Basic Variable Rate Loan Basic Variable Rate Loan - EXISTING CUSTOMERS - LVR >90% to 95% (Owner Occupied)
3.98%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 95% 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", "Owner Occupied"], in ["NSW", "NT", "QLD", "SA", "WA", "VIC", "TAS", "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 repaments Fortnightly, Monthly, and Weekly.
- Interest Only Option
- Max Interest Only
- 5 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
PRE-APPROVAL FEES WAIVED For a limited time, AMP is waiving the $350 Pre-Approval Fee for all new Pre-Approval applications. OTHER PRODUCT INFO: Maximum LVR of 95% only available for existing AMP customers where the purpose is to purchase an owner occupied property. An existing customer is someone who has held an AMP Bank mortgage for a minimum of 6 months. A simple, easy to manage mortgage package with a highly competitive variable rate loan plus a choice of fixed rate loans with terms of 1, 2, 3 or 5 years. This package will appeal to customers who want a simple, low cost loan. It can be combined with fixed rate loans and can also include a 100% mortgage offset against a variable rate split. Salary Crediting available directly into account. Unlimited free electronic banking transactions on Basic Variable Rate Loans via BankNet and BankPhone (including redraw, direct debit and direct credit with no minimum). Redraw available - limited access options. No access to BPAY. Available in personal, company or trust names for owner occupied purposes. Choice of P&I and IO repayments. Loans from $40,000 to $2 million. Contact AMP for higher amounts. Choose a combination of fixed and variable, and the first 2 splits are free. The Split Loan Annual Fee is payable per annum on the 3rd and each subsequent split. Up to 10 splits available. 100% Mortgage Offset available (mortgage offset against a variable rate split) with zero opening balance, unlimited free transactions including rediATM/EFTPOS, BankNet, BankPhone, direct debit, direct credit, BPAY and cheque book. (No credit interest is payable. Other ATM providers fees may apply to ATM transactions at non-rediATMs. Fees also apply for international transactions and special services). Repayments must be Monthly on Interest Only loans
Maximum LVR excluding LMI 80% Maximum LVR 90% (for existing clients max LVR is 95% where the purpose is to purchase an owner occupied property plus capitalised LMI premium subject to approval - standalone security only. An existing customer is someone who has held an AMP Bank mortgage for a minimum of 6 months) for any acceptable purpose up to $850K for zone 1, up to $600K for zone 2, up to $450K for zone 3 and zone 4 is considered on a case by case basis. Additional interest margin applies to any loans with an LVR >90%.
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. Split Loan annual fee $75 per additional split (first 2 splits free). Guarantor Admin Fee ($200), LMI Processing Fees ($100). Switch Fee: $350.