Macquarie Bank has recently made the following key updates:
- changes to their fixed home loan rates
- the upcoming removal of their expat lending policy
Macquarie Bank reduced their fixed home loan rates
Macquarie Bank is pleased to let you know they have reduced all fixed home loan interest rates for new loans by up to 0.76% p.a. These rates have been effective for new loans formally approved since Tuesday 13 August 2024.
You can view their rate card for full details of their new fixed rates here.
Removal of Macquarie Bank’s expat lending policy
Macquarie Bank also wanted to let you know they are removing their expat lending policy and effective from Monday 9 September 2024, they will no longer accept applications from people who reside outside of Australia. From this date, in addition to the existing eligibility criteria, all applicants must be:
- living in Australia and have a current Australian residential address, and
- considered an Australian resident for tax purposes.
What this means for in flight applications
Macquarie Bank will continue to accept expat applications until 8 September 2024 (i.e. applications whereby the applicant doesn’t have an Australian address and/or isn’t an Australian tax resident).
Applications that are lodged prior to 9 September 2024 can be formally approved and settled within their usual timeframes. However, approval extensions or resubmissions of expat loans won’t be possible after this date.
If you have any questions, refer to your BDM.
