The ANZ Simplicity PLUS Basic Home Loan offers a competitive variable interest rate and low fees.
Whether you’re buying your first home or simply looking to refinance an existing home loan, the ANZ Simplicity PLUS Basic Home Loan may suit you. The loan offers a competitive interest rate, and avoids fees by excluding features you may not need. This basic home loan has an ongoing competitive variable interest rate of , with flexible options like redraw and interest-only repayments to help you keep up with your changing needs.
|Product Name||ANZ Simplicity PLUS Home Loan|
|Interest Rate Type||Variable|
|Comp Rate^ (p.a.)|
|Minimum Loan Amount||$50,000|
|Maximum Loan Amount||$1,000,000|
|Maximum Loan Term||30 years|
|Maximum Insured LVR||95%|
|Mortgage Offset Account||No|
|Mortgage 100% Offset||No|
|Loan Redraw Facility||Yes|
|Split Loan Facility||Yes|
|Fixed Interest Option||No|
|Suitable for Investment||No|
|Available as equity loan/line of credit||No|
|Repayment Type||Principal & Interest and Interest Only Options|
|Lender's Legal Fee||$0|
|Ongoing Fees||$0 p.a.|
- You can borrow up to 95% of the property value.
- You can make extra payments without penalty.
- You can withdraw additional payments through the redraw facility at no cost.
- There is a valuation fee of $150.
- A settlement fee of $160 charged when setting up this loan.
- A discharge fee of $160 applies when you pay off your loan in full.
Features of an ANZ Simplicity PLUS Home Loan
- Application fee. Save $600 on application fee. $0 application fee for a limited time on request (normally $600).
- Extra Repayments. The ANZ Simplicity PLUS Home Loan offers fee-free extra repayments on your home loan, which can save you interest charges and reduce the length of your loan.
- Interest-only repayments option. This allows the borrower to pay only the interest portion of their home loan for up to 10 years. This feature is popular with property investors.
- Repayment options. ANZ offers home loan customers the choice of weekly, monthly or fortnightly repayments on their Simplicity home loan.
- Redraw. This fee-free redraw facility allows borrowers to access any of the extra funds they've deposited into their home loan. There is currently no minimum redraw amount for eligible home loans and residential investment loans.
- Construction. You can build a new home or engage major structural renovations, and use the drawdown feature of the home loan to make payments to your builder. You have up to 12 months to build your home.
- Maximum LVR. The ANZ Simplicity PLUS Home Loan has a maximum loan to value ratio of 80% if you wish to avoid attracting lenders mortgage insurance (LMI). If you wish to borrow more you can borrow up to 90% if you're a new customer, or 95% if you're an eligible existing ANZ customer.
- Renegotiation fee: This fee is charged if you're renegotiating or converting an existing ANZ home or residential investment loan. The fee is $200-$350, but is currently being waived on request.
- Application fee: $600. $0 application fee for a limited time on request.
- Valuation fee: $150
- Mortgage transfer fee:
- Settlement fee: $160
- Exit fee: $160
How to apply for the ANZ Simplicity PLUS Basic Home Loan
If you're interested in this loan you can head to ANZ's homepage where you can complete an online enquiry form. You will need to provide ANZ with a few details about your situation, including:
- How much you want to borrow
- The amount you have saved for a deposit
- Whether you are co-borrowing
From there, an ANZ home loan expert will be in touch with you to guide you through the process and ensure this loan will suit your needs. If you have any questions about this loan, please click 'ask a question'.
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ANZ Simplicity PLUS Home Loan Interest Rate History vs RBA Cash Rate Graph
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