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Renovating your home

It's time to make things better

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






Things to consider before you renovate

Need money to renovate? Think about increasing your existing loan

If you need additional funds for your renovation costs, please contact one of our home loan specialists to discuss your options. 

Are you an existing ANZ home loan customer? We can look into a:

You could also consider an ANZ Personal Loan.

Or if you're ahead on your repayments, consider redrawdisclaimer instead

If you've made additional repayments to an eligible loan account, you could apply to access these funds using ANZ Redrawdisclaimer.

Got money sitting in your ANZ One offset account? That could be an option too.

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 renovation, to help you save on interest.

How we may be able to help with your renovation plans

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 loandisclaimer

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.disclaimer 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 accountdisclaimer, 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.

Explore our home loansdisclaimer

ANZ Standard Variable Home Loan


  • Make extra repayments to pay your loan off faster
  • Redraw your extra repaymentsdisclaimer

ANZ Simplicity PLUS Home Loan


  • Competitive variable interest rates and no ongoing fees
  • Make extra repayments any time

ANZ Standard Variable Home Loan


  • Make extra repayments to pay your loan off faster
  • Redraw your extra repaymentsdisclaimer

  • Choose from 1 - 5 years interest only terms

ANZ Simplicity PLUS Home Loan


  • Competitive variable interest rates and no ongoing fees
  • Make extra repayments any time

  • Choose from 1 - 5 years interest only terms

FAQs - get your questions answered

   What are LMI and LVR?

If you're looking to borrow more than 80% of the value of the property you're looking to buy (as determined by ANZ), you may need to pay lenders mortgage insurance (LMI). Banks often call this percentage the ‘LVR’ , which stands for ‘loan to value ratio’. Even though you pay the premiums, lenders mortgage insurance protects the lender (ANZ, not you) if you default on your loan. For some property types, lenders mortgage insurance might be required when the LVR is less than 80%.

Learn more about ANZ lenders mortgage insurance with our Key Fact Sheet (PDF 370kB).

   Should I get an offset account?

If you have money in an everyday banking account, you may choose to move it into an ANZ One offset account. You can link it to your ANZ Standard Variable loan or one-year ANZ Fixed loan to help you save on interest charges. The money you have in ANZ One will offset the amount you owe on your home loan, and you’ll only be charged interest on the difference.

Find out more about offset accounts.

   Principal and interest or interest only?

If you choose interest only, the minimum repayments 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 repayment types.

   How is interest calculated?

Interest is calculated based on the unpaid daily balance of your loan. For example, if you had a loan balance of $150,000 and your interest rate was 6% p.a., your interest charge would be: $150,000 x 6% divided by 365 days = $24.66 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 412kB) and your letter of offer.

Contact us or apply

Quick Start Home Loan Application

Get started in just 5 minutes. Apply for pre-approvaldisclaimer, a new home loan, refinance or top up your existing ANZ home loan.

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Connect with a mobile lender disclaimer

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Visit a branch or ANZ Home Centre

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Call us

1800 100 641

Monday - Friday
8am to 8pm (AEST)


You can also chat to an ANZ accredited broker for help with your home buying, investing or refinancing needs.

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 conditionsProduct 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.

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 412kB).


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


Terms and Conditions, fees and charges apply. Refer to ANZ Personal Account Fees and Charges booklet (PDF 139kB).


Interest rates shown on this page are current as at  and are subject to change. 


The interest rate shown incorporates ANZ Breakfree discounts which apply while you hold an ANZ Breakfree Package and meet ongoing eligibility criteria. Eligibility for interest rate discounts are based on total mortgage lending requirements and Lending to Value Ratio requirements. For details, see ANZ Breakfree Package and the ANZ Breakfree Terms and Conditions (PDF,131KB). 


Property value is ANZ's valuation of the security property and may be different to the price you pay for a property. ANZ Fixed Home Loan discounts when borrowing 80% or less of the property value are available for applications submitted from Monday 15 February 2021.


Comparison rate calculated on a loan amount of $150,000 over a term of 25 years based on monthly payments, including a Breakfree package discount (if applicable). 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.

The repayment calculator does not show all interest rates. Our home loan interest rates page shows all available rates, including special offers and discounts when borrowing 80% or less of the property value.


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


The rate shown is the Simplicity PLUS Home Loan index less the applicable special offer discount. 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.


Rates shown apply during the interest only period of your loan. After the interest only period, your rate will switch to the applicable variable rate for a principal and interest loan.


ANZ may provide pre-approval (also known as approval in principle or conditional approval) to eligible customers who apply for an ANZ home loan and complete an application form and satisfy any other applicable requirements. Pre-approval is an approval for a loan subject to conditions being met, including that security is satisfactory to ANZ. Australian Credit Licence Number 234527.


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.