Macquarie lending policy affects two records in a broker’s file: the credit approval and the commission attached to the loan. Start with the loan event and its remuneration terms, then match the proposed split and borrower income to Macquarie credit policy.
A change in account number can look like a discharge in your report. Keep the old and replacement loan references together so you can distinguish a restructure from lost business. The lender-policy directory helps you compare another lender’s treatment when a client changes banks.
Upfront Payments and Trail Eligibility
Keep Macquarie Bank residential home loans separate from its Business Banking products and withdrawn white-label products. A schedule for one channel cannot determine payment on another.
The Macquarie residential section of the Connective Commission Guide describes upfront calculated from the drawn loan balance net of offset. It describes recurring trail using the average daily loan balance. Those are distinct calculation bases. The guide also lists trail cessation for prolonged default and hardship arrangements.
For each settled loan, record the approved limit separately from the funds advanced. Attach the remuneration agreement that applies to that loan, including its calculation point and any construction treatment. Match the expected payment to the aggregator statement before treating a difference as missing commission.
An offset reduces the customer’s interest on its linked variable account, as Macquarie’s offset explanation describes. That customer benefit does not establish the broker’s trail calculation. Keep the trail balance and the upfront offset adjustment as separate fields in your payment record.
Macquarie’s Broker Code of Conduct prohibits influencing customers to move funds to change a commission outcome. Explain the client’s offset choice through their needs and loan costs.
Payout Clawbacks and Internal Refinance
A full payout ends the original debt. An external refinance replaces it with another lender’s debt, so continuing Macquarie trail must be reconciled against the closed account.
Connective’s published Macquarie residential schedule distinguishes full-repayment recovery from partial-repayment recovery. Its legacy loan categories have different recovery terms. Apply the agreement attached to the original settlement when calculating exposure.
Record an internal replacement separately. Identify whether Macquarie has varied the same facility or closed it and created another. Preserve the payout advice, replacement reference and broker attribution. These establish which account’s trail you expect next and which recovery clause the transaction engages.
An internal replacement is not an automatic exemption from recovery or an automatic entitlement to a fresh upfront. Treat both as agreement-based outcomes. If the statement shows a recovery, compare the amount with the specific event clause and the commission originally paid.
Track My Trail’s Clawback Risk lists loans within their clawback period, with days remaining and upfront exposure under the applicable rules. Use the loan-level estimate to prioritise the payment records you review before a proposed payout.
Top-Ups, Splits and Balance Movements
Additional borrowing and a transfer between existing splits are different events. The Connective guide describes principal-increase remuneration separately from the original upfront and assigns variation-related trail to the referring broker.
In a hypothetical file, a client has $500,000 owing and requests $40,000 for renovations. A proposed $540,000 facility contains $500,000 of existing debt and $40,000 of additional lending. Moving part of that debt into a fixed split does not create another advance of the transferred amount.
Prepare a before-and-after account schedule with each split’s reference, limit, drawn balance and purpose. Add the amount paid out to each old account. This makes the total new advance visible without counting the same debt twice.
Macquarie’s product comparison describes both Basic and Offset home loans with multiple loan accounts. Offset accounts attach to eligible variable accounts, while a fully fixed facility cannot have the Offset structure. Preserve that allocation when changing the split sizes.
If trail drops after the restructure, match the last old-account payment to the first replacement payment. Raise a missing-payment query with both references and the balance movements, so the payment team can trace the transaction.
Salary, Variable Pay and Business Earnings
Macquarie’s income calculation guidance separates base salary from overtime, bonuses and employment commissions. Enter the full verified variable amount. The calculator generally accepts 80%, with 100% treatment for qualifying essential-services overtime. Variable earnings must be ongoing and part of employment.
The credit guidelines require two recent payslips and at least three months of year-to-date earnings when relying on variable pay, subject to specified exceptions. Build the annualised figure from the covered pay period, then explain any seasonal pattern. A single unusually strong payslip cannot establish an ongoing annual amount.
In the hypothetical renovation file, the salaried applicant earns $100,000 base pay and has $10,000 of verified annual variable pay. With ordinary 80% shading, that stream contributes $8,000. Entering $8,000 would cause the calculator to shade an already reduced figure again.
For the joint applicant’s business earnings, use Macquarie’s self-employed application guidance. Standard applicants need two years of consistent income supported by business financials and personal returns. Trace income through every entity to the applicant and allocate it by ownership. Remove non-recurring income and avoid counting a director’s salary twice.
Macquarie’s self-employed guidance normally caps rising adjusted income at 120% of the previous year, without exceeding the latest year. To use the latest year in isolation, the increase must be ongoing. At least six months of business activity statements (BAS) must support revenue at 90% or more of that year’s annualised level.
For falling income, use the latest year. A fall exceeding 20% requires supporting BAS when cash out exceeds refinanced debt plus the $5,000 costs allowance. Those BAS must support revenue at 90% or more of the latest year’s annualised level. The cash-out condition excludes a deposit for a related purchase application submitted to Macquarie. Accountant-prepared interim financials covering the same period can replace BAS.
Using a two-year average requires discussion with Macquarie’s business development manager (BDM) and usually updated BAS. Explain rising expenses or falling income in the application notes.
Keep rental income outside the business-income worksheet. Macquarie’s calculator guidance accepts 75% of verified ordinary residential rent, with different treatment for short-term and commercial rent. Allocate it by each applicant’s ownership.
Residence and Joint Applicants
Macquarie’s residency matrix combines citizenship or visa status with residential address and dependence on each applicant’s income. A temporary-resident spouse can fit standard parameters when they are not the predominant servicer. A non-spousal temporary-resident applicant whose income is required falls outside those parameters.
Record each applicant’s Australian address and status evidence before using their income. State the relationship and show who services the debt. If removing one applicant’s income causes the file to fail, that dependence must appear in the scenario request.
For a joint applicant paid by the other applicant’s business, trace the wage back to that entity’s financials. Keep the wage and business profit reconciliation beside the ownership record, so the assessment does not count the same earnings twice.
Security Types and Loan Purpose
Macquarie’s guidelines accept residential houses and qualifying units. Restricted securities require individual consideration, while commercial security is outside standard residential acceptance. A residential investment purpose does not make every property type acceptable security.
The guidelines require a full valuation above 80% loan-to-value ratio (LVR). Valuations must be assigned to Macquarie and meet its age requirements.
For a purchase, match the security details and acquisition purpose to the contract. For investment lending, add ownership and rent evidence. A refinance file needs the existing debt and payout amounts. Additional funds need an explained use, including how renovation funds will be controlled.
Where the loan relies on an on-completion valuation, Macquarie requires construction drawdown controls. Identify this before treating the renovation increase as a standard cash advance. Keep the security assessment separate from whether the income services the debt.
Submission Documents and Exceptions
For annualising variable pay from two recent payslips, section 3B of Macquarie’s credit guidelines requires that “the YTD figure covers a period of at least 3 months”. Fixed allowances and bonuses have separate treatment. If year-to-date (YTD) income is missing or covers less than three months, provide the prescribed prior-year income evidence. Use the lower of annualised YTD income and the prior financial year’s income.
In the hypothetical split file, identify whether the payslips meet that condition before relying on the variable earnings. If the requested treatment differs, name that difference and seek written acceptance. An explanation alone cannot replace Macquarie’s approval.
For the hypothetical split file, submit a scenario summary that connects the requested increase to the borrower’s evidence. The supporting pack must let the assessor reproduce your figures.
- Identify the policy section and quote the relevant condition. State exactly how the proposed income treatment or security differs.
- Attach evidence for that difference. For variable pay, include payslips and the annualisation calculation. For business income, provide the entity financials and ownership allocation.
- Specify the decision requested. Name the amount of income, loan structure or security characteristic you want accepted, and explain the evidence supporting it.
- Retain the written response with its conditions. Map the response to the application and the proposed account schedule.
If the loan amount changes, recalculate servicing and LVR against the revised split schedule. If the security changes, provide the replacement property evidence and valuation. Present the changes against the approved scenario and obtain written acceptance of the revised request before relying on the earlier decision.
Use the Macquarie broker portal guide for account access and support. Keep the credit decision with the application and the remuneration record with the settlement, linked by the final loan references.
