If you have an ANZ Home Loan with a fixed rate, there are a couple of ways you can make extra repayments without being charged an Early Repayment Recovery:
- If it’s the first increase that year, you can increase your regular repayments towards your home loan by up to $250 a week.
- Plus, each year you can make an extra lump sum repayment that’s no more than 5% of your current loan amount.
The year runs from the date, or the anniversary of the date, that your fixed rate period started.
Early Repayment Recovery (sometimes called a ‘break fee’) is an amount you pay us to reflect the loss we incur when you repay some or all of the loan early during a fixed rate period. Talk to us before you decide to repay early, as any Early Repayment Recovery could be large.