The ANZ Simplicity PLUS Home Loan offers a low variable interest rate, flexible repayments and no annual fees.
The ANZ Simplicity PLUS Home Loan keeps things simple, with competitive rates, flexible features and minimal fees. may be an option to consider. This mortgage has variable interest rates for investors and home buyers, plus the option to make interest-only repayments.
|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|
|Minimum Loan Term||1 year|
|Maximum Loan Term||30 years|
|Maximum Insured LVR||90%|
|Mortgage Offset Account||No|
|Mortgage 100% Offset||No|
|Loan Redraw Facility||Yes|
|Split Loan Facility||Yes|
|Fixed Interest Option||No|
|Suitable for Investment||Yes|
|Available as equity loan/line of credit||No|
|Repayment Type||Principal & Interest and Interest Only Options|
|Ongoing Fees||$0 p.a.|
- Make extra payments without penalty
- Withdraw additional payments through the redraw facility
- Minimal fees
- There is a minimum redraw amount of $2,000
Features of an ANZ Simplicity PLUS Home Loan
- 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 5 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 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 a minimum redraw amount of $2,000.
- Construction. You can build a new home or carry out 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). You can borrow up to 90% but this may mean LMI costs and a higher interest rate.
The ANZ Simplicity PLUS home loan has very few fees, and some are waived as part of a special offer:
- 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: Usually $600. The application fee for this loan is now $0 for a limited time on request.
How to apply for the ANZ Simplicity PLUS Home Loan
If you're interested in this loan you can press the green button and leave your details. To help you in the application process you should work out:
- How much you want to borrow
- The amount you have saved for a deposit
- Whether you are co-borrowing
It's also worth checking your credit score before speaking to a mortgage specialist. You can get a free credit report here.