Bundle your mortgage, bank account and credit card together to save on interest and fees
Taking out a home loan can make your finances a bit difficult to manage. Why not package them all together with the Breakfree Home Loan Package and remove the hassle. You will also get rewarded with a lower interest rate and other benefits for doing so.
If you would prefer a fixed rate you can opt for the ANZ Breakfree Package Home Loan Fixed Rate.
|Product Name||ANZ Breakfree Home Loan Package Variable|
|Interest Rate Type||Variable|
|Comp Rate^ (p.a.)|
|Minimum Loan Amount||$150,000|
|Maximum Loan Amount||$10,000,000|
|Maximum Loan Term||30 years|
|Maximum Insured LVR||95%|
|Mortgage Offset Account||Yes|
|Mortgage 100% Offset||Yes|
|Loan Redraw Facility||Yes|
|Split Loan Facility||Yes|
|Fixed Interest Option||Yes|
|Suitable for Investment||Yes|
|Available as equity loan/line of credit||No|
|Repayment Type||Principal & Interest and Interest Only Options|
|Lender's Legal Fee||$0|
|Ongoing Fees||$395 p.a.|
|Early Termination Fee||$0|
- There is $0 application fees payable with this package.
- You get discounts off the advertised variable and fixed interest rates with this package.
- You can link a 100% offset account to this home loan.
- There is a $395 annual fee.
- A discharge fee of $160 applies when you close your home loan account.
Details to consider about the ANZ Breakfree Home Loan Package
The ANZ Breakfree Home Loan Package is available to owner-occupiers and investors. It's also available to those refinancing an existing home loan.
Features of the ANZ Breakfree Home Loan Package
- Interest rate discounts. You can receive discounts of up to 0.90%p.a. on the standard variable rate of your loan. If you take out a loan amount between $250,000 and $499,999 you'll receive a discount of 0.80%p.a. on the rate, and if you borrow $500,000 or above you'll receive a 0.90%p.a. discount.
- Loan-to-value ratio (LVR). Borrow up to 80% of the property’s value without paying lenders mortgage insurance (LMI). You can borrow up to 95% of the property's value with this loan, but this will affect the interest rate, and you will have to pay LMI.
- Loan amount and term. This loan is available to those wishing to borrow over $150,000 for up to 30 years.
- 100% offset account. If you are eligible, you can link an ANZ One mortgage offset account. Funds in the account are offset against the balance on your mortgage account, allowing you to pay off your home loan sooner.
- Split your home loan. A split loan offers the flexible features of a variable rate loan, such as redrawing on extra repayments, and the certainty of a fixed interest rate. You are free to split your loan into a combination of different fixed and variable rate loan products.
- Interest-only repayments. This repayment option is available for loans for up to 10 years.
- Flexible repayment frequency. Repayments can be made on a weekly, fortnightly or monthly basis. It may suit you to schedule your repayments with your pay cycle.
- Extra repayments. This means that lump sums may be deposited into your loan account to shorten the length of the loan. This feature often appeals to borrowers who may have surplus funds, such as work bonuses or tax refunds, that they’d like to use to save on home loan interest.
- Redraw facility. Additional payments are easily accessible when needed, with a minimum redraw amount of $2,000.
- Discounts on other ANZ banking products. The Breakfree Home Loan Package allows you to package other banking products from ANZ. This offers a range of benefits such as interest rate discounts on personal loans, bonus interest on savings accounts and waivers on loan approval fees and eligible credit card annual fees.
The ANZ Breakfree Package includes a number of fee discounts and waivers, including the application fee. Below are some fees that are still charged:
- Annual package fee: $395. This fee is charged to maintain your Breakfree Package.
- Settlement fee: $0. This is the fee for the set up of your loan accounts.
Are there any exit fees with the ANZ Breakfree Package?
There's a discharge fee of $160 which is charged when you close your home loan account. Also keep in mind that if you take out a fixed rate Breakfree Package and exit it before the fixed term ends you'll have to pay break costs.
The Breakfree Package will waive the annual fees on one eligible credit card and will also waive the additional cardholder fee. The eligible credit cards are currently:
More about the Black cards available with the ANZ Breakfree Package
The ANZ Rewards Black and Frequent Flyer Black are both eligible for the annual fee waiver of the Breakfree Package:
- The Rewards Black Credit Card is an uncapped credit card that earns up to two ANZ Rewards points per dollar spent. ANZ Rewards is a program that offers travel rewards, gift cards, technology and much more.
- The Frequent Flyer Black Credit Card is also uncapped but earns Qantas Points. With this card you can earn up to one Qantas Point per dollar spent. The Qantas Frequent Flyer program allows you to redeem points for flights with Qantas and partner airlines as well as for gift cards and much more.
How to apply for this product
If you would like to apply for this home loan, please click on the green 'Go to site' or 'Enquire' button to be redirected to ANZ directly, or a form to contact a mortgage broker.
You need to hold, or apply for, one eligible ANZ transaction account and be approved for at least one eligible loan product that has a total loan balance or credit limit of at least $150,000. You'll also need to be approved for an eligible ANZ credit card and be able to pay the Breakfree Package annual fee when it's due.
You don't need to hold an existing credit card or transaction account with ANZ to eligible. If you'd like to apply for the Breakfree Package but don't hold any ANZ products, you can apply for all the bundled products during your application.
What details do I need to provide?
You'll need to provide the following:
- General information about the purpose of your home loan, whether you've found a property or not and the purchase price if applicable.
- Details about your home loan, such as how much you want to borrow and if you're refinancing.
- Personal information along with contact details.
Enquire about this home loan