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ANZ Owner Occupied from 2.09% 1 Year Fixed with 100% Offset and $3,000 Cashback + Revert Rate Discretions

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ANZ Owner Occupied from 2.09% 1 Year Fixed with 100% Offset and $3,000 Cashback + Revert Rate Discretions
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Store RepLoan Base @ Loan Base on 12/01/2021 - 13:21 anz.com.au (376 clicks)
Last edited 15/02/2021 - 13:39 by 2 other users

ANZ currently has a refinance cashback of up to $3,000 available. They're offering 100% offset accounts on their 1 year fixed term loans, starting at 2.09% for their P&I Owner Occupied product. As a broker, we can also apply for variable pricing discretions - for both variable loans and the variable revert rate on fixed loans.

Please see current ANZ rates below - note that the comparison rates do not take into account potential revert pricing discretions we may be able to access, and we've seen variable discretions as low as 2.59% of late for owner occupied P&I loans.

All of the following are under ANZ's Breakfree package which waives all upfront fees, and includes an annual-fee-free credit card.

Owner Occupied P&I < 80% LVR

  • 1 Year Fixed - 2.09% (4.13% CPR) + 100% Offset on fixed
  • 2 Year Fixed - 2.09% (3.98% CPR)
  • 3 Year Fixed - 2.09% (3.84% CPR)
  • 4 Year Fixed - 2.29% (3.77% CPR)
  • 5 Year Fixed - 2.29% (3.67% CPR)

Investment P&I < 80% LVR

  • 1 Year Fixed - 2.59% (4.71% CPR) + 100% Offset on fixed
  • 2 Year Fixed - 2.49% (4.53% CPR)
  • 3 Year Fixed - 2.49% (4.37% CPR)
  • 4 Year Fixed - 2.99% (4.38% CPR)
  • 5 Year Fixed - 2.99% (4.28% CPR)

Investment Interest Only < 80% LVR

  • 1 Year Fixed - 2.79% (4.72% CPR) + 100% Offset on fixed
  • 2 Year Fixed - 2.69% (4.55% CPR)
  • 3 Year Fixed - 2.69% (4.40% CPR)
  • 4 Year Fixed - 3.19% (4.43% CPR)
  • 5 Year Fixed - 3.19% (4.34% CPR)
Fees
  • $0 upfront fees
  • Ongoing fee of $395 per annum for the Breakfree package
  • Includes credit card with annual fee waiver
ANZ Cashback Conditions
  • Requires $150k-$250k of "new to ANZ" lending (i.e. lending refinanced from another lender)
  • $1,200 for refinances for loans between $150k - $249,999
  • $3,000 for refinances for loans > $250,000
  • Must have application lodged by February 1st, and settle by 30th April 2021.
Variable Rates

As mentioned above, we can apply for variable pricing discretions. Please get in touch to discuss these as we cannot post them online.

Alternatives

Depending on your total utilised lending size and LVRs, we can offer a number of alternative lender options with lower fixed rates and lender cashbacks as high as $4,000 for a single property (potentially higher cashbacks if you refinance/purchase additional properties). Please reach out to discuss your options.

Comparison Rates

Any quoted comparison rate is only true for the example given and may not include all fees and charges. Different terms, loan amounts or fees may result in a different comparison rate. Comparison rates are based on a loan amount of $150,000 over a loan term of 25 years.

HOW TO APPLY

Our team is here to help, and will work to ensure we obtain the best pricing discretions possible for any variable rates (including the revert rate from the fixed product). You can lodge an enquiry via our platform here - https://loanbase.com.au/compare-home-loans-fva, or contact one of our brokers directly with their details below:

Andrew Loucas, Email: [email protected], Calendar link: https://calendly.com/loanbase-andrew/quickchat
Leo Gonzales, Email: [email protected], Calendar link: https://calendly.com/loanbase-leo/initial

Loan Base Pty Ltd (ABN 95 162 141 915) · Australian Credit Licence Number 508 308
Head Office: Level 1, 1-5 Link Road, Zetland, NSW, 2017. Phone: 1300 512 377.

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closed Comments

  • dasher86 on 12/01/2021 - 13:24
    +1

    $1,2000 for refinances for loans between $150k - $249,999

    wow!

    • Store RepLoan Base @ Loan Base on 12/01/2021 - 13:33

      Sorry. typo! $1,200 :)

  • justtoreply on 12/01/2021 - 13:24

    Do the cashbacks get based on raw loan value or loan value net of offset+savings?

    • Store RepLoan Base @ Loan Base on 12/01/2021 - 13:35

      Hi justtoreply, it's based on raw loan value.

      • justtoreply on 12/01/2021 - 13:40

        Is that typical? Seems.. Like a loophole

        I guess big offset account balances aren't the norm

        • Store RepLoan Base @ Loan Base on 12/01/2021 - 14:02

          It's typical for major lender cashbacks. The only proviso I would put on this is that, as brokers, we probably can't assist you if your loan value net of offset is too low and you would need to go to ANZ direct (as we are paid commission based on net of offset loan values).

  • ravzter on 12/01/2021 - 13:30

    no broker cashback ?

  • PeppaCat on 12/01/2021 - 13:30

    When will be the cashback ended?

    • Store RepLoan Base @ Loan Base on 12/01/2021 - 13:34

      Hi PeppaCat, application must have been lodged before February 1st and settle by 30th April.

  • moreBeanz on 12/01/2021 - 13:39
    +1

    Any similar deals for existing ANZ breakfree customers looking to re-finance?

    • RDY4ME on 12/01/2021 - 14:01
      +7

      No. Once you are signed up with ANZ their customer service is non existent

      • Store RepLoan Base @ Loan Base on 12/01/2021 - 14:08

        That's why it's helpful to have a broker in your court 😃

        • Puglife on 12/01/2021 - 14:14
          +2

          From my experience brokers aren't very helpful after initial settlement. Now I just do my own haggling…
          Just tell your bank of existing deals with other banks and you are considering re-financing. Even ask for them to email you the discharge form. You will be surprised how quickly they come back with a better offer…

        • tunzafun001 on 12/01/2021 - 14:22

          Yeah, brokers are getting around 0.2%. So you are behind 0.2 for any future rate drop request. But brokers are always amongst the new rates, so saves you some research.
          I've found googling your bank+ 'broker' can often provide direct access to broker channels- rates and info if you want to go your own way.
          If its your first loan, 100% use a broker.

      • willy000 on 12/01/2021 - 15:14

        Can confirm their customer service sucks and so does just about everything else with ANZ.

        Would never go back to ANZ no matter how good the deal was.

    • Store RepLoan Base @ Loan Base on 12/01/2021 - 14:07

      Hi moreBeanz, there's a minimum amount of $250k "new to ANZ lending" if you want the full $3k cashback - meaning this would need to be refinanced from another lender. That said, we may be able to assist with similar rates and cashbacks with alternative lenders - feel free to book in time with one of our team or send me a PM if you'd like to discuss this further.

      • Trendyoz on 24/01/2021 - 11:29

        What if you have some amounts in your offset that brings down the outstanding amount to less than 250K? Am i able to refinance the full amount and bring back the offset amount after settlement?

  • motlking on 12/01/2021 - 14:33

    are there any 95% LVR deals (no LMI) for healthcare workers (doctors/pharmacists)? I know Westpac does this but not sure about other lenders

    • spiff on 12/01/2021 - 14:47

      I thought it's usually 90 LVR not 95. Westpac, St George, BoM, CBA, ANZ do this. There could be others.

    • ymmf on 12/01/2021 - 14:49

      I asked Westpac a few months ago but I was told it was 85% LVR.

    • motlking on 12/01/2021 - 15:34

      the minimum is definitely 90% but I and others have 95% through Westpac. I'm not sure if its a broker dependent deal as some brokers say what you guys have said.

    • Store RepLoan Base @ Loan Base on 12/01/2021 - 14:42
      +1

      Hi 4foxache, as per our OP, "note that the comparison rates do not take into account potential revert pricing discretions we may be able to access, and we've seen variable discretions as low as 2.59% of late for owner occupied P&I loans". Assuming we obtain sharp revert rate pricing discretions for you, the comparison rate would actually be much much lower.

      Remember that the comparison rate is based on a 30 year loan term, and factors in the baseline revert rates without any discount. This makes them pretty misleading with fixed term loans, as you would be very unlikely to pay the listed product revert rate.

    • spiff on 12/01/2021 - 14:45
      +5

      The comparison rate is what doesn't matter unless you're lazy. It's just like looking at the generic health rating on the front of food pack, instead of looking at the ingredients and the nutritional information. You need to look at the details behind (interest rate, owner occupier/investor, terms, fees) to compare to other offers.

      • 4foxache on 12/01/2021 - 14:46
        -4

        The comparison rate includes all fees etc that's why its called a comparison rate to make it easy to compare offerings including all hidden costs. Effectively you're getting a 4% interest rate, that is not a good deal.

        • spiff on 12/01/2021 - 14:47
          +5

          Ok it seems like looking into the details is a bit over your head so don't worry about it.

          • 4foxache on 12/01/2021 - 14:48
            -5

            @spiff: Na that's the point of a comparison rate it does that for you it seems that simple concept has gone over your head

            From commbank:

            "A comparison rate includes the interest rate as well as certain fees and charges relating to a loan. The aim of the comparison rate is to help you identify the true cost of a loan and compare loans and services offered by financial institutions and mortgage providers."

            • spiff on 12/01/2021 - 14:51
              +1

              @4foxache: Lol ok. If you can't even read what a broker tells you and bother to try and understand what they're saying, and instead pull a one liner from the face of a bank's website that doesn't even address the points being made to you, then it's your loss. Go on, keep chasing the best comparison rate.

              • 4foxache on 12/01/2021 - 14:53
                -3

                @spiff: Yeah not that hard bro they'll try and do a better rate than advertised bla bla… sure heard it all before sorry I don't get sucked in by that. You should watch The Founder… don't worry about commissions mate we'll sort that out later all good I promise. Keep on jogging brother

                • Puglife on 12/01/2021 - 15:00

                  @4foxache: My previous revert rate after a fixed rate was 4.6% and after one phone call it was dropped to 3.1%. This is why a comparison rate is misleading. As previous commenter stated, unless you are lazy you don't need to follow that. Also when changing rates all my fees get waived.

                  • 4foxache on 12/01/2021 - 15:03
                    +1

                    @Puglife: Revert rate applies after fixed period ends… 3.1% still isn't a very competitive rate. Anything over 3% is too high.

                    • Puglife on 12/01/2021 - 15:06
                      +2

                      @4foxache: I was simply explaining an example of why your knowledge is misguided. That was a year ago btw, I am now fixed below 2%. But I shall move on, you don't really want evidence, you simply like to argue, which is why you get negged by people ;)

                      • 4foxache on 12/01/2021 - 15:09
                        -4

                        @Puglife: What am I missing?

                        https://www.canstar.com.au/home-loans/comparison-rates-expla…

                        "The comparison rate also does not take into account all fees and charges related to a loan. For example, it does not include fees and charges that are incurred in specific circumstances, such as early repayment fees and redraw fees. It also does not consider potential cost saving options such as fee waivers and offset accounts.

                        Additionally, it does not include external government fees and charges that usually apply to purchasing a property, such as stamp duty."

                        If you could get fees waived then yeah things would look better but in my experience the package costs are rarely waived. As I said before, jog on.

                        • megaclix on 12/01/2021 - 15:56
                          +1

                          @4foxache: As has been stated multiple times, the Comparison Rate doesn't work too well with fixed rate loans. The Comparison Rate for fixed rate loans is over-represented by the 'assumed' reverted variable rate when the fixed rate expires. Different lenders assume different variable rates. In ANZ's case, they state that it is 0.5% lower than their standard variable rate (which is their min discount on the package). As the fixed rate ends, you would negotiate that down to a more competitive rate, or leave. I don't know why the big banks play this game, they used to be a lot more transparent.

                          The only real way to do a proper comparison, is to shortlist, and then do the calcs yourself, using a realistic ongoing variable rate. They should probably come up with a special Comparison Rate for fixed rates which applies for the term of the fixed rate period.

                        • spiff on 12/01/2021 - 16:13
                          +3

                          @4foxache: You're missing a lot.

                        • Adii on 12/01/2021 - 18:16

                          @4foxache: Comparison rate is based on loan amount $150000 over 25 years period and will never give a you a true picture and varies greatly based on individual lending. All you need to do is factor any applicable fees separately and not bother about comparison interest rate.

        • Tock on 12/01/2021 - 15:02
          +4

          Read one of the many other mortgage/broker deals on here or do some googling - plenty of clear explainations of why comparison rates are only a small part of the picture (and often a bit misleading without understanding/researching).

          • 4foxache on 12/01/2021 - 15:07
            -3

            @Tock: It's more than a small part its the main part… yeah it doesn't include everything but it includes most everything that matters like all the extra account fees etc. It doesn't factor in offset either but still the interest rate is crappy imo as you can still get lower interest rates with offset accounts.

            I love it how comparison rates are designed to make things easy then mortgage brokers like to re-muddy the waters and dazzle everyone with bs. Good work for taking the bait champs!

            • squarepants on 12/01/2021 - 15:23
              +9

              @4foxache: Honestly, you need to read up more on the mechanics of comparison rates, reading it at face value is one thing, understanding how it works is a completely separate thing. Are you even reading what people are posting here? OP has already stated that comparison rates are based on 30 year terms and whatever the default revert rate is.

              The comparison rate only applies if you stick with this loan for it's full term, in which you get slugged with the annual package fees and presumably higher revert rate once the fixed term runs out.

              BUT if you refinance with another offer / other bank in a year or two's time, your actual rate for the loan / loan term is significantly lesser than the stated comparison rate of 4.xx%.

              Claiming the comparison rate is a small part but the main part is like saying an the tip of an iceberg is a small part but the main part.

              • 4foxache on 13/01/2021 - 13:36
                -1

                @squarepants: Obviously you can refinance again and it doesn't apply if you keep gaming the system and jumping around. That doesn't invalidate my point if you stay with the loan then its entirely valid. Gaming the system and dodging the rules and working around it doesn't invalidate my point… its just going off in a tangent to prove your point. Bravo… very clever, not very intelligent to entirely miss my point.

                • El-Rhi on 13/01/2021 - 18:31
                  +2

                  @4foxache: It’s not gaming the system…. it’s being financially savvy.

            • batrarobin on 12/01/2021 - 16:50
              +2

              @4foxache: ;TLDR

              Don't read the comparison rate. Just remember to switch to another bank as soon as your fixed term is over and you'll be fine. Just IGNORE the comparison rate.

  • JohnyEnglish on 12/01/2021 - 15:00
    +2

    How does fixed interest rate have 100% offset?

    • Puglife on 12/01/2021 - 15:01
      +1

      Most places give you an offset account if its only "1 year fixed". Any more and you generally don't get one.

    • Gumbootboy on 12/01/2021 - 18:33

      Yeah, I've got the same question. I think the payment amount is fixed, so you pay $X every fortnight, but the interest is offset. So if your offset matches your loan value you don't pay interest, but you fixed payment amount stays the same, and pays off your principle?

  • deale on 12/01/2021 - 16:58

    Currently in the process of switching from ANZ to Westpac. If I switched back to ANZ in a few weeks (assuming this deal is still running), would I qualify for the cashback?

  • solys on 12/01/2021 - 17:42

    I always see cash back offers for refinances. Are there ever cash back offers for first time financing?

    • Store RepLoan Base @ Loan Base on 12/01/2021 - 18:00

      Yes, we have access to one bank lender who is doing up to $4k on purchases. It’s an unadvertised deal, so please PM me or book time in with one of our brokers if you’d like to discuss this further.

  • pHyR3 on 12/01/2021 - 19:04

    1 yr fixed doesn't look like a great deal but the 5yr could be not too bad!

    although homestar 2yr fixed at 1.88% and tic:toc 3 yr fixed at 1.99% seem like they are better for the shorter terms

    • blovers on 12/01/2021 - 21:38

      What to do you think of Bankwest 4 years fixed @1.98%?

      • pHyR3 on 12/01/2021 - 21:52
        +1

        not a bad deal for 4 years. one of the lowest CR I've seen for a 4 yr fixed at 3.33% too (outside of online lenders like well home loans etc.)

        BOM might be slightly better at 1.94% (3.21% CR) though but i think they have some slightly higher establishment fees and no cashback I've seen so probably still lean towards bankwest

  • danielh on 12/01/2021 - 22:46

    What are the fees if you get a sudden monetary windfall and want to pay off a $250k loan within three months? I’m assuming you still get the $3k cash and maybe lose out on $395 in fees. Would that be about right?

  • baron33 on 13/01/2021 - 12:03
    +1

    any other banks have such product:

    1 Year Fixed - 2.09% (4.13% CPR) + 100% Offset on fixed?

    • Store RepLoan Base @ Loan Base on 13/01/2021 - 13:30
      +1

      Hi baron33, we can also do 100% offset on fixed via Adelaide Bank as per our other OZB post - https://www.ozbargain.com.au/node/596267

      Note that there's unfortunately no cashback with Adelaide Bank.

  • EmployeeGuyfromMelbourne @ ANZ on 14/01/2021 - 23:22
    +1

    "only via the broker channel" - This is NOT true.

    • Store RepLoan Base @ Loan Base on 15/01/2021 - 00:37

      Hi GuyfromMelbourne - this is what we were told by Broker Assist when we called to clarify the offer before posting. Happy to edit the OP if you have evidence to the contrary?

      • EmployeeGuyfromMelbourne @ ANZ on 15/01/2021 - 07:08
        +3

        The bank staff can offer the same deal. People can just call the generic line and confirm it.

        • Store RepLoan Base @ Loan Base on 15/01/2021 - 09:05
          +1

          Hi GuyfromMelbourne - thanks. I’ve spoken with the public sales team and verified this. Note that the ANZ website doesn't advertise this cashback and you must specifically request it when enquiring. Our BDM had told us it was broker-only too, hence the confusion at our end. Anyways, I’ve edited the OP to reflect this.

          • EmployeeGuyfromMelbourne @ ANZ on 15/01/2021 - 10:40
            +1

            @Loan Base: All good mate. You are only human. I won't put the blame on you 😜.

  • zagzzig on 21/01/2021 - 14:49

    Is cashback per property? say if I have two properties, both have loan size > 250K. How much cashback can I get? Thanks.

    • Store RepLoan Base @ Loan Base on 22/01/2021 - 09:49

      Hi Zagzzig, yes that's right - only 1, however we could do 1 app with ANZ, and 1 app with another lender for a second cashback.

      • zagzzig on 22/01/2021 - 10:07

        Thanks

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