Macquarie Bank’s Home Loan Surge Defies Industry Trends – Money Advice Experts in Services

Macquarie Bank has defied industry trends with a notable 19% surge in its home loan book, marking a significant growth in its market share within Australia’s home loan industry. The bank’s home loan portfolio expanded to $141.7 billion, representing 5.9% of the total Australian mortgage market over the past financial year ending in March 2025.

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A remarkable aspect of Macquarie’s success is that a substantial 94% of its home loans were originated through the broker channel. This is in stark contrast to other banks that have been decreasing their reliance on third-party brokers. Wendy Brown, Macquarie’s head of broker sales, attributes this growth to the bank’s strong partnership with brokers and their pivotal role in delivering exceptional customer experiences.

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Macquarie’s strategic move to intensify its mortgage business is seen as a direct response to the competition posed by Australia’s Big Four banks. In contrast, the Commonwealth Bank of Australia (CBA) has reduced its broker-originated new mortgage business to 35%, prioritizing its proprietary channel over brokers. Similarly, National Australia Bank (NAB) and Bank of Queensland (BOQ) have also shifted focus towards expanding their direct lending capabilities, reducing their reliance on the broker channel.

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Despite the industry trend of banks distancing themselves from brokers, Macquarie’s proactive approach of embracing the broker channel has yielded positive outcomes. This highlights the enduring relevance and value that brokers bring to the mortgage industry, offering a reminder of the importance of strong partnerships in driving growth.

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The Finance Brokers Association of Australasia (FBAA) and industry experts have expressed concerns over banks moving away from brokers, emphasizing the potential loss for banks that neglect this channel. Macquarie’s success story stands out as a testament to the continued demand for mortgage brokers, with approximately 76% of all new residential home loans in Australia being written by brokers, according to the Mortgage & Finance Association of Australia (MFAA).

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Adam Brown from NAB reiterated the bank’s commitment to both channels, highlighting the dual focus on broker and proprietary channels for growth. This strategic positioning underscores the evolving landscape of the mortgage industry, with banks navigating between traditional broker models and direct lending approaches.

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Macquarie’s performance serves as a beacon for the industry, showcasing the potential for growth through broker partnerships amidst shifting market dynamics. As the mortgage sector continues to evolve, the emphasis on collaboration and innovation remains key for banks to stay competitive and relevant in meeting the diverse needs of customers.

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