The Hoff boosts ANZ home loan applications as IO borrowers drop away
The ANZ has seen a sharp boost in its home loan applications.
It credits some of the success to its recent advertising campaign featuring The Hoff.
The marketing was along the lines that the "offer so good" you didn't need a celebrity.
ANZ ran a cheesy campaign featuring David Hasselhoff to promote a home loan that offers bonus Qantas Points.
This campaign promises 300,000 bonus Qantas Points for an ANZ home loan of $300,000 or more.
They've also trimmed their interest only portfolio significantly over the last two years.
Owner occupier interest only loan amounts have dropped from $33 billion to $14 billion over two years.
Investors interest only loans have dropped by nearly half, down from $49 billion in 2017 to $26 billion in 2019.
Owner occupier principal and interest has grown over the year, with $156 billion worth of loans rising to $164 billion.
Investor principal and interest also rose by $5 billion in the last 12 months.
The details came when the ANZ reported its latest profit, $6.47 billion, which analysts said was flat.
