AMP LLine of Credit Professional Package Variable Interest Rate Home Loans | Investment Loans

Lender Name	AMP
Product Name	LOW DOC STANDARD & STEPDOWN
Product Type	VARIABLE/LINE OF CREDIT/FIXED
Interest Rates	Latest Interest Rates Comparison Rate Schedule Compare Other Lenders
Target Market	Borrowers must self-employed for at least 2 years (i.e. ABN holder for at least 2 years). Secured by residential property.
Repayment Type	Variable: Principal & Interest and Interest Only LOC: Principal & Interest and Interest Only Fixed: Principal & Interest and Interest Only
Repayment Options	P&I - Weekly, Fortnightly, Monthly IO Monthly Only Line of Credit - Monthly Interest Only
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	Additional repayments permitted. Fixed Rate Loans up to a maximum of $10K per 12 month period (per split).
Special Offers
Term	Variable Rate and Fixed Rate Loans Minimum term - Principal & Interest - 10 years, Interest Only - selected IO period + 10 years Maximum term 30 years Maximum IO term 5 years (up to 10 years subject to Credit approval) Lines of Credit Min Total Term 20 years
Loan Size	Minimum $40K Maximum Loan Amount secured against a single security $1M. Maximum Borrower Exposure $2.5M
Mortgage Insurance	Mortgage Insurance is required when LVR is >60% to 80%. Customer has the option or either : a) Standard Low Doc where customer pays the LMI and get a lower rate b) Step d Down Low Doc after two years (three years if 3 year fixed is taken).
Acceptable Income	Primary borrower must be self employed for a minimum of 2 years. Co- Borrower can be PAYG. GSTregistration is required if income is > $75k.
Fees	Establishment Fee $0 Settlement Fee $550 (Displayed as Mortgage Preparation Fee) Annual Package Fee $299 (payable at settlement then annually) Account Management Fee $0 (Unlimited free domestic transactions including ATM/Eftpos, B-Pay, Internet/Telephone
Offset	Yes - 100% Mortgage Offset available on Variable Rate Loans Only no account keeping or domestic transactions fees and no minium balance.
Redraw Facility	Available on Variable and LOC with no minimum amount & no fee except via Bank Assist where $2k min and $50 fee applies). Not available on Fixed rate loans.
Product Change	$0 under Master Limit. $350 if not under Master Limit.
Statements	Issued 6 monthly Line of Credit statements are issued monthly
Portability	YES generally with simultaneous settlement.
Split Loan Facility	Up to 10 splits minimum split is $10K. Low Doc loans cannot be split with Full Doc Loans.
Special Notes	Available for personal, company and trusts Stepdown products revert to the Standard Low Doc product after 2 years of good conduct (3 years if the 3yr fixed is taken) and account conduct has been satisfactory.