| Home Loan Lender |
 |
AMP Home Loan |
|
| Home Loan Product Name |
Basic Variable Rate LVR >95% |
| Interest Rate |
8.97% |
Comparison Rate
Estimated |
9.02% |
| Amount |
$150,000 |
| Term |
30 years |
Monthly Payment
Estimated |
$1,203.70 |
Total Paid
Estimated |
$433,790 |
| Establishment Fee |
$350.00 |
| Enquire/Apply |
 
|
| Target Market |
|
| Acceptable Income |
PAYG, Self Employed, Salary & Wage Earners. |
| Loan Term |
Minimum Principal & Interest - 10 years; Interest Only selected IO period
,
Maximum Interest Only term 5 years (10 years subject to Credit approval)
,
Maximum total term- 30 years |
| Loan Size |
Minimum loan $40K
,
Maximum Loan $2M
,
For greater than $2M refer to BDM. |
| Repayment Type |
Principal & Interest,
,
Interest Only |
| Repayment Options |
Principal & Interest - Weekly, Fortnightly or Monthly.
,
Interest Only - Monthly |
| Extra Repayments |
|
| Split Loan Facility |
Yes available up to 10 splits for free with min $10,000 per split.
,
Additional Splits available are Fixed Rates, Basic Variable and Business Classic Loans.
,
$75 per additional split (Fees are waived if Basic is taken under Pro Pack). |
| Offset |
Yes 100% Mortgage Offset, no account keeping or domestic transactions fees and no minimum balance. |
| Redraw Facility |
Yes. No minimum amount and no charge via BankNet and BankPhone. Via BankAssist operator a $50 fee and $2k minimum. |
| LVR |
Owner Occupier Maximum LVR100%
,
Investment Maximum LVR 95%
,
Construction Maximum LVR 0%
,
Refinance Maximum LVR 95%
,
Debt Consolidation Maximum LVR 90% up to 5 other debts
,
Vacant Land Maximum LVR 0%
,
Over $1M subject to security location & and maximum LVR allowable. |
| Fees |
Establishment Fee of $350 for LVR>95%
,
Establishment Fee Nil if LVR<95%
,
Settlement Fee of $250 plus Solicitors Fee $295 (Displayed Mortgage Prep Fee)
,
Pre Approval Fee $350
,
Monthly Account Management Fee $0
,
Redraw Fee $0 ($0 via BankNet and BankPhone. Via Bank Assist its $50 fee and minimum $2000 redraw)
,
LMI processing Fee $100 (in addition to any LMI premium payable)
,
Additional Deferred Establishment Fee: 1% if discharged within two years 1-2 in lieu of the $1000 DEF above, however the $1000 still applies for years 3-4.
,
Valuation fees First is free. For valuations <$1M customers pays excess of $220 for metro and $330 for non-metro. For $1M customer pays excess of $550 in all areas.
,
Loan Variation Fee / Switch / Increase Fee $350
,
Master Limit Application Fee $200 |
| Enquire/Apply |
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