This loan is suitable for
A person who is self employed - Refer to Lending Quick Reference Guide for details. All applicants (including directors and trustees) must provide personal and company tax returns (that have been lodged with the ATO) for the last 2 financial years. Balance Sheets and Profit and Loss Statements for last 2 financial years must be provided. A minimum of one financial year's Tax Assessment Notices must be provided to verify the financial information in the financial statements. Financial information for the previous three years is preferred.
When:
- Income from the latest financial year has increased by less than or equal to 20% of the previous year, then the latest year's income is used
- Income from the latest financial year is ore than 20% of the previous year, then a maximum of 120% of the previous year's income is used
- Income form the latest financial year is less than the previous year, the lower of the two figures is used. .
Available for people who will live in the property.
Suitable for people looking for a residential investment loan.
A guarantor can be used - Must have one of the following relationships with the borrower:
- Partner of the borrower (defacto accepted)
- Refer to the Lending Quick Reference Guide for Company and Trust Guarantor requirements
No outside third parties
Guarantors will be required to obtain independent legal advice and may be required to obtain independent financial advice.
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Home Loan Loan Term
Loan term up to 1 years
Home Loan Loan Size
For loans with a minimum value of $40,000 and a maximum of $850,000
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Repayment Options
Monthly repayments accepted.
Extra Repayments
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Split Loan Facility
Not available.
Offset
Not available.
Redraw Facility
Not available.
LVR for Variable Rate Home Loans - AMP - Construction Loan
Maximum available LVR is 90%
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Fees for Variable Rate Home Loans - AMP - Construction Loan
Monthly Fee $10.00
Annual Fee $0
Establishment Fee $350
Discharge Fee $250
Legal Fee $295
Portability Fee $0
Settlement Fee $250
Switching Fee $350
Early Termination Fee $0
Optional Fees include:
Pre-Approval Fee - $350
LMI Processing Fee - $100
Guarantor Admin Fee - $200
Increase in loan limit - $350
Loan Variation Fee - $350
Additional Security Fee - $250
Progress Payments - $100 each
Refer to link@AMPFeeAndChargesGuide.pdf@Fees_and_Charges_Guide for other less common fees.
