| Home Loan Lender |
 |
AMP Home Loan |
|
| Home Loan Product Name |
Classic V/R |
| Interest Rate |
7.87% |
Comparison Rate
Estimated |
8.03% |
| Amount |
$150,000 |
| Term |
30 years |
Monthly Payment
Estimated |
$1,087.08 |
Total Paid
Estimated |
$395,270 |
| Establishment Fee |
$350.00 |
| Enquire/Apply |
 
|
| Target Market |
Total loans less than $100K |
| 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 loans greater than $2m refer to BDM. |
| Repayment Type |
Principal & Interest
,
Interest Only |
| Repayment Options |
Principal & Interest - Weekly, Fortnightly, 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. |
| Offset |
Yes 100% Mortgage Offset, no account keeping or domestic transactions fees and no minimum balance. |
| Redraw Facility |
BankNet No minimum redraw amount. |
| LVR |
Owner Occupied Maximum LVR100%
,
Investment Maximum LVR 95%
,
Construction Maximum LVR 0%
,
Refinancing Maximum LVR 95%
,
Debt consolidation Maximum LVR 90% up to 5 debts
,
Over $1M subject to security location and maximum LVR allowable. |
| Fees |
Establishment Fee of $350
,
Settlement Fee of $250 plus Solicitors Fee $295 (Displayed Mortgage Prep Fee)
,
Account Keeping Fee $10 per month
,
LMI processing Fee $100 (in addition to any LMI premium payable)
,
Deferred Establishment Fee $ 1,000 if discharged within 4 years from original
,
Additional Deferred Establishment Fee (for Intro 1 yr loans only): 1% if discharged within two years 1-2 in lieu of the $1000 DEF above, however the $1000 still applies for years 3-4.
,
Pre Approval Fee $350
,
Master Limit Application Fee $200
,
Valuation fees -First is free. For valuations <$1M customers pays costs in excess of $220 for metro and $330 for non-metro. For $1M customer pays costs in excess of $550 in all areas.
,
Loan Variation Fee / Switch / Increase Fee $350 |
| Enquire/Apply |
|