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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 Equity Manager is a variable rate line of credit. This means the interest rate you pay can increase or decrease as the official cash rate does. This loan comes with three different borrowing power amounts:

  • $150,000 - $249,999
  • $250,000 - $699,999
  • $700,000

The Equity Manager allows you to borrow a maximum of 80% of the value of the property being offered as security, although lender's mortgage insurance will be payable on amounts over 80%.

About this loan

What are the features and benefits of the ANZ Equity Manager?

  • You can access funds at any time. The ANZ Equity Manager loan can be used as an everyday transaction account. This means you can access funds up to the approved credit limit at any time using the phone or online. Additionally you can access funds through BPAY, ATMs, EFTPOS and cheque facilities at any ANZ branch.
  • No set repayment time. Because there's no set repayment time on an ANZ Equity Manager line of credit account, you're able to pay the loan off at a pace that suits you and your financial situation. In addition, there is no set schedule for making repayments using the Equity Manager, so you choose when you want to make your repayments.
  • No penalties for extra repayments. There are no fees or penalties for making any extra repayments on an ANZ Equity Manager account. This means you can pay the home loan off as fast as you like without having to worry about incurring any fees or charges.
  • Minimum and maximum amounts. This line of credit account can be used to purchase residential property with a value between $20,000 and $10,000,000 and can be used up to a period of 30 years. You can borrow a maximum of 80% of the property's value without lenders mortgage insurance (LMI) and up to 80% of the property's value with LMI.
  • Interest-only. You can free up extra funds by making interest-only payments on your ANZ Equity Manager for up to 10 years.
  • Split your loan. You can split the ANZ Equity Manager with other loans up to four times.

What fees and charges come with this loan?

  • Annual fee. A $150 charge will be added to your account each year that your loan is open.
  • Exit fee. $160. A discharge fee applies if you close your account with ANZ.
  • Lender's mortgage insurance (LMI). LMI covers the lender in the event you default on your mortgage. It can be avoided if you don't borrow over 80% of the value of the property being used as security.
  • Application fee. The application fee of $600 can be avoided if you sign up to ANZs Breakfree Package. This packages your home loan, bank account and credit card together for an annual fee of $150. It also waives fees for renegotiation, monthly account fees on one ANZ transaction account and the annual fees on one ANZ credit card account. The Breakfree also gives you a discount off your variable rate, although this depends on how much you decide to borrow.

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    Default Gravatar
    November 18, 2015

    To whom it may concern,

    How do I get the historical interest rates for the ANZ break free equity manager account?


      Default Gravatar
      November 19, 2015

      Hi JB,

      Thanks for your enquiry.

      I’ve sent you an email to follow up with this.


    Default Gravatar
    February 9, 2015

    I already have an equity home loan of $40,000.00
    I would like to increase this to $80,000.00. what is the process?

      Avatarfinder Customer Care
      February 10, 2015

      Hi Michelle,

      Thanks for your question.

      Please speak to your ANZ home loan consultant, or get in touch with a customer service representative at ANZ to organise this.


    Default Gravatar
    May 2, 2014

    I just submitted an application through mortgage choice for the ANZ equity manager loan and wanted to know how long or whats the longest period does it take to find out if I’m approved?

      Avatarfinder Customer Care
      May 5, 2014

      Hi Adam,
      thanks for the question.

      According to the ANZ website, once ANZ have all the required documentation, it usually takes up to 48 hours to receive a decision.

      I hope this helps,

    Default Gravatar
    January 10, 2014

    My Husband and I have a joint ANZ Equity Manager loan for an extremely small amount on our home. If one of us should die, would the loan be called in or could the surviving party continue the loan. I can’t find anything in their literature.

      Avatarfinder Customer Care
      January 13, 2014

      Hi Jean,

      Thanks for your comment.

      The ANZ Equity Manager terms and conditions state that, “If a joint account holder dies, we will treat the account and the balance of the account as being owned by the surviving joint account holder or holders with effect from the time of death.”


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