Home equity loans - Lending

Home equity loans

For those who have equity built up in their property, ANZ Royal Bank Home Equity Loan will help you turn equity into a ready source of funds which can be used to renovate or upgrade the existing property, to support education, to purchase vehicles or expand an existing business or set up a new one. You'll get more from your property.

ANZ Royal Bank Home Loans at a glance

All ANZ Royal Bank Home Loans must be denominated in United States Dollars (USD).

	Home Equity Loan
Description	The Home Equity Loan is a loan secured by existing owner-occupied residential property which can be used to renovate or upgrade the current property, buy a vehicle for personal use, invest in a simple business (existing or new), support someone's education or other personal purposes acceptable to ANZ Royal Bank.
Interest Rates #	12.4% p.a. (variable)
Interest Type Variable
Additional Repayments
Early Repayment Penalty	None
Loan Approval Fee	$100 or 1% of loan amount, whichever is higher. For ANZ Royal Bank @ work customers - $100 or 0.50% of loan amount, whichever is higher.
Other associated Costs – One-time fees payable when Letter of Offer is issued except insurance*	Property valuation $80-160 ** Legal Fee $264 inclusive of VAT Mortgage registration $160-200 Fire insurance (must be renewed annually)
Maximum Loan amount (% of property value)	50%
Loan amount	No minimum & no maximum
Maximum Loan Term	15 years

Interest rate is calculated daily and charged monthly. Interest rate is subject to movement from time to time.

* All of these fees are subject to change without notice.

**Charge is dependant on where the property is located.

Further information, please call our 24/7 ANZ Royal Bank Call Centre