Aussie suburbs where there’s a first homebuyer boom
![Smiling man lifting laughing woman in empty apartment](https://cdn.mozo.com.au/images/atwood/14501/GettyImages-678124861.png)
New data from National Australia Bank reveals the Australian suburbs booming in popularity amongst first-home buyers.
These areas provide hope for those applying for a home loan and entering the property market for the first time.
Melbourne’s western and northern suburbs, and a northwest Sydney suburb top the list, but the data revealed locations in other states which are seeing first-home buyers making their nest.
NAB executive of home ownership, Andy Kerr says first-home buyers are looking for new opportunities in an evolving market.
"Value and location remain the two most important factors for first home buyers when looking to purchase their first property," Kerr said.
Despite the cost-of-living crisis and softening market conditions on our hands, the data shows that the rate of first-home buyers didn’t slow down in the second half of last year.
Instead, NAB suggests, Australians are taking advantage of falling house prices and government support schemes, like the First Home Owners Grant.
Where are Australian first-home buyers looking?
The following suburbs were the most popular areas for first-home buyers in Australia in the latter half of 2022.
![Aerial view of Melbourne city CBD high-rise towers from Port Melbourne and Southbank above residential suburb house roofs and local streets, roads, cars and parks.](https://cdn.mozo.com.au/images/atwood/14501/GettyImages-890686918.png)
Victoria
One in ten first-home buyers in Victoria bought in the western or northern suburbs of Melbourne, according to NAB.
These areas of growth have been bolstered by billions of dollars of investment in roads and transport infrastructure.
“First home buyers in Victoria continue to be attracted to growth areas to the north, west and south-east of Melbourne, with good amenities, growing transport links, new schools and parks and a more relaxed, suburban lifestyle,” said Kerr.
The top suburbs for first-home buyers in Victoria were:
1. 3029 – Hoppers Crossing, Tarneit and Truganina
2. 3064 – Craigieburn, Donnybrook, Kalkallo, Mickleham and Roxburgh Park
3. 3978 – Cardinia, Clyde and Clyde North.
![Sydney city, aerial view. Houses, green trees, and Sydney Harbour in the distance.](https://cdn.mozo.com.au/images/atwood/14501/GettyImages-1397479736.png)
New South Wales
Topping the list in NSW, the northwestern suburb of Schofields recorded a 63% jump in quarter-on-quarter demand in the second half of 2022, according to NAB.
This jump is attributed to the completion of several new housing developments and properties that were eligible for government scheme support.
“Schofields and Liverpool are some of the most in-demand suburbs for first home buyers in NSW, with new housing developments here falling within the price thresholds for a number of state government assistance schemes, and they have growing public transport options, retail and education precincts and parks in a suburban environment,” said Kerr.
The top NSW suburbs for first-home buyers were:
1. 2762 – Schofields
2. 2765 – Berkshire Park, Box Hill, Maraylya, Marsden Park, Nelson, Oakville, Riverstone and Vineyard
3. 2170 – Casula, Chipping Norton, Hammondville, Liverpool, Lurnea, Moorebank, Mount Pritchard, Prestons and Warwick Farm.
![An aerial shot of Brisbane downtown and river.](https://cdn.mozo.com.au/images/atwood/14501/GettyImages-638964366.png)
Queensland
In Queensland, suburbs surrounding ‘the Garden City’ of Toowoomba were hot property for those getting into the market for the first time, including Darling Heights and Drayton. The popularity of the regional city, says NAB, is due to an infrastructure boom.
“Toowoomba has been going from strength-to-strength in past years, attracting families with its quick commute to Brisbane, schools, laidback lifestyle and spacious land sizes. With billions of dollars of investment coming down the pipeline on the Inland Rail Link and a new Toowoomba Hospital, the Garden City is shaping up as an exciting place to buy and live,” said Kerr.
Three of Queensland’s top five suburbs for first-home buyers were regional – Toowoomba, Mackay and Bundaberg – outside of the Greater Brisbane area.
In Queensland, the top suburbs targeted by first-home buyers included:
1. 4350 – Toowoomba and its surrounds
2. 4207 – Beenleigh and Yarrabilba
3. 4300 – Springfield Lakes and Goodna.
![A view over the suburb of Mount Claremont, east towards the CBD of Perth.](https://cdn.mozo.com.au/images/atwood/14501/GettyImages-976529172.png)
Western Australia
According to Kerr, southeast Perth’s popularity amongst first-home buyers is growing due to its access to transport infrastructure, schools, and the natural environment.
“Perth’s southeast is growing rapidly, with good access to transport corridors and employment, as well as affordable and sustainable housing. Recently opened schools and access to parks and bushland give first home buyers in Harrisdale access to the suburban lifestyle with the chance to escape the hustle and bustle.”
WA’s top suburbs for first-home buyers were:
1. 6112 – Armadale and Harrisdale
2. 6061 – Balga and Nollamara
3. 6164 – Success and Cockburn Central.
![Aerial view City of Adelaide with treelined inner northern suburbs in foreground, Mt Lofty ranges in background.](https://cdn.mozo.com.au/images/atwood/14501/GettyImages-1368692875.png)
South Australia
In SA, the southern suburbs of Adelaide proved to be the target of many first-home buyers, due to the transport infrastructure used to commute into the CBD and access to nature.
“Adelaide’s southern suburbs continue to be in-demand locations for South Australian first home buyers. Transport upgrades make Morphett Vale, Woodcroft and Hallett Cove even more attractive places to live and commute into the CBD. Mt Barker is a gem in the Adelaide Hills, providing easy access to growing amenities and fresh air.”
SA’s most popular suburbs for first-home buyers were:
1. 5162 – Morphett Vale and Woodcroft
2. 5158 – Hallett Cove and O’Halloran Hill
3. 5251 – Mount Barker.
Tasmania
In Tasmania, the most popular suburbs for first-home buyers were:
1. 7320 – Burnie, Acton and Camdale
2. 7011 – Berriedale and Chigwell
3. 7310 – Devonport and East Devonport.
Australian Capital Territory
In the ACT, the most popular suburbs for first-home buyers were:
1. 2602 – Dickson and Watson
2. 2913 – Casey and Franklin
3. 2617 – Bruce and Lawson.
Northern Territory
In the NT, the most popular suburbs for first-home buyers were:
1. 0810 – Nightcliff and Casuarina
2. 0870 – Alice Springs and Gillen
3. 0832 – Rosebery and Bakewell.
If you’re a first-home buyer you’ll want to be informed about the home loan process, especially when it comes to matters like home loan approvals. But before you go and submit an application, it’s important to compare home loan options. Get started with some of your options below, or head over to our award-winning home loans page to see the best home loans in Australia in 2023.
Home loan comparisons on Mozo
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5.90
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$2,995
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5.99
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5.90
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$0
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6.14
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6.16
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6.14
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6.09
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6.11
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$3,027
Competitively-priced variable rate loan. Ideal for owner occupiers and investors. No service fees to pay. Make free extra repayments and redraws. Flexible repayment schedule available.
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6.09
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6.11
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$250
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6.09
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6.13
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$3,027
Refinancers or first home buyers pay no monthly or annual fees. Up to $3,000 cashback when you complete your home loan application online. $2,000 cashback on loans ≥$250K; or $3,000 cashback on loans ≥$500K. LVR ≤80%. T&Cs and credit criteria apply.
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6.09
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6.13
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- Upfront fees
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$595
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$250.00
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Optimum Fixed Rate Home Loan
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5.69
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6.34
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$2,899
Lock in a competitive interest rate and enjoy peace of mind for the fixed period. Available for owner occupied new and refinanced home loans with at least 20% deposit. Split option available as well as offset and redraw. Noapplication, ongoing or banking fees. Third Party fees may be applicable - payable within loan repayments. Extra repayments up to $20K per annum permitted. Apply online, 100% member owned credit union.
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5.69
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6.34
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$0
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Read our Mozo Review to learn more about this South West Slopes Bank Optimum Fixed Rate Home Loan
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Unloan Variable
- Owner Occupier
- LVR <80%
- Interest rate
-
5.99
%
p.a.
Variable
- Comparison rate
-
5.90
%
p.a.
- Initial monthly repayment
-
$2,995
Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for borrowers. No application or banking fees. No monthly account keeping or early exit fees. Apply online in minutes.
- Interest rate
-
5.99
%
p.a.
Variable
- Comparison rate
-
5.90
%
p.a.
- Upfront fees
-
$0
- Ongoing fees
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5.99
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6.02
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$2,995
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5.99
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6.02
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$300
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$395.00
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no
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Flex Home Loan
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5.99
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- Comparison rate
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6.34
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$2,995
Competitive Fixed rate. Multiple offset accounts available. Borrowers can also make extra repayments. Redraw facility available. Simple online application process. 40% deposit required.
- Interest rate
-
5.99
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6.34
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- Upfront fees
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$250
- Ongoing fees
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$250.00 yearly
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$300.00
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Read our Mozo Review to learn more about this ubank Flex Home Loan
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Express Home Loan
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6.01
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- Comparison rate
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6.14
%
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- Initial monthly repayment
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$3,001
Get online approval from the award-winning Bendigo Bank Express Home Loan. Multiple offset accounts and redraw available. 100% offset on variable rate loans and partial offset on fixed rate. Flexible repayment options. New home loans only.
- Interest rate
-
6.01
%
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- Comparison rate
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6.14
%
p.a.
- Upfront fees
-
$134
- Ongoing fees
-
$10.00 monthly
- Discharge fee
-
$350.00
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yes - free
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yes - free
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-
yes
- Maximum loan to value ratio
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Neat Home Loan
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- Interest rate
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6.09
%
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- Comparison rate
-
6.11
%
p.a.
- Initial monthly repayment
-
$3,027
Competitively-priced variable rate loan. Ideal for owner occupiers and investors. No service fees to pay. Make free extra repayments and redraws. Flexible repayment schedule available.
- Interest rate
-
6.09
%
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Variable
- Comparison rate
-
6.11
%
p.a.
- Upfront fees
-
$250
- Ongoing fees
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$0.00
- Discharge fee
-
$300.00
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Special Real Deal Home Loan
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6.09
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Variable
- Comparison rate
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6.13
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- Initial monthly repayment
-
$3,027
Refinancers or first home buyers pay no monthly or annual fees. Up to $3,000 cashback when you complete your home loan application online. $2,000 cashback on loans ≥$250K; or $3,000 cashback on loans ≥$500K. LVR ≤80%. T&Cs and credit criteria apply.
- Interest rate
-
6.09
%
p.a.
Variable
- Comparison rate
-
6.13
%
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- Upfront fees
-
$595
- Ongoing fees
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$0.00
- Discharge fee
-
$250.00
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yes - free
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yes - fees apply
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no
- Maximum loan to value ratio
- 80.00%
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- $150,000
- Maximum borrowing amount
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- Type of mortgage
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Basic Home Loan
- Owner Occupier
- LVR<60%
- Principal & Interest
- Interest rate
-
6.14
%
p.a.
Variable
- Comparison rate
-
6.16
%
p.a.
- Initial monthly repayment
-
$3,043
Enjoy a low rate home loan with $0 application fee and $0 ongoing fees. Flexibility to split your loan and set different repayment types. Fee free redraw from your loan using online banking. Flexible ways to repay. 40% Deposit required.
- Interest rate
-
6.14
%
p.a.
Variable
- Comparison rate
-
6.16
%
p.a.
- Upfront fees
-
$350
- Ongoing fees
-
$0.00
- Discharge fee
-
$400.00
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Offset account
-
no
- Maximum loan to value ratio
- 60.00%
- Minimum borrowing amount
- $150,000
- Maximum borrowing amount
- $10,000,000
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- Variable
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Flex Home Loan
- Owner Occupier
- Principal & Interest
- LVR <60%
- Interest rate
-
6.14
%
p.a.
Variable
- Comparison rate
-
6.38
%
p.a.
- Initial monthly repayment
-
$3,043
Competitive variable rate. Multiple offset accounts available. Borrowers can also make extra repayments. Redraw facility available. Simple online application process. 40% deposit required.
- Interest rate
-
6.14
%
p.a.
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- Comparison rate
-
6.38
%
p.a.
- Upfront fees
-
$250
- Ongoing fees
-
$250.00 yearly
- Discharge fee
-
$300.00
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yes - free
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-
yes - free
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-
yes
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- 60.00%
- Minimum borrowing amount
- -
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- -
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Offset Home Loan
- Owner Occupier
- LVR<60%
- Principal & Interest
- Interest rate
-
6.14
%
p.a.
Variable
- Comparison rate
-
6.39
%
p.a.
- Initial monthly repayment
-
$3,043
Ability to open up to 10 offset accounts per loan account. Fast online application. Linked Debit Mastercard® with fee-free access at ATMs across Australia. Package a credit card with your home loan and the annual card fee will be waived (T&Cs apply). 40% deposit required.
- Interest rate
-
6.14
%
p.a.
Variable
- Comparison rate
-
6.39
%
p.a.
- Upfront fees
-
$350
- Ongoing fees
-
$248.00 yearly
- Discharge fee
-
$400.00
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Offset account
-
yes
- Maximum loan to value ratio
- 60.00%
- Minimum borrowing amount
- $150,000
- Maximum borrowing amount
- $10,000,000
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Read our Mozo Review to learn more about this Macquarie Offset Home Loan
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Basic Home Loan
- Fixed
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- Interest rate
-
6.25
%
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Fixed 3 years
- Comparison rate
-
6.20
%
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- Initial monthly repayment
-
$3,079
No upfront or ongoing fees. Free extra repayments and redraw facility. Option to earn Qantas points. Min 30% deposit required. Borrow up to $10,000,000.
- Interest rate
-
6.25
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Fixed 3 years
- Comparison rate
-
6.20
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- Upfront fees
-
$350
- Ongoing fees
-
$0.00
- Discharge fee
-
$400.00
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-
yes - up to $10,000 p.a.
- Redraw facility
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yes - free
- Offset account
-
no
- Maximum loan to value ratio
- 70.00%
- Minimum borrowing amount
- $150,000
- Maximum borrowing amount
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Offset Home Loan
- Fixed
- Owner Occupier
- Principal & Interest
- LVR <70%
- Interest rate
-
6.25
%
p.a.
Fixed 3 years
- Comparison rate
-
6.42
%
p.a.
- Initial monthly repayment
-
$3,079
- Interest rate
-
6.25
%
p.a.
Fixed 3 years
- Comparison rate
-
6.42
%
p.a.
- Upfront fees
-
$350
- Ongoing fees
-
$248.00 yearly
- Discharge fee
-
$400.00
- Extra repayments
-
yes - up to $10,000 p.a.
- Redraw facility
-
yes - free
- Offset account
-
yes
- Maximum loan to value ratio
- 70.00%
- Minimum borrowing amount
- $150,000
- Maximum borrowing amount
- $10,000,000
- Type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Monthly
- Special offers
- -
Read our Mozo Review to learn more about this Macquarie Offset Home Loan
-
Fixed Rate
- Owner Occupier
- Principal & Interest
- <80% LVR
- Interest rate
-
6.54
%
p.a.
Fixed 2 years
- Comparison rate
-
7.10
%
p.a.
- Initial monthly repayment
-
$3,174
Enjoy up to $3000 cashback for eligible first home buyers and $2000 cashback for refinancers on eligible home loans with the ANZ Fixed Rate Home Loan. Get the security of repayment certainty with a competitive locked in rate. No ongoing fees to pay. Offset account on 1-year fixed loans ($10/month fee applies). Interest-only payments allowed.
- Interest rate
-
6.54
%
p.a.
Fixed 2 years
- Comparison rate
-
7.10
%
p.a.
- Upfront fees
-
$160
- Ongoing fees
-
$0.00
- Discharge fee
-
$160.00
- Extra repayments
-
yes - free up to to lesser of 5% of original fixed loan amount, or $5,000 each year
- Redraw facility
-
no
- Offset account
-
Optional - $10 per month - 1 year fixed term only
- Maximum loan to value ratio
- 80.00%
- Minimum borrowing amount
- $20,000
- Maximum borrowing amount
- -
- Type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special offers
- $3,000 cashback for eligible First Home Buyers, $2,000 cashback when you refinance loans of $250k+, apply from 1 Dec 2022, settle within 180 days.
Read our Mozo Review to learn more about this ANZ Fixed Rate
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