ANZ

ANZ Equity Release

ANZ Equity Release is a reverse mortgage and is designed for people aged over 60 years who want to turn the equity in their home into a ready source of funds. With ANZ Equity Release, the funds can be used for almost anything you wish: topping up your retirement income, paying bills, buying a new car or simply rewarding yourself now and then.

Best of all, you are not required to make regular repayments over the life of the loan.

Variable Rate*

10.15% p.a. Comparison Rate 10.20% p.a.

4 year Fixed Rate*

10.25% p.a. Comparison Rate 10.21% p.a.

Loan term

The term of the loan continues until whichever of the following occurs first:

(a) the sale or transfer of the security property, or (b) 12 months from the passing of the last surviving borrower. This assumes you are not in default under the terms of the loan contract.

Minimum amount

$20,000

Maximum amount

$750,000

Maximum percentage of the home's value that can be borrowed based on the age of the youngest borrower.

AGE	%	AGE	%	AGE	%
60	15	72	27	84	39
61	16	73	28	85	40
62	17	74	29	86	41
63	18	75	30	87	42
64	19	76	31	88	43
65	20	77	32	89	44
66	21	78	33	90	45
67	22	79	34	91	46
68	23	80	35	92	47
69	24	81	36	93	48
70	25	82	37	94	49
71	26	83	38	95	50

Flexible draw down options	You can choose when and how you wish to release the equity in your home: as a lump sum to pay for large expenses or one-off purchases like a new car or an overseas trip regular monthly payments to supplement your retirement income cash reserve combination If you are on a fixed interest rate term, you can only draw down the funds as a lump sum.

No Negative Equity Pledge**	This protects you from owing more than the value of your property, even if your loan amount ends up being more than the value of your property at the end of the loan term.

Inheritance Protection Option**	This lets you protect up to 30% of the property's value at no additional cost, for future use.

Repayments	Principal or interest repayments are not required throughout the loan term. The loan must be fully repaid at the end of the loan term.

Loan Approval Fee	$800

Monthly Fee	$8

ANZ Equity Release Fees and Charges.

ANZ strongly recommends that you seek independent financial advice before acquiring the product and that you ensure that ANZ Equity Release is appropriate for your needs and circumstances.

For more information or to apply, please contact our dedicated ANZ Equity Release Specialist team on 1800 210 355, 8.30am to 6.00pm (AEST), Monday to Friday.

Information current as at July 2007. *Comparison rate is for a loan of $150,000 over 25 years. 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. A copy of the Comparison Rate Schedule is available by calling 1800 210 355 or view it online ANZ Comparison Rate Schedule (PDF, 36kb). **Terms and conditions apply. Credit approval criteria and fees and charges apply. Terms and conditions available on application.

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© Copyright Australia and New Zealand Banking Group Limited (ANZ) 100 Queen Street, Melbourne 3000, ABN 11 005 357 522, 1996-2008. ANZ's colour blue is a trade mark of ANZ. Any advice does not take into account your personal needs and financial circumstances and you should consider whether it is appropriate for you.
ANZ recommends you read the Product Disclosure Statement and the Financial Services Guide before acquiring the product.

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