ANZ Fixed Rate Home Loan Review

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Lock in a competitive fixed rate with one of Australia's largest and most trusted banks

Purchasing a property is a big investment and you want to be sure you can fund the purchase both now and into the future - especially if rates rise. ANZ allows you to lock in your interest rate for a fixed term, which in turn locks in your mortgage repayments. A fixed rate mortgage gives borrowers more certainty in their budget and eliminates any rate rise surprises.

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About this loan

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

If you want the certainty of home loan repayments that won't change from month to month, then you may want to consider an ANZ fixed rate home loan. ANZ offers the following features on their fixed-rate home loan:

  • Flexibility with repayments. Payments can be made weekly, fortnightly or monthly, allowing you to structure your repayments to match your pay. In addition, borrowers can make extra repayments above the required minimum mortgage repayment without incurring any fees, provided you stay below the yearly amount (referred to as the tolerance amount). The tolerance amount is the lesser of 5% of the loan amount at the start of the fixed rate period, or $5,000. This can be a great option if you happen to come across some extra money and would like to reduce your debt.
  • Interest-only repayments. The ANZ fixed rate home loan can be used as an interest-only loan for up to 10 years, meaning that you only pay the interest portion of any payment.
  • Split rate. An ANZ fixed rate product gives borrowers the option of splitting the loan between a fixed and variable rate. This gives you the security of having a fixed rate and the flexibility of having a variable home loan.
  • Full offset facility (for one year fixed rate only). If you have a linked ANZ account, you can use this account as a 100% offset account, reducing the amount on which interest is calculated. This is only available if you fix a rate for one year.
  • Eligibility. This loan can be used by any investor or owner occupier who would like to purchase a property between $20,000 and $10,000,000. With an ANZ fixed home loan you can borrow up to 80% of the property's value without paying lenders mortgage insurance (LMI) or up to 90% of the property's value with LMI.

What fees and charges come with this loan?

  • Establishment fee: $600. This fee is non-refundable and goes towards setting up your ANZ Fixed Loan.
  • Settlement fee: $160. This fee is to cover the processing and administration costs as the loan is settled.
  • Monthly fee: $10. This fee is charged for the ongoing maintenance of your loan and any affiliated accounts.

How to apply

To find out more about the features of the ANZ fixed home loan, click on the enquire buttons on this page.

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14 Comments

    Default Gravatar
    Stuart
    May 26, 2015

    Could you please tell what day of the month does the ANZ usually adjust interest rates after the monthly RBA announcement

      Default Gravatar
      Belinda
      May 29, 2015

      Hi Stuart,

      Thanks for your enquiry.

      This month, the ANZ standard variable interest rate adjustment became effective on the 8th of May, 2015.

      Thanks,
      Belinda

      Default Gravatar
      Stuart
      May 29, 2015

      Thanks Belinda
      Could you please advise when the monthly adjustment is likely to be made in June as we have a interest only loan renewal to renegotiate around the 18th.

      Default Gravatar
      Belinda
      June 1, 2015

      Hi Stuart,

      Thanks for reaching out to finder.com.au.

      ANZ generally reviews its standard variable home loan interest rate monthly by the Friday following the Reserve Bank of Australia meeting.

      Thanks,
      Belinda

    Default Gravatar
    Debra
    March 15, 2015

    I am currently an ANZ loan holder with approx. a year left on my fixed loan. I am currently paying 5.52% on my loan which is too high and I am looking to refinance. Can I switch over to another loan with ANZ offering a lower interest rate or will I need to look elsewhere?

      Avatarfinder Customer Care
      Shirley
      March 16, 2015

      Hi Debra,

      Thanks for your question.

      You can definitely switch to another loan with ANZ offering a lower interest rate, given that you’re eligible. Typically borrowers refinance with another lender when their original lender is not willing to offer them a new loan that suits their current needs.

      Cheers,
      Shirley

    Default Gravatar
    Jim
    March 3, 2015

    Hi,
    I am thinking of applying for the 5 years fixed interest , principal and interest mortgage. Will I be able to use a 100% offset account for the 5 years fixed.

    Thanks,
    Jim

      Avatarfinder Customer Care
      Shirley
      March 4, 2015

      Hi Jim,

      Thanks for your question.

      Unfortunately the 100% offset account is available for one year fixed rate only. If you would like to discuss your eligibility or options regarding this, please get in touch with ANZ directly.

      Cheers,
      Shirley

    Default Gravatar
    shaun
    February 16, 2015

    Hi i fixed my home loan for three years what would the penalty if i wanted to sell my house

      Avatarfinder Customer Care
      Marc
      February 16, 2015

      Hi Shaun,

      Thanks for the question.

      Quite a few factors will go into how much it will cost you to leave your fixed rate home loan. We have listed them in greater depth in our guide to breaking a fixed home loan.

      I hope this helps,
      Marc.

    Default Gravatar
    Sandra
    December 2, 2014

    what additional repayments can I make on an ANZ fixed rate loan without any penalties?

      Avatarfinder Customer Care
      Shirley
      December 2, 2014

      Hi Sandra,

      Thanks for your question.

      According to ANZ, “you can make extra payments of up to 5% of the loan balance(calculated at the beginning of the fixed rate term) or $5,000, whichever is lesser. These payments can be in the form of larger regular repayments or lump sums and are at no additional cost to you.

      I hope this helps,
      Shirley

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