ANZ Cuts Variable Home Loan Rates: What It Means for Borrowers

ANZ has reduced its special offer variable home loan rates, making its Simplicity Plus product more competitive for eligible borrowers. With discounts of up to 15 basis points (bp) on selected variable rates, the smallest of the big four banks is making a strong case for homeowners and refinancers to consider its offerings.

New ANZ Variable Rates for Simplicity Plus Home Loan

ANZ’s updated rates apply to owner-occupiers and investors with principal and interest (P&I) repayments, with the most significant reductions for borrowers with higher equity or deposits.

These new rates are available for eligible borrowers, with discounts tied to loan-to-value ratio (LVR) thresholds.

Cashback Incentives for Refinancers and First Home Buyers

ANZ is currently the only big four bank offering cashback deals:

• $2,000 cashback for refinancers switching loans worth $250,000 or more with an LVR of 80% or less.
• $3,000 support for eligible first-home buyers to help cover upfront costs.

These incentives add value, particularly for borrowers looking to refinance or secure their first property.

How ANZ’s Rates Compare with Other Big Four Banks

ANZ’s Simplicity Plus home loan now offers one of the most competitive basic variable rates among the big four.

Big Four Bank Variable Rate Comparisons

Both ANZ and CommBank offer lower rates through their app-based products, but eligibility criteria and product features differ.

What Does This Mean for Borrowers?

The new rates and cashback offers from ANZ make it an appealing choice for borrowers with significant equity or those looking to refinance. However, borrowers should consider comparison rates, features, and fees when assessing home loan options.

Ready to Find the Right Home Loan?

At Vantage Loans, we understand how important it is to secure the best home loan for your needs. Whether you’re refinancing, buying your first home, or investing, we can help you navigate competitive rates and cashback offers like ANZ’s.

Call us at 1800 595 500, email us at [email protected], or visit vantagefinancial.com.au to get started today.