Lender Name

AMP

Product Name

PROFESSIONAL PACKAGE

Product Type

VARIABLE

Interest Rates

Comparison Rate Schedule

Latest Interest Rates

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Repayment Type

Principal & Interest
Interest Only

Repayment Options

P & I Weekly, Fortnightly, 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

Yes at any time by electronic transfer, by mail or deposit made at Australia Post.

Special Offers

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 $100K
Maximum Loan amount Variable Rate Loan = $2M. For larger amounts contact your 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

Establishment Fee of $350 for LVR>95%
Establishment Fee Nil if LVR<95%
Settlement Fee of $295  (Displayed as Mortgage Prep Fee)
Annual Package Fee $349 (payable at settlement then annually)
Master Limit Application Fee $100
LMI processing Fee $100 (in add

Offset

Yes 100% Mortgage Offset,  no account keeping or domestic transactions fees and no minium balance.

Redraw Facility

No minimum redraw amount or fee, except BankAssist where min is $2,000 amount with $50 fee.

Product Change

$0 under Master Limit.
$350 if not under Master Limit.

Statements

Issued 6 monthly

Portability

Yes generally with simultaneous settlement.

Split Loan Facility

Available up to 10 splits permitted for free with min $10,000 per split..
Additional splits available include Fixed Rates, LOC, Basic Loan and Business Classic Loan.

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.