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A fixed rate home loan is best suited to customers who prefer a repayment amount that does not fluctuate and who are unlikely to want to make large lump-sum payments within the fixed rate term.
A variable rate home loan will suit customers who often have extra funds available that they’d like to put towards their home loan. You can make additional payments any time you like – plus you can ’redraw’ any extra money you’ve paid on your loan by using ANZ Flexidraw. The minimum redraw amount is $1,000 and a redraw fee applies A Flexiplus home loan provides the convenience and power of an all-in-one home loan and transaction account. It provides the ability to draw funds up to an agreed limit at any time and make payments whenever you like for as much as you like. For the best of all worlds, customers will often split their lending on a combination of the above products. Find out more about our home loan products.
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By putting some of your lending on fixed and some on variable, you can take advantage of the flexibility and security that both loan types offer.
The fixed portion of your home loan will offer you interest rate and repayment security for the fixed term. The variable portion of your loan will give you repayment flexibility. It is also possible to split your loan across two or more fixed terms. If you’d like more information on ANZ split home loans, contact an ANZ Mobile Mortgage Manager or visit any ANZ branch.
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Generally, a fixed rate home loan does not offer the same level of flexibility as a variable rate loan. Most variable rate home loans allow you to make additional payments at any time, without incurring additional costs. A fixed rate loan on the other hand restricts the amount of additional repayments you are able to make. In each year of your fixed interest rate period, you can make additional repayments of up to 5% of the loan amount at the start of the current fixed rate term or a maximum of $10,000, whichever is lesser, without incurring an early repayment fee. If your repayments exceed these limits, an early repayment fee may apply.
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You can either call us on or drop in to your nearest ANZ branch and one of our home loan specialists will be happy to assist you with your query. Alternatively, if you would like us to come to you, get in touch with an ANZ Mobile Mortgage Manager. If your inquiry is specifically related to residential investments, you may like to talk to an ANZ Residential Investment Lending Specialist.
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We can lend up to 80% of a property’s value. Note that the maximum amount you can borrow depends on the property’s location, the property type, the home loan type and other ANZ lending criteria.
In very exceptional circumstances, we may lend over 80% of the property’s value. A low equity premium on a graduated scale will apply (the fee range is 0.20% to 1.25% of loan amount) and a registered valuer’s report is required. To find out more, visit any ANZ branch and talk to one of our ANZ home loan specialists. Or alternatively, phone an ANZ Mobile Mortgage Manager who will come to you.
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To apply for a loan visit any ANZ branch, or contact an ANZ Mobile Mortgage Manager who will come to you. As long as we have sufficient information, we can usually approve your loan on the spot.
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