ANZ Breakfree Home Loan Package Fixed

Lock in a fixed rate and enjoy repayment security on your home loan.

The ANZ Breakfree Home Loan Package Fixed gives you the choice of locking your rate over a variety of periods, from as little as 1 year to as many as 10. It lets you borrow up to 90% of your new home's value and combines your loan, bank account and credit card into one convenient package giving you easy manageability of your finances. As a result of moving your banking over to ANZ, you'll be rewarded with rate discounts and discounts on some fees.

No reviews yet. Write a review

We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!

Avatar

Review by


Marc Terrano is a lead publisher and growth marketer at Finder. He has previously worked at Finder as a publisher for frequent flyer points and home loans, and as a writer, podcast host and content marketer. Marc has a Bachelor of Communications (Journalism) from the University of Technology Sydney. He’s passionate about creating honest and simple reviews and comparisons to help everyone get value for money.

Expert review

The ANZ Breakfree Home Loan Package Fixed is a full documentation loan, meaning you must be able to supply a full range of income evidence including payslips, bank statements and other supporting documents.

This loan is a package home loan. It offers a rate discount and fee waivers in exchange for you moving your banking to ANZ and also paying an annual fee.

About this loan

What are the features and benefits of the ANZ Breakfree Home Loan Package Fixed Rate?

  • Loan-to-Value Ratio (LVR). You can borrow up to 90% of the property's value with Lender's Mortgage Insurance (LMI), or 80% without LMI. The minimum amount you may borrow with these terms and rates is $150,000.
  • Loan terms. For the fixed rate portion of this loan you can choose terms between 1 and 5 years, or a 7 or 10-year term. The overall loan can be spread out over 30 years.
  • Repayment frequency. You have the choice of weekly, fortnightly or monthly repayments, enabling you to match your home loan to your salary.
  • Repayment types. You are allowed the option of interest-only repayments for up to 5 years with this loan if you're an owner occupier, or 10 years if you're an investor. You may also make additional repayments during the fixed rate period so long as they total less than 5% of the loan or $5,000 during the fixed term, whichever is less. You could incur an early repayment cost if you exceed these amounts.
  • Redraw. Once your loan reverts to the variable rate you are able to redraw any extra repayments you have made.
  • Offset account. A 100% offset account is only available if you choose the 1-year fixed rate option. An offset account is a linked transaction account, in which any funds deposited into it can offset the interest on your home loan, saving you over the course of your home loan.

What fees and charges come with this loan?

  • Annual fee. A $395 charge will be added to your account each year that your loan is open.
  • Rate lock fee (optional). $750. This fee is charged in the event that you wish to lock in the advertised rate at the time of application for up to 90 days. This guarantees you will receive the advertised rate you apply for, rather than the possibility of a less favourable rate in the time taken for your loan to settle.

Fee savings as part of the Breakfree package

The Breakfree package waives a number of fees, including:

  • Loan approval fee. $600. This fee is waived as part of the Breakfree Package. ANZ usually charges it for the preparation of your loan paperwork.
  • The ANZ One Offset account fee. $10 per month. This account is only offered on the 1-year fixed term.
  • ANZ Frequent Flyer Platinum credit card. This includes a $240 annual account fee and a $55 rewards program services fee.

How to apply

To apply for the Breakfree Home Loan Package, click the green "Go to site" buttons or fill out the form on the right of this page. Clicking the "Go to site" button will securely take you to the ANZ website where you can fill in some details about you and the property. This process will take around two minutes, after which an ANZ mortgage specialist will give you a call back at a convenient time to talk through your options.

Home Loan Offers

Important Information*

Ask an expert

To ask a question simply log in via your email or create an account.

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.

2 Comments

    Default Gravatar
    Wei
    January 30, 2018

    Hi, I was wondering the ANZ 2 year fixed rate is 3.88% or 3.99%? Thanks

      Avatarfinder Customer Care
      Jonathan
      February 22, 2018

      Hi Wei, for this product the two year fixed rate is:

      -3.99% for 2 Year Fixed (Owner Occupier, P&I)

      Thanks,

      Jonathan

Go to site