ANZ Bank

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ANZ

Founded: 1835

Lender Type: Major Bank

Owned by: ASX Listed

One of Australia’s big four banks, ANZ Bank is also a top national mortgage lender. Their focus is on low-risk loans that cater to the average borrower. A strong contender because of their success with mortgage brokers and the bank’s sheer size and market dominance, ANZ is able to offer a variety of full-featured home loans. However, this lender doesn’t have much to offer in terms of specialised loan products.

Key Benefits

Option to package mortgage with other financial accounts
Longer possible fixed rate terms than most lenders
Offers loan repayment holiday to eligible borrowers

Drawbacks

Higher rates than other lenders
Stringent credit scoring requirements
Challenging for self-employed borrowers to secure a loan

Home Loan Products

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Home Loans Description

ANZ Standard Variable Home Loan

This is ANZ’s flexible home loan option with a standard variable interest rate. It’s an excellent choice if you want the option to make extra repayments or to be able to access those extra funds down the road as your life – and your financial goals – shift. You can also open an ANZ One offset account to reduce the amount of interest you’ll pay.

ANZ Fixed Home Loan

Make it easier to budget and stay on top of your finances with this fixed interest home loan. ANZ offers 1, 5, 7, and 10-year fixed rate terms with competitive rates, plus flexible repayment options such as an interest-only repayment period and the choice to repay weekly, fortnightly, or monthly. An optional offset account is available with the 1-year fixed rate option only.

ANZ Equity Manager

You can use this line of credit loan to pay for everyday expenses. You can also withdraw up to your approved limit when you need to. This funding, set to your low mortgage interest rate, can be reassuring to have as a source of backup funding. However, keep in mind, you’ll end up paying more interest the more you withdraw. ANZ’s Equity Manager can help you simplify your spending and make it easier to invest in a renovation of your home.

ANZ Simplicity Plus Home Loan

For a straightforward, variable home loan with a low-interest rate, ANZ Simplicity Plus is a great choice. You can still pay down your loan faster with features like no fees for additional repayments. You can also easily access those extra repayments with a redraw. But, you won’t have to pay a higher rate for features you probably wouldn’t use anyway.

ANZ Breakfree Package

With ANZ’s Standard Variable, Fixed Home Loan, and Equity Manager home loan products, you have the option of bundling your loan with your ANZ bank account and credit card for an annual fee of $395. This option can help you save on fees, be eligible for interest rate discounts, and pay less for both insurance premiums and ANZ Financial Planning services. If you may use some of ANZ’s other financial services, bundling can be a great way to get more out of your mortgage.

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