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 control over their budget and eliminates any rate rise surprises.
ANZ Fixed Rate Home Loan: Overview
|Product Name||ANZ Fixed Rate Home Loan|
|Interest Rate Type||Fixed|
|Comp Rate^ (p.a.)|
|Minimum Loan Amount||$20,000|
|Maximum Loan Amount||$10,000,000|
|Minimum Loan Term||1 year|
|Maximum Loan Term||30 years|
|Maximum Insured LVR||95%|
|Mortgage Offset Account||Yes|
|Mortgage 100% Offset||Yes|
|Loan Redraw Facility||No|
|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||$10 monthly ($120 p.a.)|
- Your interest rate won't change over the course of the fixed term.
- Interest only options available for a period of up to 10 years.
- The ability to split your loan in a fixed portion and a variable portion.
- Full offset available for the 1 year fixed rate product.
- $600 application fee
- $150 valuation fee
- $160 settlement fee
- $10 per month account fee
Features 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. This is a great option for people trying to reduce their payments and free up some extra cash, and is ideal for investors who are waiting to sell the property and take advantage of capital gains.
- 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. Any funds you have in this account will reduce the mortgage principal, and subsequently any interest charges. 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 95% of the property's value with LMI.
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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ANZ Fixed Rate Home Loan Review 2017 Interest Rate History vs RBA Cash Rate Graph
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