Lender review


LoanCaddie Opinion

Firstmac is a non-bank that aims to be more competitive than the banks. It does this by having no branches and less staff. It sources its funds from the wholesale market. Hence, although its rates are competitive, they are also subject to higher volatility. Firstmac make its money by packaging many loans and selling them to the wholesale market for a profit. Hence, it makes its money from you after a few months as opposed to over the life of your loan. Its services should be considered as a one-off transaction as opposed to one that will foster an on-going relationship.

Facts and lender background

Firstmac has a long involvement in the Australian home loan industry, having originally entered the market in 1988 as a Mortgage manager. In 2006, it bought the broker originated mortgage portfolio of HSBC.


Firstmac has grown from a small family business to become Australia's largest non-bank lender. Over time we have provided 100,000 home loans and we currently manage $11 billion in mortgages and $250 million in cash investments. Our headquarters is in Brisbane, Australia.

Credit Rating

Firstmac does not hold deposits and does not have a credit rating. It's funders may collect deposits and will have a relevant credit rating.


Firstmac is a privately-owned company. It is 100% Australian owned. It also owns the loan.com.au brand


Customer service
Product Review Rating

average is 2.1 / 5

Branch network

Firstmac does not have its own branches.

Internet banking

Internet banking is available.