ANZ Equity Manager
Posted May 21st, 2010
and last modified January 31st, 2012
If you would like to unlock the equity that’s in your family home or residential investment property to spend on any personal purchases, or be able to reinvest in an investment of your choice, then you should be looking at an ANZ Equity manager home loan. This home loan works by offering you a flexible line of credit that is secured by your residential property.
Compare the ANZ Equity Manager Home Loan
From the moment you make your first repayment on your home loan, your loan amount is reducing. At the same time the value of your property will be going up, and this creates equity in your home loan – the difference between what you owe, and what your property is worth. With an ANZ Equity Manager home loan you can unlock all those payments you’ve made and the increase in the value of your property, to use them again for anything you want or need. The key features and benefits of having an ANZ Equity manager home loan are as follows:
- You can take advantage of opportunities. Because you can withdraw funds from the ANZ Equity manager home loan quickly you will never be able to miss out on an opportunity that comes your way because you are unable to get your hands on funds quickly enough.
- Can access funds at any time. Because the ANZ Equity manager home and can be used as an everyday transaction account you can access funds up to the approved credit limit and at any time using phone or Internet banking, BPAY, ATMs, EFTPOS, and cheque facilities at any ANZ branch.
- No set repayment time. Because there is no set repayment time on an ANZ Equity manager home, it means that you’re able to pay the loan off at a pace that suits you and your financial situation.
- Easy repayments. With the ANZ Equity manager you get the choice of being able to choose when you make your home loan repayments whether it be weekly monthly or fortnightly.
- No penalties for extra repayments. There are no fees or penalties to making any extra repayments on a ANZ Equity manager loan this means you can pay the home loan off as fast as you like without having to a worry about incurring any fees or charges.
- Minimum and maximum amounts. This home and can be used to purchase residential property with a value between $20,000 and $10,000,000 and can be used up to a period of 30 years. You can borrow a maximum of 92% of the property’s value without mortgage insurance and up to 92% of the property’s value with mortgage insurance.
- Fees and interest rate. There are several frees and charges on this ANZ Equity manager home loan so it is important to make sure that the benefits you receive from these features will outweigh the extra costs and fees you are going to have to pay, some of the fees are:
An application fee of $600
An ongoing yearly fee of $150
- The ANZ Equity manager home loan has a variable interest rate that cannot be fixed.
- Interest only. You can use the ANZ equity home loans interest only option if you would like to free up some extra funds because it means that you only have to pay the interest portion of the home loan repayments.
- Using your equity. You can use the funds available from an ANZ Equity manager home loan for any personal purchase you like. This could include funding a new investment, purchasing a new property or you can even use it to help your children reach the dream of buying their own house.
An ANZ Equity manager home the best suited to those people that would like to have access to the equity that’s locked up in their residential property to use as they see fit. To compare this ANZ home loan to other home loans that are provided by financial institutions in Australia you can view how home loan finder comparison tables here and then follow the secure link to your chosen provider website to start an application today.
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