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Find ANZ Support Centre

Renovating my home

Got a plan and a vision for your existing home? We can help turn those home renovation dreams into reality.

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Talk to us about how to finance your renovation

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Ways to finance your home renovation

Top up your existing variable rate loan

You may be able to borrow additional funds against your existing home loan, subject to credit approval. Please contact us to enquire about a top up to pay for your renovation.

Make use of your equity with a supplementary loanSuperscript: 1

If you have equity in your existing home or investment property, you can access it with a supplementary loan. Choose from eligible ANZ loans (ANZ Standard Variable, ANZ Simplicity PLUS or ANZ Fixed). Then you can use that money for a variety of different purposes according to your needs.

Redraw your extra repayments to fund your renovations

ANZ Redraw could let you access extra payments you’ve made to an eligible loan when you need to.Superscript: 2 You can easily access your redraw funds via ANZ Internet Banking and other convenient ways.

Use the money in your offset account

If you have money in an ANZ One offset accountSuperscript: 3, consider using these funds to pay for your renovation. You can leave the money there, offsetting your home loan, until it's time to make a payment.

The information on this page does not apply to ANZ Plus products

Unlock your equity

 

Free ANZ Property Profile and Equity Report

You may have equity you could access to borrow for renovations, build a house, or to purchase an investment property. Our free ANZ Property Profile and Equity Report can help you understand how much equity you may have and how you could use it.Superscript: 4

Learn more

 

Compare your options with our Next Home Tool calculator

Whether you're looking to sell your property and purchase a new one or looking to renovate your current property, our next home tool will allow you to:

  • Easily create multiple scenarios by selecting your next home options
  • Crunch the numbers of each scenario side by side
  • Compare each scenario to assist with your next home decision

Let's get started

 

Are you thinking of a major renovation?

If you're planning a structural renovation (generally, when it's something that will require council approval or a building permit), you should apply for a construction loan instead.

With a construction loan, you can progressively draw funds as required during the renovations, to help you save on interest.

How construction loans work

Explore our home loansSuperscript: 5

  • Payment type:

Basic variable

6.14% p.a.Superscript: 6

6.14% p.a.

Principal & interest

Comparison rateSuperscript: 7

Interest rate with special offer discountSuperscript: 6when borrowing 60% or less of the property value.Superscript: 8

Get a competitive interest rate and basic features (no offset).

ANZ Simplicity Plus

Fees and features

Standard variable with optional offsetSuperscript: 3

6.99% p.a.Superscript: 9

6.99% p.a.

Principal & interest

Comparison rateSuperscript: 7

Discounted standard variable rate when borrowing 80% or less of the property value.Superscript: 8

Can I go lower?

Talk to us to find out if a further discount could apply to your standard variable rate, depending on your situation.
 

ANZ Standard Variable

Fees and features

   See all home loan rates Apply online

Connect with our home loan specialists or apply

Need to speak to a specialist?

Provide us with your details and one of our home loan specialists will get in touch. They can discuss issues including:

  • Applying for a home loan
  • Managing your existing loan
  • Refinancing your home loan
  • Interest rate enquiry

As well as any other home loan queries you may have.

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Call back time is 1-3 business days.

Request a call back

 

Quick start application

Begin your home loan application journey by providing details about:

  • You
  • Your financial situation
  • The loan you're applying for

One of our home loan specialists will then be in touch to progress with your application.

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Call back time is 1-3 business days.

Apply online

 

Call us

Monday - Friday 8am to 7pm (Sydney/Melbourne time)

1800 100 641 

 

Other ways to get in touch

Meet with a mobile lenderSuperscript: 11

Book an appointment

Book a First Home Buyer Coach

You've got questions
We've got answers.

Interest is calculated based on the unpaid daily balance of your loan. For example, if you had a loan balance of $400,000 and your interest rate was 3% p.a., your interest charge would be $400,000 x 3% divided by 365 days = $32.87 for that day. For most ANZ home loans, interest is usually calculated daily and charged monthly. 

For details refer to the ANZ Consumer Lending Terms and Conditions (PDF) and your letter of offer.

  

A comparison rate is designed to help you work out the total cost of a home loan by building the known costs like up-front and ongoing fees into that rate. It doesn’t include things like government charges, redraw fees or fee waivers. 

You can use comparison rates to help you compare the cost of different home loans with similar features. When deciding which home loan is right for you, it’s important to think about what features each home loan offers, and how much these matter to you. Keep in mind that you may not necessarily pay the comparison rate that is advertised for your loan type.  This is because, for example, you may not pay all the fees and charges which the comparison rate includes.

  

If you choose interest only, the minimum payment amount on your loan will be lower during the interest only period because you are not required to repay any of the loan principal. You will have to repay the principal down the track and so you may end up paying more over the life of your loan. There may be additional restrictions on the amount you can borrow or loan type you can select if you choose to pay interest only.

Choosing to repay principal and interest means that, with each repayment, you're paying off interest charges as well as some of the loan principal.

Learn more about payment types.

  

LVR stands for 'Loan to Value Ratio' and it's the amount you’re looking to borrow, calculated as a percentage of the value of the property you want to buy (as assessed by ANZ). For instance if you’re borrowing $400,000 to buy a $500,000 property, your LVR would be 80% (because $400,000 is 80% of $500,000).

LVR is important because it may affect your borrowing power. Generally, the lower the LVR the better, as it carries less risk for the lender. If your LVR is above 80% (that is, you're looking to borrow more than 80% of the value of the property you want to buy), you may need to pay Lenders Mortgage Insurance (LMI). This insurance protects the lender - ANZ, not you - if you default on your home loan and there’s a shortfall following the sale of the property. Generally speaking the higher your LVR, the more LMI will cost.

Learn more about ANZ LMI with our Key Fact Sheet (PDF) or read our article on Lenders Mortgage Insurance.

*Property value is ANZ's valuation of the security property and may be different to the price you pay for a property.

  

All our eligible fixed and variable rate home loans come with a discount off the index rate applied upfrontSuperscript: 12(without needing to pay an annual home loan package fee). The interest rates shown here include those discounts.

If you’re considering our Standard Variable home loan, you may be able to access a further discount off the index rate than shown above, depending on your situation. This is because the rate discount you can access for this home loan depends on your Loan to Value Ratio (LVR) and other financial circumstances. To find out if you could access a lower rate for our Standard Variable loan, have a no-obligation chat with one of our specialists.

You might also be interested in

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Common dilemmas for homeowners considering their next move

4 minute read

There’s a lot to think about when considering your next move. For example, is now the right time to buy a new home? Or perhaps you’re better off staying put and renovating?

  

Article

Using the equity in your home

5 minute read

Equity is the difference between the value of your property and how much you owe on it. Find out how unlocking the equity in your home could open up opportunities.

  

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Redraw facilities: the what, why and how

3 minute read

Redraw lets you access extra principal repayments you’ve made on your loan. This could come in handy if you need some extra cash down the track. 

  

Important information

The information on this page does not take into account your personal needs and financial circumstances and you should consider whether it is appropriate for you and read the relevant terms and conditions, Product Disclosure Statement and the ANZ Financial Services Guide (PDF) before acquiring any product. 

Applications for credit subject to approval. Terms and conditions available on application. Fees and charges apply. Australian credit licence number 234527.

1. Terms and conditions apply including a maximum loan term of 10 years. Minimum loan amounts vary depending on loan type. Fees and charges apply.

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2. Terms and Conditions and eligibility criteria apply to ANZ Redraw. ANZ Redraw is not available on loans in a company name. For further information on ANZ Redraw please refer to the ANZ Consumer Lending Terms and Conditions (PDF).

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3. A $10 servicing fee applies per month per ANZ One offset account. Please refer to ANZ Personal Banking Account Fees and Charges (PDF) for fees and charges that apply.

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4. ANZ Property Profile Reports are not personal advice or a recommendation. They contain general information only and do not take into account personal needs and financial circumstances. They are for personal use only. Price range estimates and estimated total equity are estimates only. They are based on certain available information and/or equity estimates provided when ordering an ANZ Property Profile Report. An ANZ Property Profile Report is not a valuation of the property or a guarantee of its market value or future sale price. Price range estimates may change daily and the actual sale price (if the property is sold) may be different.  Customers should make their own enquiries and obtain independent financial and legal advice before deciding whether to use their equity to invest in property, renovate or deciding the price they are willing to pay for a property. Sales history and past performance are not indicative of future price or performance.

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5. Interest rates shown on this page are current as at Friday, 21 March 2025 and are subject to change. 

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6. The rate shown is the Simplicity PLUS Home Loan index less the applicable special offer discount for loans with a Loan to Value Ratio of 60% or less. Rates are subject to change. Eligibility criteria apply to special offer discounts, including $50,000 or more in new or additional ANZ lending. Offers can be withdrawn or changed anytime.

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7. Comparison rate calculated on a loan amount of $150,000 over a term of 25 years based on monthly payments, including any applicable interest rate discounts. These rates are for secured loans only.

WARNING: This Comparison Rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

For interest only variable loans, the comparison rates are based on an initial 5 year interest only term. For fixed rate interest only loans, the comparison rates are based on an initial interest only period equal in term to the fixed period.

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8. Property value is ANZ's valuation of the security property and may be different to the price you pay for a property.

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9. The interest rate shown includes any applicable interest rate discount from the index rate. For ANZ Standard Variable, the interest rate discount is  1.20% p.a. for loans with a Loan to Value Ratio (LVR) of greater than 80% and 1.40% p.a. for loans with a LVR 80% or less. For applications submitted from 28 October 2024 for ANZ Fixed, there is no interest rate discount for loans with a LVR of greater than 80% and the interest rate discount is 0.45% p.a. for loans with a LVR of 80% or less.

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10. Rates shown apply during the interest only period of your loan. Choose from 1-5 year interest only terms for owner occupied on an ANZ Standard Variable (Land Loan up to three years) and ANZ Fixed (Land Loan up to three years) and choose from 1-5, 7 and 10 year interest only terms for residential investments on an ANZ Standard Variable (Land Loan up to one year), ANZ Fixed (Land Loan up to one year) and ANZ Simplicity PLUS. If you choose to make interest only payments on ANZ Fixed, your fixed period and interest only period will be the same. After the interest only period, your rate will switch to the applicable variable rate for a principal and interest loan. At the end of the interest only period, minimum repayment amounts may increase to cover principal and interest. Interest only loans are not for everyone and you should consider if this is the right strategy for you.

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11. ANZ Mobile Lenders operate as an independently operated ANZ Mortgage Solutions franchise of Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522. Australian Credit Licence Number 234527.

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12. Eligibility criteria applies to the Special Offer discount for ANZ Simplicity PLUS, including $50,000 or more in new or additional ANZ lending. Offers can be withdrawn or changed anytime.

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