ANZ was founded in Melbourne in the 1830s, and today makes up one of Australia’s big four banks, alongside Commonwealth Bank, NAB and Westpac.
ANZ offers an extensive range of home loan options, including first home buyer loans, investment mortgages, reverse mortgages and low-doc home loans. ANZ employs approximately 46,000 staff who provide consumer and corporate banking services to customers throughout Australia and worldwide. The bank has over 550,000 shareholders with the majority being domestic shareholders.
ANZ home loans rates
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- Variety of home loan products to choose from.
- Package deals available to bundle other financial products.
- Comprehensive customer service offering.
- Moderate to high interest rates.
- Some products have moderate to high fees.
- Higher rates for some types of customers.
Home loan customers at ANZ are able to contact that bank on a range of specialised hotlines depending on their needs. This includes a direct line to the home loans department, a customer service line specifically for home loan customers and a financial hardship hotline that can assist you to restructure repayments should you find yourself in financial difficulties. Customers are also able to live chat with ANZ staff online to answer pressing queries or, if they prefer, talk to a staff member face to face at a branch.
- Customer service (phone, email, branch)
- Mobile app
- Online banking
- Live Chat
- Mobile banking staff
How to Apply
ANZ provides potential customers with multiple ways of applying for a home loan. This includes calling the bank, applying online, visiting a branch or organising for an ANZ representative to come to you. Before applying for a home loan it is advisable to think about how much money you could conceivably borrow given your financial situation and income. You will also need to provide documentation when applying for a home loan. This will include:
- Personal identification material.
- Proof of income – whether you are self-employed or work for an employer.
- Proof of other income, including rental.
- Information regarding your current debts, liabilities and assets.
- Personal insurance documents.
For refinancers you will also have to provide you home loan statements for the past three months and a current payout quote for the loan you wish to refinance.
About ANZ home loans
ANZ home loans cater to a wide range of mortgage customers. Types of home loans offered by ANZ include:
- Owner-occupier home loans
- Investor home loans
- Low-doc home loans
- Bridging loans
- Reverse mortgages
ANZ home loan borrowers can also choose from a range of interest rate options:
- Principal and interest
- Fixed interest rate
- Variable interest rate
- Split loans (fixed and variable rates)
Borrowers who bundle their home loan with an ANZ transaction account and credit card can take advantage of interest rate discounts, waived fees and a range of other features.
Some ANZ home loans also come with introductory interest rate offers and interest rate discounts.
ANZ home loans have a maximum loan term of 30 years. Some loans allow unlimited extra repayments, while others allow extra repayments with restrictions.
ANZ home loan rates
ANZ home loan rates vary depending on the product but tend to range between moderately low and moderately high. As an established brand and one of Australia’s biggest banks, ANZ doesn’t have to undercut competitors with low rates, so interest rates tend to sit in the mid-range.
As is the case for many home loan lenders, lower interest rates are afforded to owner-occupiers than to investors, while borrowers paying back principal and interest get lower interest rates than those paying back interest only. Likewise, borrowers with lower LVRs (loan-to-value ratios) typically get lower interest rates than borrowers with higher LVRs.
ANZ also offers different interest rates depending on whether the borrower applies for a variable mortgage, a one-year fixed-rate mortgage, two-year fixed-rate mortgage, three-year fixed rate-mortgage or five-year fixed rate mortgage.
ANZ home loans review
In a varied and ever-changing mortgage market, ANZ has the advantage of being established and well-known – so customers tend to see the bank as being a reliable option for home loans.
As you might expect from one of the big four banks, ANZ offers home loan products to suit a wide range of borrowers, ranging from basic owner-occupier home loans to more specialist loans including reverse mortgages, bridging loans and others. It is worth noting that ANZ does not offer SMSF loans unlike some other major lenders.
While ANZ offers convenience through its extensive network of branches and customer service options, it isn’t the cheapest option on the market for home loans. Interest rates tend to range from moderately low to moderately high, while its fees typically range from very low to high.
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