20 April 2021
Effective Monday 19 April 2021, ANZ will simplify the Home Loan Breakfree Package discount structure, by replacing the existing discounts advertised with two new LVR based tiers for new loans. This change will improve ANZ’s advertised Breakfree Package offering and comparison rates to better reflect ANZ’s pricing proposition.
- The new discount structure will apply to new eligible Standard Variable Rate loans and Equity Manager Accounts on the Breakfree package.
- There will be no change to the discounts offered for Fixed Rate and Simplicity Plus loans.
- Breakfree eligibility criteria of $150K Total Mortgage Lending (TML) will still apply.
- Discretionary pricing is still available via the Pricing Tool for any Breakfree customers with a TML above $250k.
- For new eligible applications submitted on or after the effective date, the new Breakfree discount pricing will apply.
- For all eligible inflight applications settled after Monday 19 April 2021, where the old discount is less than the new applicable Breakfree discount, the loan account will be updated to reflect the new discount after drawdown.