ANZ Interest-in-Advance Residential Investment Loan for property investors
ANZ Interest-in-Advance Residential Investment Loan for property investors
This loan can benefit you in a number of ways. By paying interest up front for a fixed term this loan offers you a lower rate than our standard ANZ Fixed Rate loan. It also offers flexibility with regard to repayments frequency and fixed rate terms. Plus there are no ongoing fees. Taxation benefits may also apply via negative gearing. We recommend you discuss this with your Accountant or Financial Advisor.
You can even make additional repayments up to a set tolerance* each year of the fixed rate period, without triggering an early repayment cost calculation.
Principal repayments are deferred on this loan until the fixed rate period has ended. Once the fixed interest-in-advance period has expired the rate automatically reverts to the ANZVariable Residential Investment loan rate.
Purpose
Fund purchase of residential investment property such as a house, holiday house, unit, apartment or town house to let.
Repayments
Interest-in-Advance repayment options allow you to pay annually, half-yearly, quarterly, or monthly in-advance. Repayment of the principal portion of the loan is deferred until the Interest-in-Advance term is complete. Once the Interest-in-Advance term is complete, repayments can be made weekly, fortnightly or monthly. These repayments can be automatically debited from your ANZ Access account or from an account held at another bank.
Lock Rate Option
With ANZ Interest-in-Advance Residential Investment Loan the interest rate that will apply is the rate for the term you select as at the day you settle your loan. However, if you would like to ‘lock in’ the interest rate current at the time you apply you can do this with ANZ Lock Rate. By paying a Lock Rate fee, the rate is ‘locked in’ for up to ninety days, protecting you from the potential risk of interest rates increasing before you drawdown your loan. Lock rate gives the extra security of knowing exactly what your repayments will be for a set period.
Lenders Mortgage Insurance
With Lender Mortgage Insurance we can lend you up to 90% of the purchase price. To find out more please enquire at any ANZ Branch or call 1800 333 123 for more details.
Negative gearing
For advice about how negative gearing could work for you, and to ensure that any requests by you to the Australian Taxation Office (ATO) are accurate, we recommend you consult your accountant or financial advisor.
ANZ Rapid Refinance. Why wait?
Has an ANZ loan caught your eye? ANZ Rapid Refinance# allows you to quickly switch your current loan to ANZ in only a matter of weeks. So, you will benefit from your refinance plans far quicker than usual. ANZ Interest-in-Advance Residential Investment Loan
Interest Rate
For the latest Interest Rates, visit the MortgageCorp Mortgage Calculator
Lock Rate
Yes, Lock Rate is available on the 1-5 Year Fixed Rate Residential Investment Loans maximum amount $1,000,000.
Lock Rate fee applies ($600 plus 0.15% of loan amount)
Term
Interest-in-Advance term – 1 to 5, 7, and 10 years
Overall loan term – 30 years
Minimum amount
$20,000
Interest-in-Advance repayment
Annually, half-yearly, quarterly, monthly repayment options – Interest-Only
Fees
Standard loan approval fee applies.
Repayment options when loan converts to Variable Rate
Weekly, fortnightly or monthly
Additional Repayments
Additional repayments can be made up to a set amount known as a tolerance*.
Repayment source
Repayment can be made by Direct Loan repayment (DLP) or Deposit Book
Talk to MortgageCorp today
If you’re ready to invest in residential property, talk to your ANZ manager today. We’ll work with you to prepare exactly the right loan to suit your needs today, and structure it to suit your needs in the future. Like more information? Visit our website at www.anz.com, Phone the Property Investor’s Hotline on 1800 333 123 8am – 11pm EST seven days a week, or visit any ANZ branch.
Further information
This Fact Sheet contains general information about the ANZ Interest-in-Advance Residential Investment Loan option. It does not form part of the Terms and Conditions.
#All applications are subject to ANZ’s normal credit approval criteria. Terms and conditions available on application. Fees and charges are payable.
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