Common use of Interest Rate and margin changes Clause in Contracts

Interest Rate and margin changes. The variable ANZ interest rates can be changed at any time including the period between the date of your Letter of Offer and the Date of Drawdown. Your repayments may change if interest rates change. If your Letter of Offer provides for an interest rate margin, that margin is not guaranteed for the life of your loan. You can apply for a review of your margin at any time (though the results of any review are not guaranteed and your margin may increase or decrease). If you vary your Loan Agreement, your margin may increase or decrease. A change to a positive margin will be confirmed to you in writing. ANZ can review, amend, or remove your margin at any time by giving written notice. If the Security you are providing to ANZ is over bare land (with no dwelling on it), you may have an additional margin to reflect that the Security is over bare land.