|
Lender Name |
AMP |
|
Product Name |
FIXED RATE
TERM LOAN |
|
Product Type |
FIXED
1,2,3,4 and
5 Year Fixed
Rates |
|
Interest
Rates |
Comparison
Rate
Schedule
Latest
Interest
Rates
Compare
Other
Lenders |
|
Repayment
Type |
Principal
and Interest |
|
Repayment
Options |
Principal
and Interest
Weekly,
Fortnightly
or Monthly.
Interest
Only Monthly |
|
Repayment
Method |
Scheduled
Payments by
direct debit
or salary
credit.
Extra
repayments
at any time
by
electronic
transfer, by
mail or
deposit made
at Australia
Post. |
|
Extra
Repayments |
Extra
Repayments
of up to
$10K in a 12
month
period. |
|
Term |
Fixed terms
available
for
Introductory
1 year, 1,
2, 3, or 5
years
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 $40K
Classic Club
Fee
Structure
Minimum
$100K for
Pro Pack Fee
Structure
Maximum $2M.
For more
than $2M
refer to BDM |
|
Mortgage
Insurance |
Applicable
if LVR is
over 80%.
(Based on
Zone 1. LVRs
lower for
other
zones). |
|
Acceptable
Income |
PAYG,
Self
Employed,
Salary &
Wage Earners |
|
Fees |
Classic Club
Fee
Structure
Minimum $40K
Establishment
Fee of $350
for LVR>95%
Establishment
Fee Nil if
LVR<95%
Settlement
Fee of $295
(Displayed
Mortgage
Prep Fee)
Account
Keeping Fee
$10 per
month
Pre Approval
Fee $350
Pro Pack Fee
Structure
Minimum $1 |
|
Offset |
Not
available |
|
Redraw
Facility |
Not
available |
|
Product
Change |
No charge
when loan
reverts to
Classic or
Professional
Variable
Rate Loan at
end of fixed
period
(Intro
products
excluded).
No charge
when
customer
requests for
another
fixed period
at end of
current
fixed
period.
(Request
must be made
before
current fixe |
|
Statements |
Issued 6
monthly. |
|
Portability |
Yes
generally
with
simultaneous
settlement. |
|
Split Loan
Facility |
Classic $75
per
additional
split.
Pro Pack up
to 10 splits
permitted
for free
with min
$10,000 per
split. |
|
Special
Notes |
Investment
property
purchases
above 95%
LVR
For
investment
property
purchases
above 95%
LVR the
borrower
must now
have 20%
equity in an
existing
owner
occupied
property. |
