhere.

Compare it with the Resimac home loan review and the ANZ home loan review; broker vs bank explains how a broker compares them all for you.

Questions people ask

How many offset accounts does Macquarie allow?

Up to 10 per variable loan account for individuals, with up to 4 requested at application. Companies and trusts up to 4.

Does the Macquarie Basic Home Loan have fees?

No ongoing fees, as stated by Macquarie on 27 October 2026.

What LVR gets Macquarie’s best rate?

Up to 60% of the property value on a principal and interest variable loan.

Can I apply for a Macquarie loan through a broker?

Yes. Links Property Finance can lodge it; Macquarie assesses and approves the loan on its own policy.

Charles Touma checks which rate band your loan falls into at Macquarie and compares it across lenders. A free 30-minute call covers which lender fits. General information only, not credit, tax or legal advice. Lender policies and products change, and your own circumstances decide what suits you.

Sources: Macquarie, home loans; Housing Australia, 5% Deposit Scheme participating lenders, checked 27 October 2026.

General information only, not credit, legal or tax advice. Your situation is assessed properly before any recommendation. Government scheme details change; figures are current at the time of writing.