ANZ Home Loans for Australian Expats
As one of the largest banking groups in New Zealand and the Pacific, ANZ home loans offer several benefits for expats and overseas borrowers.
Find out if ANZ expat home loans are the right option for you.
- Borrow up to 80% of the property value
- Get home loan packages with additional benefits and features
- Access lower interest rates and free offset accounts
ANZ Home Loans Review
Here is everything you need to know about obtaining a home loan from ANZ Bank as an Australian Expat.
Standard Variable
Fixed Loan
Simplicity Plus
One Offset
ANZ’s standard variable home loan gives you the flexibility to react to any economic changes. Furthermore, borrowers also have the option to pay to make extra repayments and pay off the loan earlier.
You can do this by utilising the One Offset account and redraw facility, allowing you to choose the loan term and repayment frequency.
As with most variable home loans, interest rates will be subject to change throughout the lifetime of the loan. The minimum loan amount is $20,000, with a maximum loan term of 30 years with no ongoing fees. It includes loan approval or loan administration charges. However, other fees may apply, such as late payment and settlement fees.
*Note that interest rates apply on the day you draw your loan. Not at the time of application. Thus, they are subject to change.
With the fixed loan package, expats can secure a stable interest rate that will not change throughout the loan's lifetime. By the end of your fixed-rate term, borrowers can stay with the variable rate or fix the rate again for another period.
The minimum loan amount is $20,000, with a maximum loan term of 30 years. Further, the borrower would need to pay an annual fee of $395 in advance. However, no loan administration charges will apply.
Australian property investors from overseas can access a 5-year fixed interest rate of 6.64%.
*Note that interest rates apply on the day you draw your loan. Not at the time of application. Thus, they are subject to change.
The Simplicity Plus package gives you a competitive variable rate with only the basic features of a home loan. It allows ANZ customers to access a lower variable rate than the Standard Variable Home Loan Package but without waived fees.
The minimum loan amount is $50,000, and you do not need to pay ongoing home loan fees. This package allows you to make extra repayments and redraw those funds if needed. However, this product has no offset account.
Pay off your home loan sooner by making extra repayments on ANZ Simplicity PLUS.
The ANZ One Offset Account helps reduce the interest you pay on your home loan. Your offset account links to your ANZ Standard Variable or Fixed loan and can be used to 'offset' the amount you owe on the loan.
You'll only pay interest on the difference when you offset your loan balance with the funds in your ANZ One account. You can use 100% funds in your offset account.
For example, if your total loan balance is $350,000 and you have an offset account of $25,000, you'll only have to pay interest on $325,000. Doing this will save you an estimated $75,000 on your total mortgage.
If you’re struggling to decide which loan fits your financial situation best, feel free to speak with us today.
Benefits of Choosing ANZ Home Loans
Before choosing this bank, consider the advantages and the challenges of their services.
| Pros | Cons |
|---|---|
Australian expats and overseas residents can borrow up to 80% of the property value. | Foreign income applicants will meet more challenging servicing assessments. |
Sometimes offers cashback and rebates for refinancing purposes. | Does not accept foreign income from rent. |
Most foreign currency income is accepted. | Australian tax rates apply to all income. |
Has several features attached to its home loan packages. |
Allow us to find you the perfect home loan.
Apply online to get expert recommendations with real interest rates and repayments.
Features of ANZ Home Loans
What mortgage features and options are available for Australian expats living overseas?
| Feature | Details |
|---|---|
Deposit Size | Prefers a home loan deposit of 20% or more when applying for a home loan. |
Offset Account | A transaction account linked to home or investment loans. You can use this account to offset the amount you owe on the loan, and the bank will only charge the interest in the difference. |
Repayment Options | Depending on your loan type, you can make repayments weekly, fortnightly or monthly via their Internet Banking services. You can also make interest-only repayments for an agreed term. |
Package Benefits | Access lower interest rates, free offset accounts, credit cards, and benefit from waived fees. |
No Ongoing Fees | Only pay for the features you choose to use without being charged any setup or ongoing fees. |
Expat Information | Available for Australian expats living overseas. Can also assist with loan applications in various foreign currencies. |
Facts about ANZ Bank
As one of the biggest Australian lenders, ANZ Bank has many home loan packages. Besides essential home loans, ANZ also provides mortgage packages with extra benefits.
The bank offers a more accessible fee structure that waives any ongoing mortgage fees. It includes loan approval and administration fees.
It supports foreign currencies as part of your home loan application. However, you may meet more challenging assessment criteria.
How Do I Apply For an ANZ Expat Mortgage?
You will need to meet the required criteria and provide the requested documents to qualify for a home loan with the bank.
Who is Eligible For an ANZ Expat Mortgage?
- Be over the age of 18.
- Be an Australian or New Zealand citizen or permanent resident.
What Documents Do I Need to Provide?
You will need to provide the following documents.
Form of Identification
Passport, driver's licence, birth certificate, etc.
Statement of Income
Bank account statements showing three months of salary income.
Financial Position
Assets like shares and vehicles, such as credit card limits and living expenses.
Property Details
Mortgage and rental income statements.
If you need help applying for a home loan at ANZ, you can speak with one of us today.
Allow us to find you the perfect home loan.
Apply online to get expert recommendations with real interest rates and repayments.
Other Related Products From ANZ
Unfortunately, the Breakfree Package review is unavailable because the bank discontinued the package. However, here are other options that you can still apply for.
Bridging Loan For Expats
If you want to buy a property before selling an existing one, then the Bridging Finance option allows you to do this. The loan term for this product is six months (12 months if your property is under construction), and standard variable interest rates apply.
Supplementary Loan For Expats
If you already have a home loan with the bank and have equity in that property, then you can tap into that equity with a supplementary loan. The maximum loan term is ten years, but you could negotiate with ANZ should you need to extend the term.
Construction Loan For Expats
If you’re looking to build a home or renovate an existing building, then a construction loan may be what you need. Build your home with the flexibility to draw down funds to pay at key stages of the construction process.
Other Australian Lender Reviews
Allow us to find you the perfect home loan.
Apply online to get expert recommendations with real interest rates and repayments.
FAQs About ANZ Home Loans
How do I compare ANZ home loans?
Most ANZ home loans are calculated daily and charged monthly. ANZ offers many home loan products, such as its Standard Variable Home Loan and Simplicity Plus. Borrowers can pick a package and benefit from fee waivers and discounted offers on credit cards.
What is the interest rate at ANZ Bank?
The Investment ANZ Standard Variable home loans, the discounted principal & interest rate is from 5.99% p.a. On fixed-rate home loans, a 1-year fixed will have an interest rate of 5.49% and a 5-year fixed will have an interest rate of 6.39%. Generally, ANZ Simplicity Plus home loans can range up to 4.94%. Additionally, you can refer to our Mortgage Rates page for more information.
How do I connect my ANZ home loan to online banking?
You can connect your account in three ways if you have access to ANZ’s online banking services. Firstly, you can use the ANZ link account function. It will take 24-48 hours. Secondly, contact the ANZ Internet Banking team directly via phone or email. Thirdly, and most commonly, you can visit your local ANZ branch and link your accounts immediately.
If you’re having trouble linking your account, we recommend contacting the support team for help.
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