AMP Essential Home Loan AMP Essential Home Loan <$100K (PAYG and Self Employed) (Owner Occupied)
4.62%p.a Basic Variable
Repayments calculated to take into account ongoing monthly and anual fees.
- Monthly repayment*
- rate per annum
Loan to Value Ratio
Borrow up to the maxium of 90% of the value of the property.
Lenders Mortgage Insurance, or LMI, will be payable on most loans where the borrowings are greater than 80% of the value of the property.
However, you may be able to capitalise LMI into your loan, increasing the overall loan amount by about 2% (in order to cover the cost of the insurance). Contact a loan market broker to find out how LVR and LMI might impact the cost of your loan repayments.
- Capitalise LMI
For Equity and Owner Occupied in NSW, NT, QLD, SA, WA, VIC, TAS, and ACT.
- 10 - 30 years
The level of financial documentaion and credit history required to apply for the loan.
- Full Doc
- Credit History
- Genuine Saving
Save on interest repayments by holding spare cash in an offset account.
- Offset account
Get quick access to cash by drawing on the loan to pay for renovations or other purchases.
- Redraw Facility
- Min Redraw
- Redraw fee
Given the wide range of loans on offer – with different interest rates, product features and fees – it pays to shop around to find the loan that fits your needs and circumstances. Some loans offer features that may be appropriate for your situation and result in savings over the life of the loan.
Some features you may wish to consider include:
- an offset account;
- ability to make extra repayments;
- a redraw facility; and
- linked credit card and savings accounts;
- ability to split your loan between fixed and variable interest rates
- Offset Account
- Redraw Available
- Credit Card
- Internet Banking
- Telephone Banking
- BPay Option
- Portability of Loan
- Professional Pack
- Check Account
- Direct Salary Credit
- Free Transactions
- Minimum Redraw
- Redraw Fee
You can make your repayments Fortnightly, Monthly, and Weekly.
- Interest Only Option
- Max Interest Only
- 0 years
Upfront fess associated with estabilishing the loan. Other loan set-up fees, such as valuation fees and lender's mortgage insurance, and Government charges, such as registration fees and stamp duty on property transfer, have not been included. These will be determined after application.
Monthly and annual fees and charges during the loan period.
Fees associated with prematurely ending the loan.
- Early Repayment
- Switch To Fixed
OTHER PRODUCT INFORMATION: A highly competitively priced variable rate home loan, suited to customers that do not need a loan with a long list of features but still want the essentials including flexibility, the ability to make additional repayments and access to redraw. Key Features - Competitive interest rate. - No ongoing monthly account management fees. - Split loan available with up to 10 AMP Essential Home Loans (split fees apply). - Available to personal customers only. - Principal and Interest payments only. - Single residential security property - owner occupied or investment. Fee-free unlimited view only access (excluding BPAY) to: - Internet banking - Mobile banking - BankPhone Splits - Cannot be split with any other product type. - Can ONLY be split with another AMP Essential Home Loan
LMI required >80% LVR. 90% plus capitalised LMI - max LVR is not inclusive of LMI. Maximum LVR inclusive of LMI capitalisation is subject to AMP and Genworht's discretion. Existing customers purchasing an O/O property - 95% plus cap LMI P&I only.
For property purchases >85% LVR, borrowers must contribute a minimum of 5% of the purchase price saved / held over a minimum 3 month period fo the last 3 months. Acceptable forms of savings include: -Funds in bank accounts/term deposits -Shares -Equity in residential property -Sale proceeds from residential property -Deposit paid for the property more than 3 months ago For more information please contact your Business Development Manager.
Quoted exit fee includes Solicitors and Mortgage Processing Servicers Discharge Costs. $295 Master Limit Application Fee applies where Master Limit requested. Guarantor Administration Fee of $200, LMI Processing Fees of $100 payable where applicable. - Loan Split fees waived up to 10 splits - Solicitors fee $295 Valuation Fee Valuation fee is payable when the valuation costs are in excess of: Valuations less than $1 million Metropolitan areas $220 Non-Metropolitan areas $330 Valu