ANZ Home Loans Review for Australian Expats​

ANZ Home Loans Review

Here is everything you need to know about obtaining a home loan from ANZ Bank as an Australian Expat​. 

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 Expat Mortgages

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 Mortgage for Australian Expats?

  • 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 Expat 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.

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.

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.

ANZ Australian expat home loans offer several benefits tailored to the needs of Australians living abroad. Here are the major benefits you receive with an ANZ home loan.

  • Competitive Interest Rates: ANZ provides competitive interest rates for expat home loans, which can be similar to those offered to residents in Australia. This ensures that expats do not face a rate premium just because they are living overseas.

  • Flexible Income Assessment: ANZ understands the complexities of foreign income and offers flexible assessment criteria. They may discount foreign income to account for currency fluctuation risks but still consider the overall financial stability of the applicant​​.

  • High Loan-to-Value Ratio (LVR): ANZ allows for high LVRs, often up to 80%, making it easier for expats to secure a loan with a lower deposit. This is particularly beneficial for those who may not have substantial savings but have a stable income and good credit history​​.

  • No Need to Visit Australia: ANZ facilitates the mortgage process for expats without requiring them to physically visit Australia. This includes the ability to complete identity verification and other formalities online, which is convenient for those living abroad​​.

  • Industry Expertise: ANZ has experience dealing with expat clients and understands their unique needs and challenges. This expertise helps in providing tailored solutions that suit the specific circumstances of expatriates​​.

  • Comprehensive Services: ANZ offers a range of services that complement their mortgage products, including financial advice and support for managing properties in Australia while living overseas. This holistic approach helps expats manage their investments more effectively​​.

By leveraging these benefits, you can secure favourable mortgage terms and manage your property investments efficiently even while living abroad.

The ANZ expat loan application process involves several steps designed to accommodate the unique circumstances of expatriates. Here is an overview of the process.

  • Initial Consultation: Engage with a mortgage broker or ANZ directly to discuss your needs and assess your eligibility. This initial step helps to understand your financial situation and the specific requirements for an expat loan​​.

  • Pre-Approval: Apply for a loan pre-approval to get an indication of how much you can borrow. Pre-approvals typically take 4-6 weeks and are valid for 3-6 months. It’s recommended to start this process early to be prepared before making an offer on a property​​.

  • Document Preparation: Gather necessary documentation such as proof of income (e.g., pay slips, employment contracts, tax returns) and details of existing liabilities (e.g., loan statements, credit card bills)​​.

  • Loan Application: Submit a detailed loan application along with the required documentation. This can often be done online, which simplifies the process for expats who are not able to visit Australia​​.

  • Credit Assessment: ANZ will assess your application based on your income, employment stability, credit history, and the value of the property you intend to purchase. They may apply different criteria for foreign income, often discounting it to account for currency risks​​.

  • Approval and Offer: Once your application is assessed, ANZ will provide a loan offer if approved. This offer will outline the terms and conditions of the loan, including the interest rate, loan amount, and repayment schedule.

  • Settlement: Upon accepting the loan offer, the settlement process begins. This involves finalizing the purchase of the property, transferring funds, and completing all legal documentation. ANZ may coordinate with your solicitor or conveyancer to ensure a smooth settlement process.

  • Post-Settlement: After settlement, you will manage your loan repayments as per the agreed schedule. ANZ offers various tools and resources to help you manage your home loan from abroad.

ANZ offers several expat home loan options to cater to the unique needs of Australians living abroad.

  • Standard Variable Rate Loan: This loan type offers flexibility with features such as redraw facilities and the ability to make additional repayments without penalties. The interest rate can fluctuate with market conditions.

  • Fixed Rate Loan: Provides certainty in repayments by locking in an interest rate for a set period, usually 1 to 5 years. This helps in budgeting as the repayment amount remains constant during the fixed term.

  • Interest Only Loan: Suitable for investors, this loan type allows borrowers to pay only the interest for a specified period, usually up to 5 years, which can help with cash flow management.

  • Offset Account: ANZ offers loans with offset accounts, which help reduce the amount of interest paid. The balance in the offset account is subtracted from the loan principal when calculating interest, offering potential savings on interest payments.

  • Redraw Facility: This feature allows borrowers to access additional repayments they have made on their loan, providing flexibility if they need extra funds.

  • Line of Credit: ANZ provides a line of credit option that allows borrowers to access equity in their property up to an approved limit, useful for funding additional investments or managing cash flow.

These options include the best ANZ home loans for expats, designed to accommodate your financial situations and objectives, providing flexibility and features that can be tailored to individual needs​​.

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