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Property settlement and beyond

Purchasing, settling and how you can manage your home loan

Property settlement: What is it and how does it work?

Property settlement is the final few steps to owning a home. This is pretty important stuff, so we’ll explain what it is and give you a few tips.

 

Pre-settlement inspections

Before settlement, you’ll need to inspect the property and make sure everything’s in order. Here are some tips on what to look out for and what to do if things aren’t quite right.

 

What’s the difference between redraw and offset?

Redraw facilities and offset accounts have many similarities. But there are some important differences too.

 

Redraw facilities: the what, why and how

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. So how does it work?

 

Offset accounts explained

An offset account can be a good way to reduce the interest charged on your home loan, while also giving you access to your money whenever you need it. Here’s an explanation of how they work.

 

The documents you need for your home loan application

It can seem like a home loan application involves endless paperwork. You can make the process smoother by organising your documents before your start your application.

 

When and how to pay your deposit

The day you finally save enough for your deposit is a big milestone for a first home buyer. But once you’ve got the money together, what do you actually do with it?

 

How extra repayments could help pay off your loan sooner

When you take out a mortgage, 30 years of repayments may feel like a daunting prospect. But take heart. There are some simple strategies that could reduce your loan period and save you thousands of dollars in interest.

 

Why bank valuation and purchase price can differ

When you buy a property you might assume you’ve paid market value for it. More often than not you’d be right.

But in some cases your mortgage lender may value the property at less than the purchase price. Here’s an explanation of why this occurs and what to do if it happens to you.

 

Find a First Home Coach to support you

Connect with a First Home Coach who'll guide you through the process of buying your first home ­­ from start to finish.

Talk to a First Home Coach on the phone, or drop in for a chat at one of our ANZ branches.

Find a branch near you1300 295 951

Our First Home Coaches can also come to you, at a time and place that’s convenient.

All applications for credit are subject to ANZ's credit approval criteria. Terms and Conditions apply and are available on application. Fees, charges and eligibility criteria apply. 

Any advice 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 Financial Services Guide (PDF 104kB) before acquiring any product.