Macquarie's broker-led market position
Macquarie has been one of the fastest-growing home loan books in Australia over the past five years, taking material market share off the Big 4. The growth has been driven almost entirely through the mortgage broker channel; Macquarie does not have a retail branch network and does not advertise heavily to walk-in consumers.
For borrowers, this means the practical access path is through a broker accredited on the Macquarie panel. The application experience is well-regarded for digital speed (electronic valuations, digital signing, fast settlement on standard files), and credit policy is reasonable for prime borrowers.
Macquarie typically wins files where the borrower has a clean PAYG income profile, is buying or refinancing a standard owner-occupier or investment property at reasonable LVR, and values digital speed over high-touch service.
Basic versus Offset
Macquarie's two main variable products are the Basic Home Loan (no offset, no annual fee) and the Offset Home Loan (100 per cent offset, annual fee applies). The same logic applies as at most other lenders: if your offset balance is consistently large enough to save more interest than the annual fee, Offset wins. If you run a thin savings buffer, Basic is the more honest choice.
The headline variable rate on the Basic product sits towards the sharper end of the Big 4 and tier-2 set in 2026, particularly at low LVR. The Offset product is priced slightly above Basic to fund the offset feature, but is still competitive against the Big 4 equivalent packages once the package fee is factored in.
Investor lending and SMSF
Macquarie writes both owner-occupier and investor home loans. Investor variable typically sits at the 25 to 40 basis-point premium over owner-occupier P&I that is standard market practice.
For SMSF property lending, Macquarie offers a specific SMSF product with its own credit policy, LVR cap, and serviceability assessment that uses the fund's contribution flow rather than the trustee's personal income. SMSF lending volumes have grown as a share of investor lending; check the specific eligibility detail with a broker who runs SMSF files regularly.
Practical positioning
Macquarie is on most mortgage broker panels and is frequently quoted alongside ING, Athena and the digital majors for prime owner-occupier P&I files looking for sharp pricing. The broker will compare not just the headline rate but the practical credit policy: Macquarie's acceptance of certain income types, LMI premium structure, and turnaround time on conditional and formal approval can materially affect which lender wins the file.
Product lineup at a glance
Below is the current published product range. Rates are not listed inline because they change with the cash rate and per-borrower credit overlay. Click through to the lender's own rate card for the live figure.
The honest pros and cons
- Consistently sharp variable rates, particularly at low LVR
- Fast digital application and settlement on clean files
- Strong investor and SMSF lending capability
- Basic product has no annual fee
- No retail branch network; access is via the broker channel
- Credit policy is conservative on non-standard income (some self-employed structures)
- Offset Home Loan annual fee should be modelled against actual offset balance
- Lower brand awareness for consumers who default-think Big 4
Frequently asked questions
What is the current Macquarie home loan rate?
Macquarie publishes its home loan rates on its home loan rates page. The figure changes with the bank's funding cost. For a specific borrower file, a broker on the Macquarie panel can quote the actual rate that would apply after LVR, owner-occupier versus investor, and Basic versus Offset are taken into account.
Is Macquarie a good home loan?
For prime PAYG borrowers buying or refinancing standard owner-occupier or investment property at reasonable LVR, Macquarie has been consistently among the most competitive options in the Australian market over the past three years. For complex files, the answer depends on which credit policies the file needs to fit through; that's where a broker comparing multiple lenders adds value.
Can I apply to Macquarie directly?
Macquarie does accept direct online applications for some home loan products, but the bulk of its volume comes through accredited mortgage brokers. The broker channel often surfaces the same pricing with the added value of comparing across multiple lenders.
Does Macquarie do SMSF lending?
Yes. Macquarie has a dedicated SMSF property lending product with its own eligibility, LVR cap and serviceability assessment based on the fund's contribution flow. SMSF lending is more specialised than owner-occupier residential; use a broker who writes SMSF loans regularly.
How fast can Macquarie settle a home loan?
On clean, well-prepared files, Macquarie can move from application to formal approval within a week, and from formal approval to settlement within 2 to 4 weeks depending on the conveyancing timeline. Complex files (self-employed, non-standard property, multiple borrowers) take longer.