‘Love-hate relationship’: Why big banks are stepping back from brokers
Big banks’ digital home loan offerings could undercut mortgage brokers and bolster borrowe...
10 Jun, 2025
| Lender | Home Loan | Interest Rate | Comparison Rate* | Monthly Repayment | Repayment type | Rate Type | Offset | Redraw | Ongoing Fees | Upfront Fees | Max LVR | Lump Sum Repayment | Extra Repayments | Split Loan Option | Tags | Features | Link | Compare | Promoted Product | Disclosure |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
5.39% p.a. | 6.48% p.a. | $2,805 | Principal & Interest | Fixed | $null | $null | 80% | |||||||||||||
5.49% p.a. | 6.61% p.a. | $2,836 | Principal & Interest | Fixed | $null | $null | 80% | |||||||||||||
5.54% p.a. | 6.84% p.a. | $2,308 | Interest-only | Fixed | $0 | $160 | 80% | |||||||||||||
5.54% p.a. | 6.98% p.a. | $2,852 | Principal & Interest | Fixed | $0 | $160 | 80% | |||||||||||||
5.64% p.a. | 6.85% p.a. | $2,883 | Principal & Interest | Fixed | $0 | $160 | 80% | |||||||||||||
5.64% p.a. | 7.16% p.a. | $2,883 | Principal & Interest | Fixed | $0 | $160 | 80% | |||||||||||||
5.69% p.a. | 6.44% p.a. | $2,899 | Principal & Interest | Fixed | $null | $null | 80% | |||||||||||||
5.74% p.a. | 6.89% p.a. | $2,392 | Interest-only | Fixed | $0 | $160 | 70% |
Important Information and Comparison Rate Warning
ANZ is the fourth-largest home lender in Australia and as such, caters for a wide range of borrowers.
Unlike some of the larger big banks, ANZ hasn't stated it's looking to originate more of its loans in-house rather than through its broker network. However, it has acknowledged that broker-initiated loans are less profitable to its business.
The bank offers two headline variable rate home loan products: the Standard Variable and its 'no frills' Simplicity PLUS home loan, as well as fixed rate loans. It also boasts its app-exclusive ANZ Plus platform, which offers a variable rate home loan for eligible refinancers.
ANZ markets its Standard Variable loan as its most flexible, with the ability to add features such as an offset account (for a $10 monthly fee).
Like many big banks, some of the rates advertised on its website are standard rates which are generally considerably higher than those many of its home loan customers are paying.
ANZ does not offer home loan packages and doesn't charge set-up or ongoing fees on new or refinanced home loans.
You may find ANZ a good fit if you:
-
Prefer the security and services of a big bank
As one of Australia's oldest banks, ANZ offers brand recognition and the full range of banking services that comes with major banks. -
Prefer in-branch banking
ANZ has a wide network of branches making face-to-face interactions more accessible. It also offers digital banking services. -
Are looking for flexibility
ANZ offers products suitable for a range of homeowners, including first homeowners, refinancers, investors, and those wanting to build. It also offers split loan options and allows borrowers to choose their own repayment schedules. -
Are borrowing under the Home Guarantee Scheme
ANZ participates in the federal government's scheme to guarantee loans for eligible borrowers, allowing them to access home loans with low deposits without paying lenders mortgage insurance (LMI). -
Are a doctor or medical professional
ANZ offers LMI waivers to eligible medical and dental practitioners and medical specialists who have deposits as low as 5%. -
Want to take advantage of a home loan offer
Of the big banks, ANZ regularly offers cashback refinance and bonus offers to eligible borrowers. These can be subject to change but are worth checking out. -
Are a PAYG or casual employee
ANZ has flexible income verification options for loan applicants who may not be standard wage or salary earners.
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