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Macquarie Home loan reviews

Overall rating
Price
Features
Customer service
Convenience
Trust
Based on 152 home loan reviews as rated by the Mozo community.

Featured home loan from Macquarie

Basic Home Loan

interest rate
2.84% p.a. variable
comparison rate
2.84% p.a.

Promoted

Recent Macquarie home loan customer reviews

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  • Macquarie Home Loan

    Quality online home loan alternative to big4

    Online only, no facility for funds removal apart from bank transfer

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    David, Western Australia, reviewed about 1 month ago
  • Macquarie Basic Home Loan (Fixed, Owner Occupier, Principal & Interest, LVR<70%)

    The Best Customer Service that I ever had in Oz

    I’m so happy with Macquarie Bank, they have the best Customer Service of any Bank that I have used in Australia. Is so easy to deal with Macquarie by Phone, that I never hesitate to call them when I need to change something. The waiting times are reasonable and also the knowledge of the person on the other side of the line excellent. On top of that, Macquarie provides with very good rates, better than the big 4 and quite competitive with the new financial startups.

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    Luis, New South Wales, reviewed 3 months ago
  • Macquarie Basic Home Loan (Owner Occupier, LVR<60%, Principal & Interest)

    Ruthless, be wear.

    If you are wealthy and don't fault you might be OK. If your average and get into trouble you will be shredded, even if there is a way out the will still mash you into the ground.

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    Matthew, New South Wales, reviewed 5 months ago
  • Macquarie Basic Home Loan (Owner Occupier, LVR<60%, Principal & Interest)

    Customer Mental Health and Suicide not a concern

    Disgusting attitude to customer Mental Health and suicide. Happy to provide info on how suicide could be used by the customer as a fix from foreclosure. Their Customer Advocate Department is just a tool they use for their benefit, completely shattering for the customer. Complaints department what can I say, I was thinking hard about offing myself after my last run-in with the manager there.

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    Matthew, New South Wales, reviewed 6 months ago
  • Macquarie Home Loan

    Banks somewhere else, they charge loyalty tax

    The banks service has gone down hill. Now they give a 1300 number to ring and the wait times are awful. I've tried to get the bank to match the new customer home loan rate after being a loyal customer for 10 years and they keep refusing to review the rate. They are very poor in responding to emails and are very fast to raise rates when they can. Avoid at all costs.

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    Tara, Australian Capital Territory, reviewed 9 months ago
  • Macquarie Offset Home Loan (Owner Occupier, LVR<60%, Principal & Interest) (Package)

    No one at Macquarie is responsible for your loan

    I recently took out a construction loan with Macquarie and the service so far has been terrible. The problem stems from the fact that you don't get a direct contact/bank manager that is accountable for the management of your loan. As a result, if you need something to happen (e.g. submit a progress payment so that your builder gets paid), then there is no single point of responsibility to makes sure that action is taken and any further communication is requested for. This is manifests in the (daily) experience below. 1. call their home loan line, be on hold until a consultant is available 2. go on hold again while they read through your notes/case (because they’ve never dealt with your loan before) 3. Provide the same answers to previously unresolved questions (because they’ve never dealt with your loan before) 4. Go on hold again while they make the same enquiries that the previous consultant made 5. Give “assurance “ that its being sorted but don't give any timeline or commitment to rectify 6. When pushed on 5. be given the answer “try calling us tomorrow to see if there’s any progress” (no one is responsible) 7. Repeat previous steps with a different consultant tomorrow Short story - their process doesn't seem to involve anyone having ownership of your account. Until Macquarie Bank make fundamental changes with how they handled construction loans I couldn't in good faith recommend Macquarie. I'll provide updates if we (ever) receive any communications or action on our loan.

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    Adam, Victoria, reviewed 10 months ago
  • Macquarie Home Loan

    Disappointed

    Way disappointed and Hope you go out of business and I wish you all the bad luck in this world

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    Steve, Victoria, reviewed 11 months ago
  • Macquarie Home Loan

    very competitive interest rate

    Very helpful with interest rates when I rang with them.

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    Darren, Western Australia, reviewed about 1 year ago
  • Macquarie Basic Home Loan (Fixed, Owner Occupier, Principal & Interest, LVR<70%)

    Home loan approved in 3 days with 2.09% rate

    Pro: ~ i got my loans approved in just 3 days while other banks may take a month to do so ~ got a conditional approval after just 1.5hours phone call ~ cheap rate, and accept apartment as security as well ~ super responsive staff members, they allocate their time to help you with tight settlement date Cons: None so far

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    Erwin, Victoria, reviewed about 1 year ago
  • Macquarie Home Loan

    An excellent banking provider with great rates.

    Macquarie are quick to respond to enquires. They try to do the right thing, e.g. don't charge a ATM fees if you have to use another provider...if they are able. Are secure and have competitive rates. Also have a good net banking service.

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    Paul, New South Wales, reviewed about 1 year ago
  • Macquarie Offset Home Loan (Owner Occupier, LVR<60%, Principal & Interest) (Package)

    The experience with Macquarie has been first class

    Macquarie have been extremely easy to do business with, their customer service is excellent and the online and App experience is very easy to navigate.

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    Paul, New South Wales, reviewed over 1 year ago
  • Macquarie Offset Home Loan (Owner Occupier, LVR<60%, Principal & Interest) (Package)

    Very helpful when needed

    They seem to be understanding and helpful when life gets in the way and you need a bit of assistance. Helped me through a tough patch, on track now.

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    Carol, Queensland, reviewed over 1 year ago
  • Macquarie Home Loan

    Just there to rip customers off.

    I requested the bank look at reviewing the rate they have me on of just over 5%. They have refused to do so on the basis of extremely weak arguments and it is an old product. There is an LVR of 25% involved. Service is absolute rubbish and they should remove care from customer care department and replace with couldn't care.

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    John, Queensland, reviewed over 1 year ago
  • Macquarie Offset Home Loan (Owner Occupier, LVR<60%, Principal & Interest) (Package)

    Excellent choice for home loans.

    Macquarie have been more than helpful from the beginning. They have also reviewed and reduced our interest rates to remain competitive with current market rates.

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    Kate, Queensland, reviewed over 1 year ago
  • Macquarie Home Loan

    Not the best option for competitive rates

    Large break cost fees on fixed loans. Not competitive on interest rates. Only positive is that they don't charge ATM fees for withdrawals.

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    Victoria, New South Wales, reviewed over 1 year ago
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    Home loan comparisons on Mozo - rates updated daily

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    • Unloan Variable

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    • Variable Rate Home Loan

      interest rate
      2.59% p.a. variable
      comparison rate
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    • Basic Home Loan

      interest rate
      2.84% p.a. variable
      comparison rate
      2.84% p.a.

      Promoted

    WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

    Want more? Compare all 464 home loans in the Mozo comparison engine.

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