To make changes to your property, land, or title, you’ll need to submit a variation application which is usually subjet to a credit assessment and approval. This can be done through your broker or by sending an email with the relevant supporting documents to mortgagevariations@macquarie.com.
You'll need to allow up to 28 days for this to be finalised.
A new loan application is required to add a borrower or guarantor to your loan.
To remove a borrower or guarantor, a full credit assessment on the remaining borrower/s who will be liable for the debt is usually required.
Documents required
For home loans with a BSB starting 183, you typically cannot add a borrower or guarantor. To discuss your options, please get in touch with a Macquarie consultant using live chat.
A borrower can’t be added or removed from the existing home loan in the following scenarios (a new home loan application is required):
A mortgagor is the owner listed on the title for the property in which the mortgage is secured against.
Documents required
For home loans with a BSB starting 183, you typically cannot add a mortgagor. To discuss your options, please get in touch with a Macquarie consultant using live chat.
A second registered mortgage is where another lender or party is to be noted on the title as second mortgagee behind our registered mortgage. For example, a Family Guarantee scenario where another lender has approved a loan using the parents' security registered with Macquarie.
Documents required
A request from the proposed second mortgagee which must include:
A subdivision is where you wish to subdivide a parcel of land into smaller individual lots, which will result in separate certificates of title.
Documents required
To start the process, we only need scanned copies of the documents mentioned above. All original documents are to be retained by you and can be provided to our solicitors once the request has been approved.
This request is to subject to a full credit assessment and is subject to approval.
For home loans with a BSB starting 183, we typically do not provide consent to subdivisions. To discuss your options, please get in touch with a Macquarie consultant using live chat.
A Plan of Consolidation allows two or more parcels of land to be consolidated into one marketable parcel. For example, when you own two properties adjacent to each other, you can lodge a Plan of Consolidation to have the two parcels of land merged under one Certificate of Title.
Documents required
Valuations will be requested for all lots being retained as security (with the Plan of Consolidation provided by you or your legal representative).
A strata plan is a subdivision of a parcel of land into separate lots, including 'common' property that can be accessed by all owners within the strata complex. An example where this is required may be when you construct a duplex, they may wish to subdivide and register a ’strata’ plan for the properties, rather than the land being divided into separate ‘freehold’ Certificates of Title.
Documents required
This is where the defined boundaries of a property will be changing. For example, a boundary realignment would be required if you are looking to purchase/sell a portion of land from/to your neighbour. Another example would be where the council intends to reclaim land.
Documents required
A valuation may be required.
A covenant is essentially a promise to do or maintain something after a property has been purchased. For example, your neighbour may need to maintain a storm water retention tank that was installed by them to stop your property potentially being flooded in bad weather. The covenant is your neighbour’s 'promise' to maintain that water retention tank.
Documents required
A valuation may be required.
Where you rent your property through a scheme, the governing body of that scheme may require the lease to be registered on the Certificate of Title. Examples where a consent to lease may be required include when your property is part of Defence House Authority (DHA) or the National Rental Affordability Scheme (NRAS).
Documents required
A right of way is a type of easement that gives someone the right to travel across property owned by another person.
Documents required
A valuation may be required.
An easement is a section of land registered on your title, which gives someone the right to use or access that land for a specific purpose even though they are not the landowner. For example, a council may have a sewerage easement listed on your title.
Documents required
A valuation may be required.
To consider an insurance claim made on the security property for your home loan, we'll need a copy of the insurance claim letter issued by your insurer with the claim amount.
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Please get in touch as soon as possible so we can work together to find the right solution for you.
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