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ANZ cuts investment mortgage rates
ANZ has dropped the fixed interest rates on selected residential investment home loans, including principal and interest, interest only and interest in advance options.
The lower rates, effective from 28 May 2018, affect ANZ’s Breakfree and non-Breakfree investment loans with two-year fixed rates.
Two-year fixed rates on ANZ principal & interest residential investment loans dropped 0.11 basis points, while the two-year fixed rates for interest only and interest in advance residential investment loans fell by 0.26 basis points.
| Loan | Old rate | Change | New rate | New comparison rate |
|---|---|---|---|---|
| ANZ Fixed – Breakfree Residential Investment Loan Principal and Interest (2 years) | 4.19% | -0.11% | 4.08% | 5.45% |
| ANZ Fixed – Non-Breakfree Residential Investment Loan Principal and Interest (2 years) | 4.34% | -0.11% | 4.23% | 5.56% |
| ANZ Fixed – Breakfree Residential Investment Loan Interest Only (2 years) | 4.44% | -0.26% | 4.18% | 5.46% |
| ANZ Fixed – Non-Breakfree Residential Investment Loan Interest Only (2 years) | 4.59% | -0.26% | 4.33% | 5.58% |
| ANZ Fixed – Breakfree Interest in Advance Interest Only(2 years) | 4.24% | -0.26% | 3.98% | 5.42% |
| ANZ Fixed – Non-Breakfree Interest in Advance Interest Only (2 years) | 4.39% | -0.26% | 4.13% | 5.55% |
What is Interest In Advance?
This option for interest-only residential investment mortgages involves prepaying the next year’s interest as a single lump sum rather than monthly payments. This may allow a borrower to claim additional deductions come tax time – consult a tax professional for more information.
Disclaimer
This article is over two years old, last updated on May 28, 2018. While RateCity makes best efforts to update every important article regularly, the information in this piece may not be as relevant as it once was. Alternatively, please consider checking recent home loans articles.
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