ANZ Standard Variable Loan
Posted May 7th, 2010
and last modified May 11th, 2012
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- 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
ANZ has deigned their standard variable rate home loan to give the home loan customer full flexibility and value. This home loan is available for people wanting to by a residential property between the value of $20,000 to $10,000,000. This home loan has a number features that help the home loan customer accommodate any changes that may occur in the future and save them money.
Features of the ANZ Standard Variable Home Loan
A variable rate home loan is one of the most popular types of home loans in Australia. Therefore there is strong competition between providers, and for you, this means there are some great loan deals to be found. To help you decide if the ANZ variable rate home loan deal is the best for you, consider the following features:
- ANZ offset account
- Progressive draw down
- Repayment frequency
- Additional repayments
- Interest only repayments
- Redraw
- Repayment holiday
- Can be linked to a break free package
- Fees and charges
With the ANZ Standard variable home loan you are able to help reduce the interest you pay on your home loan by having a 100% offset account. A offset account works by using savings that you have to offset the interest that’s charged on your home loan for example if you have a loan of $200,000 and you have $10,000 in your offset account then you will only be charged interest on $190,000.
The ANZ Standard Variable loan can be use if you are building a house. This means that you are able to draw down on the available funds to pay your builder or contractors at the appropriate time, but you will need to make all your payments within twelve months.
It’s important that when you apply for a home loan that it lets you choose a repayment frequency that suits you. With an ANZ Standard Variable home loan you’re sure to find one, as you are able to make payments weekly monthly or fortnightly.
You are able to make extra repayments on an ANZ Variable home loan. This is great if you get some extra money and you would like to reduce the amount you owe on your home loan.
With an ANZ standard variable rate home loan you can have an interest only option. This means that you only have to pay the interest portion of the payments, this is a great option if you would like to free up some extra cash. The interest only option can only be used for up to ten years.
The ANZ redraw facility allows you to access the extra repayments that you have made on the home loan. This mean that you are able to redraw money from your home loan if something unexpected pops up without having to go through the application process.
This allows you to take a break from having to pay your home loan for up to three months. This means you are able to free up some money to spend as you wish. The repayments on your home loan will increase after the holiday to ensure that you pay off your loan in the agreed time. If you would prefer you can make the holiday payment in a lump sum at the end of the holiday period.
If you link a break free package to your ANZ standard variable loan it gives you the chance to make extra savings by using the packages features.
No establishment fee
No monthly account keeping fee on your loan
No monthly fee on a ANZ transaction account
Discounts on ANZ insurance products.
A discount of up to 0.70% off the standard variable home loan rate.
Some of the main fees and charges on an ANZ standard variable home loan are as follows
An establishment fee of $600
Monthly account keeping fee of $5
If you’re in the market for a new home loan or just looking to refinance your current home loan then you should compare the ANZ standard variable home loan to other home loan providers.
Read the ANZ Standard Variable Home Loan terms and conditions.
| Minimum Loan Amount | $20,000 | |
|---|---|---|
| Maximum Loan Amount | $10,000,000 | |
| Maximum LVR | 80% | |
| Maximum Insured LVR | 97% | |
| Mortgage Offset Account | Yes | |
| Loan Redraw Facility | Yes | |
| Split Loan Facility | Yes | |
| Fixed Interest Option | Yes |
| Interest Rate Type | Variable | |
|---|---|---|
| Interest Rate | 7.42% | |
| Comparison Rate | 7.52% | |
| Repayment Type | Interest Only | |
| Repayment Frequency | Weekly | |
| Extra Repayments | Yes |
| Application Fee | $600 | |
|---|---|---|
| Legal Fee | $0 | |
| Valuation Fee | $0 | |
| Service Fee | $5.00 | |
| Settlement 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 |
|
 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 |
|
 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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