Fact checked
ANZ has rolled out its new set of “simpler” mortgage products, replacing the almost two-decade old Breakfree package.
Existing borrowers with the BreakFree package will be able to take advantage of the benefits that come with their loan until 10 September 2022.
After expiration, loans under the Breakfree package will be moved onto the new set of standard variable and fixed rates with new features and fee structure.
Here are some of the rates under the ANZ Standard Variable and ANZ Fixed Rate products:
|
ANZ Loan Product |
Change |
New Advertised Rate |
Comparison Rate |
|
Discounted Standard Variable P&I ≤80% |
Down 140 bps |
2.99% p.a. |
2.99% p.a. |
|
Investment Discounted Standard Variable P&I ≤80% |
Down 140 bps |
3.59% p.a. |
3.59% p.a. |
|
Residential Fixed 3 yrs ≤80% |
Down 15 bps |
3.59% p.a. |
3.15% p.a. |
|
Residential Fixed 5 yrs ≤80% |
Down 15 bps |
4.19% p.a. |
3.48% p.a. |
|
Investment Fixed 3 yrs ≤80% |
Down 15 bps |
3.79% p.a. |
3.65% p.a. |
|
Investment Fixed 5 yrs ≤80% |
Down 15 bps |
4.29% p.a. |
3.88% p.a. |
Meanwhile, here are some of the most substantial interest-rate changes by other lenders over the past week:
HSBC
HSBC made several increases in its fixed-rate home loans.
|
HSBC Loan Product |
Change |
New Advertised Rate |
Comparison Rate |
|
Home Loan Package Owner Occupier Fixed P&I 3 yrs <80% |
Up 70 bps |
3.77% p.a. |
3.09% |
|
Home Loan Package Investment Fixed P&I 3 yrs <80% |
Up 70 bps |
3.97% p.a. |
3.36% p.a. |
|
Residential Fixed P&I 5 yrs <80% |
Up 70 bps |
4.27% p.a. |
3.66% p.a. |
|
Investment Fixed P&I 5 yrs <80% |
Up 70 bps |
4.47% p.a. |
3.93% p.a. |
Greater Bank
Greater Bank hiked its fixed rate across the Great Rate, Standard, and Ultimate products.
|
Greater Bank Loan Product |
Change |
New Advertised Rate |
Comparison Rate |
|
Great Rate Fixed 2 yr |
Up 40bps |
3.29% p.a. |
2.93% p.a. |
|
Standard Fixed 3 yrs |
Up 40 bps |
3.69% p.a. |
3.94% p.a. |
|
Ultimate Discount Fixed 4 yrs 150k+ |
Up 30 bps |
3.89% p.a. |
3.56% p.a. |
Bank Australia
Bank Australia increased its fixed rates by as much as 60 bps while slightly lowering its variable rates.
|
Bank Australia Loan Product |
Change |
New Advertised Rate |
Comparison Rate |
|
Premium Package <80% |
Down 10 bps |
2.20% p.a. |
2.60% p.a. |
|
Premium Package <70% |
Down 5 bps |
2.15% p.a. |
2.55% p.a. |
|
Basic Fixed 5 yrs <80% |
Up 60 bps |
4.10% p.a. |
2.87% p.a. |
|
Investment Premium Package P&I Fixed 3 yrs <70% |
Up 50 bps |
3.60% p.a. |
3.13% p.a. |
AMP Bank
AMP Bank made increases to both its variable and fixed rates.
|
AMP Bank Loan Product |
Change |
New Advertised Rate |
Comparison Rate |
|
Professional Package Investment Variable P&I 90% 500k+ |
Up 10 bps |
2.77% p.a. |
2.80% p.a. |
|
Professional Package Investment Fixed IO 3 yrs |
Up 40 bps |
3.84% p.a. |
3.15% p.a. |
|
Professional Package Owner Occupied P&I 80-90% 500k+ |
Up 10 bps |
2.54% p.a. |
2.57% p.a. |
|
Basic Fixed IO 5 yrs |
Up 30 bps |
3.99% p.a. |
2.98% p.a. |
Collections: Mortgage News Interest Rates
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