Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. All products will list the LVR with the product and rate which are clearly published on the Product Provider’s web site. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of .
AMP Bank is a financial services company that was formed in 1849 as the Australian Mutual Provident Society.
AMP was made public in 1998, and it is one of the larger lenders in Australia and employs more than 5,400 staff.
Also owned by AMP Group is AMP Capital - one of the largest investment managers in Asia Pacific that operates globally. The bank has a head office in Sydney and provides a number of services, such as financial planning and banking products as well as investment advice through AMP Capital.
Like many other large lenders, AMP offers borrowers the ability to bundle a home loan in with other products – such as a credit card and/or home and contents insurance – at a reduced interest rate. The bank also offers offset accounts and similar benefits on other loans.
In order to apply for a home loan with AMP you will need to supply the following information:
- Be at least 18 years of age
- Proof of Identification: Enough to pass the 100 point check, which can include your passport, birth certificate, etc.
- Your Tax File Number (TFN)
- Evidence of your financial details when you apply, so make sure you hang on to your tax returns, pay slips, and other financial details.
- A listing of your income versus your expenses, which will show the lender a more complete view of your current financial situation as far as incoming and outgoing cash flow is concerned.
- A listing of assets and debts - assets include things like existing properties and investments as well as savings, while debts are any open lines of credit or other loans, etc.
- Details about the property you're planning to buy, such as the price of the property and how much you are looking to borrow.
You can apply for a loan with AMP over the phone, at your local branch, or online. You can also discuss one of their products with one of our mortgage brokers by selecting the product that seems right to you on this page and continuing through.
Using a broker can help you wade through the myriad options available to you as a borrower to determine exactly which product is right for your situation - whether you're looking to purchase your first home or if you're a seasoned property investor.