ANZ Home Loans

The ANZ is the largest bank in New Zealand, the fourth largest bank in Australia and one of the largest in the world with operations in 25 other nations. In 2008 the Dow Jones Sustainability Index rated it the world’s most sustainable bank, a title it carried over from the previous year, although in 2007 it shared the mantle with another Australian bank, Westpac. Home loans are a major activity for ANZ, lending to owner occupiers or property investors.

Comparison of ANZ Home Loans

Home Loan	Details	Interest Rate (p.a.)	Comp Rate^ (p.a.)	App Fee / Ongoing Fee	Max LVR	Min & Max Borrowing
ANZ Breakfree Home Loan Package ($150,000 – $249,999)	Take advantage of up to 0.70% off the Standard Variable Rate	6.80%		$ 0 / $375	80%	$150,000 / $249,999
ANZ Breakfree Home Loan Package ($500,000 – $699,999)	Enjoy great savings and a range of benefits on this package	6.70%		$0 / $375	97%	$500,000 / $699,999
ANZ Breakfree Home Loan Package ($700,000 plus)	Be rewarded with bonus interest on recognised savings accounts	6.60%		$ 0 / $375	80%	$700,000 / $10,000,000
ANZ Equity Manager	Unlock your equity and enjoy 0.50% interest rate discount	7.45%		$600 / $150	92%	$20,000 / $10,000,000
ANZ Land Loan	Purchase the land you intend to build on within three years with the ANZ Land Loan	7.30%	7.40%	$600 / $ 10	90%	$20,000 / $1,000,000
ANZ Simplicity Plus Basic Home Loan	Additional repayments and a low variable rate for the life of the loan	6.60%	6.65%	$0 / $ 0	80%	$50,000 / $1,000,000
ANZ Lo Doc Loan	One of the best low doc loans on the current market.	6.71%	6.77%	$ 0 / $ 0	60%	$20,000 / $0
ANZ Standard Variable Home Loan	Hard to beat flexibility and value with the ANZ Standard	7.30%	7.40%	$0 / $5	95%	$20,000 / $10,000,000
ANZ Fixed Rate Home Loan – 2 Year Fixed Rate	Flexible repayment options to help you save.	5.95%	7.09%	$0 / $10	97%	$20,000 / $10,000,000

If you are buying a home, you can choose from the:

• ANZ Simplicity PLUS Home Loan.
• ANZ Variable Interest Rate Home Loan.
• ANZ Fixed Interest Rate Home Loan.

Each ANZ home loan includes the following benefits:

• You can reset the repayments without having to refinance the mortgage.
• Your choice of repayment frequency.
• You can make additional repayments.
• You can redraw from a variable interest rate home loan for free.
• You can make interest only repayments for up to 10 years.

ANZ Loan to Value Ratio

During the immediate aftermath of the Global Financial Crisis, many lending institutions, including ANZ, tightened their lending criteria to make sure that their customers weren’t overextended on home loans they couldn’t afford. In the years since the GFC, the Australian economy has made a strong recovery, as evidenced by our official interest rates which have risen from their emergency levels. Lenders such as ANZ have also been able to see their customers managing well with their home loan repayments, and exhibiting responsible spending and saving behaviours.

As a result, in September 2010 ANZ increased the Loan to Value Ratio for both existing and new ANZ customers with a good credit report. The Loan to Value Ratio is the percentage of the property value that you can borrow. For example, if you wanted to buy a $200,000 home and your bank allowed only a 90% LVR then you would only be able to borrow $180,000 and you would need a 10% or $20,000 deposit.

While ANZ had previously applied a 90% LVR to all of its loans, the changes have meant:

• Eligible existing ANZ customers can borrow up to 95% of the property value.
• Eligible existing ANZ customers can borrow up to 97% of a property’s value if they finance the Lenders Mortgage Insurance premium.
• For eligible new customers who finance the Lenders Mortgage Insurance premium, the LVR is 92%.

You may be an eligible existing ANZ customer if you have held a retail lending product from the bank for more than six months, such as a home loan, a residential investment loan, a personal loan, credit card or overdraft, and you have a good credit history.

Simplicity PLUS Home Loan

The Simplicity PLUS home loan is the most basic of all the ANZ mortgage loans. It has a low variable interest rate that is guaranteed to remain low for the life of the loan. There are no extra features attached so you won’t be paying for features you don’t need, but at the same time you can make unlimited additional repayments whenever you have funds spare. When you make additional repayments above the minimum repayment amount the repayment directly reduces the principle of your loan so that you pay off your mortgage sooner, and save interest.

The ANZ Simplicity PLUS Home Loan has a loan approval fee of $600 to pay upfront but there is no ongoing loan administration fee to worry about over the term of your loan. There is also no fee charged for using the redraw facility so you can access any additional repayments you have made in case you need the funds in an emergency. Whenever you redraw from your loan, the minimum amount is $50,000.

ANZ Standard Variable Rate Loan

The ANZ Standard Variable Rate Home Loan is structured to give you a home loan with full flexibility and value. It has a number of worthwhile features that are designed to accommodate any changes you may experience in your financial and personal circumstances as well as help you to save money. For example, you can take out this particular mortgage in the name of an individual, a company or a business entity but the property being purchased must be for the benefit of yourself, a company director or the beneficiaries of a trust. There are certain taxation benefits in taking out a home loan in a company’s name and to find out whether you are in a position to benefit from this loan structure, contact Home Loan Finder.

With an ANZ Standard Variable Loan you can also pay out your mortgage at any time if you decide to sell your home or refinance your loan, however, exit fees and charges will apply. You can also make additional repayments at any time and there is a redraw facility so you can access those additional repayments if you need them in the future. To save you even more interest than simply making additional repayments, you can also link a 100% offset account to your loan where your income and savings offset the interest charged on your loan. Plus, under certain circumstances you can take a repayment holiday for up to three months if for example, you have a baby, lose your job or go on a trip and your income is reduced.

ANZ Fixed Rate Home Loan

The fixed rate home loan is the ANZ loan which can offer you the certainty of knowing what your repayments will be each month, for the period of the fixed term, thereby safeguarding you and your household budget against any upward movement in interest rates that may occur. It is also available to be taken out in an individual, company or business name.

The fixed interest rate terms available are one, five, seven or 10 years on an overall loan term of 30 years. The minimum amount that can be borrowed under the terms of the fixed rate home loan is $20,000 and for any loan with a LVR of more than 80%, Lenders Mortgage Insurance will be required.

ANZ Breakfree Home Loan Package

The ANZ Breakfree package offers great savings and benefits to all ANZ mortgage and investment loan holders by encompassing your everyday banking accounts, savings and ANZ credit cards. If you are eligible to add the Breakfree package to your ANZ home loan you can benefit from:

• Fee waivers on loan approvals and account service fees on selected ANZ products.
• Bonus interest paid on selected savings accounts.
• Discounts on selected ANZ insurance products.
• Priority customer service.
• A discount of up to 0.70% off the ANZ standard variable interest rate.

ANZ Fixed Rate Comparison

Home Loan	Details	Interest Rate (p.a.)	Comp Rate^ (p.a.)	App Fee / Ongoing Fee	Max LVR	Min & Max Borrowing
ANZ Fixed Rate Home Loan – 1 Year Fixed Rate	Enjoy the certainty of knowing your repayments for the fixed period	6.39%	7.71%	$0 / $10	97%	$20,000 / $10,000,000
ANZ Fixed Rate Home Loan – 2 Year Fixed Rate	Protect yourself from interest rate hikes	5.95%	7.09%	$0 / $10	97%	$20,000 / $10,000,000
ANZ Fixed Rate Home Loan – 3 Year Fixed Rate	Ensure your home loan repayment schedule remains secure	6.43%	7.47%	$0 / $10	97%	$20,000 / $10,000,000
ANZ Fixed Rate Home Loan – 5 Year Fixed Rate	One of the most competitive fixed rates on the market	6.84%	7.54%	$600 / $10	97%	$10,000 / $20,000

How to Apply for an ANZ Home Loan

Applying for a home loan can be a daunting task between the forms and building your deposit; wouldn’t it be nice if you just complete the application in your lunch break? With ANZ you just about can:

• Start an application online in 2 minutes. When you follow a secure link from our comparison tables, you will be taken directly to an online application form for the ANZ home loan of your choice. Simply take 2 minutes out of your day to enter your personal contact details, the amount you want to borrow, the deposit you already have, and whether or not you are employed. You don’t have to enter your income, expenses or other assets and liabilities so the form really will take just 2 minutes.
• An ANZ mortgage expert will contact you. Within 1 business day you can expect a return call from an ANZ mortgage expert who can help you with the information you need to finalise the rest of your loan.
• You will need building insurance before your loan can be processed. Even if you are looking for a loan on just a block of land, you will need building insurance to cover the replacement cost, and this is a requirement before your ANZ home loan can be approved.

To make your home loan decision faster and easier, start by comparing all of the features of all ANZ home loans using our comparison tables here. This will help you determine the features you need and want, and which you can money on by going without, and when you have settled on an ANZ loan you’re interested in, follow our secure link to start your application process in just minutes. In just a few simple clicks you can be on your way to turning a home loan into a home reality.

Related Resources

• ANZ Breakfree Home Loan Package ($150,000-$249,999)
  With low annual fees and a discounted interest rate, the ANZ Breakfree loan may be the best option for you.
• ANZ Breakfree Home Loan Package ($500,000-$699,999)
  With low fees and range of features to give you flexibility down the track, the ANZ breakfree loan can meet the needs of home buyers and investors alike.
• ANZ Breakfree Home Loan Package ($700,000 plus)
  A feature packed loan giving customers flexible repayment options and a competitive interest rate.
• ANZ Easy Start
• ANZ Equity Manager
  It is easy to build up equity in your home if you make regular mortgage repayments, therefore, wouldn’t you like to be able to unlock some of that equity easily, down the track? With the ANZ Equity Manager home loan you can use the equity in your home as a line of credit for anything you want or need.
• ANZ Five Year Fixed Loan
• ANZ Fixed Rate Home Loan (1 Year)
  Before you can secure the home of your dreams, most of us need to find the loan of our dreams, so find out more about whether the ANZ fixed home loan features can benefit you, and make your dreams a reality.
• ANZ Land Loan
  Building your own home is a great way to get the home of your dreams, so couple that experience with loan of your dreams by considering whether the ANZ Land Loan is right for you. if you’re still not sure, contact us at Home Loan Finder and we can assess your finances and situation to match you to the perfect land or construction loan.
• ANZ RIL Fixed Interest Paid Yearly in Advance
• ANZ Simplicity PLUS Basic Home Loan
  ANZ brings to the table a basic loan giving a low ongoing variable rate and a range of features to save you money and make your mortgage repayment stress free. Find out more about the ANZ Simplicity Plus
• ANZ Simplicity PLUS Investment Loan
• ANZ Standard Variable Loan
  Variable loans can be very competitive, but you still need to make sure you are making the right comparisons, and understand all the features you are getting.
• ANZ Three Year Fixed Rate Home Loan
• ANZ Two Year Fixed Rate Home Loan

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