ANZ Land Loan
Posted May 21st, 2010
and last modified January 31st, 2012
What happens when I click Enquire Now?
- Clicking Enquire Now will take you to the lender's website
- After completing the contact form, a mortgage expert will contact you
- The mortgage expert will ensure you find the right loan, calculate your repayments, and explains all the associated fees
- After going through the enquiry process you will be able to know how much you can borrow, begin your application when you are ready to apply and be approved for a home loan
If you have been looking for the perfect block of land to build your dream house on and have finally found it then you should look at the ANZ land loan. This home loan offers a full range of features and options, while giving you up to three years to build so you have plenty of time to design the perfect house to match the perfect the block.
Compare the ANZ Land Loan
Available options on the ANZ Land Loan
To help you choose whether or not the ANZ land loan is suitable for you and your financial situation here is a rundown on some of the options available:
- Land loan LVR
With an ANZ land loan you are able to borrow up to 80% of the property’s value with mortgage insurance but you are only able to borrow 80% of the property’s value if you don’t want to pay for mortgage insurance.
- Offset Account
You can have an ANZ 100% offset account. This means that you are able to use your everyday savings to reduce the interest that’s charged on your ANZ Land loan. The offset account works by using the balance of your offset account to reduce the balance of your ANZ land loan for example if you have a land loan for $150,000 and you have a balance of $15,000 in your ANZ one offset account the you will only be charged interest on $135,000.
- Extra repayments
With the ANZ Land loan there are no fees for making extra repayments this means that you are able to make extra repayments whenever you like without having to worry about incurring any fees or charges, making it easy to reduce your land loan’s balance and save you money.
- Interest only
If you have an ANZ Land loan you have the option of only having to pay the interest portion of the repayments for up to three years, this is a great option for being able to free up some extra cash. The interest only option is also useful if you need to build up some extra savings before building.
- Redraw
The redraw facility that’s offered by ANZ on their Land Loan gives you access to the extra repayments that you have made. This means that if you have some extra money and you would you want to reduce the amount you owe on your home loan you can do so knowing that you will be able redraw the money if for some reason you need extra cash. There is no fee for using the ANZ redraw facility but you do need to redraw a minimum amount of $2,000.
- Using the ANZ Land loan
The ANZ land loan can be used by people that would like to buy a residential block of land, the land must have a value of between $50,000 and $1,000,000 and you must start building on the block of land within three years (within twelve months if you are building a investment home) the ANZ land loan can be taken out over thirty years.
- Variable interest rate
Variable interest-rate loans are often lower than fixed rate loans but it means that the bank is able to change the interest rate being charged on your loan to cover extra funding costs or movements in the official interest rate.
- Fixed interest rate.
If you prefer the peace of mind knowing that the repayments on your home loan won’t change then you can consider fixing the interest rate on your ANZ land loan. ANZ offer fixed rate terms ranging from one year to 5 years, 7 years, or 10 years so you’re sure to be able to find a fixed term that suits you and your financial situation.
You can also check out other ANZ home loan offers before making your decision.
Read the ANZ Land Loan terms and conditions.
| Minimum Loan Amount | $50,000 | |
|---|---|---|
| Maximum Loan Amount | $1,000,000 | |
| Maximum LVR | 80% | |
| Maximum Insured LVR | 95% | |
| Mortgage Offset Account | No | |
| Loan Redraw Facility | Yes | |
| Split Loan Facility | No | |
| Fixed Interest Option | No |
| Interest Rate Type | Variable | |
|---|---|---|
| Interest Rate | 7.42% | |
| Comparison Rate | 7.52% | |
| Repayment Type | Principle & Interest | |
| Repayment Frequency | Weekly | |
| Extra Repayments | Yes |
| Application Fee | $600 | |
|---|---|---|
| Legal Fee | $0 | |
| Valuation Fee | $0 | |
| Service Fee | $0 | |
| Exit Fee | $160 | |
| Early Termination Fee | $0 |
Top Home Loans
| Home Loan | Details | Interest Rate (p.a.) | Comp Rate^ (p.a.) | App Fee / Ongoing Fee | Max LVR | Min & Max Borrowing | |
|---|---|---|---|---|---|---|---|
 Loans.com.au - Dream Catcher | A home loan offer with a $0 application fee and one of the lowest available home loan interest rates. | 5.85% | 6.21% | $0 / $375 | 80% | $50,000 / $750,000 |
 
|
 Bankwest Online Home Loan | A low interest rate home loan with a $0 application fee and ongoing maintenance fees. This offer is exclusively available by applying online. | 5.97% | 5.97% | $0 / $0 | 80% | $100,000 / $1,000,000 |
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 Illawarra Home Loans Bank Beater Home Loan | A low variable rate, beaten down even further by 0.05% p.a. after 5 years. | 6.07% | 6.35% | $0 / $345 | 90% | $250,000 / $1,000,000 |
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 State Custodians Mortgage Company Standard Variable Offset Loan | Awarded the 2011 Non bank Lender of the Year this feature-packed loan rewards customers with a bonus rate drop of 0.25% after 5 years. | 6.02% | 6.23% | $0 / $345 | 95% | $150,000 / $1,000,000 |
|
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