AMP Home Loans

Read on to compare some of AMP’s mortgage rates and the key features they have.

AMP home loan rates

• About AMP Bank
• AMP home loan features
• How to apply for an AMP home loan

About AMP Bank

Founded 170 years ago, AMP has had a long history in providing Australians with an extensive range of financial solutions and services. AMP Bank provides an array of home loan products for both owner-occupiers and property investors. Besides home loans, AMP Bank also offers a range of other financial products including savings accounts, transaction accounts, term deposits, superannuation and self-managed super funds (SMSF).

What home loans does AMP offer?

AMP Bank has home loans to meet the needs of a wide variety of customers, whether you’re looking to purchase your first home, refinance your current mortgage or invest in property. Its key home loan products include:

• Variable rate home loans
• Fixed rate home loans
• Package home loans to bundle your loan with other products
• Land loans for purchases of land
• Construction loans for building or renovating a home
• Line of credit for consolidation of all your debts into one easy-to-manage loan account

AMP mortgage features

Below are some of the features that come with select AMP home loan products:

• Redraw facility: Some AMP home loans let you redraw any extra funds you’ve deposited with no withdrawal fees.
• Additional repayments: You have the option to make additional repayments anytime at no extra cost.
• Offset account: 100% offset accounts are available with eligible loan accounts.
• Split loan: You will have the ability to split your loan between a fixed rate and a variable rate.
• Interest-only loans: Interest-only payment options are available with a land loan or construction loan.
• Fee-free: Several home loans have no annual fee, no monthly fees or no settlement fees.

How to apply for an AMP home loan

Eligibility criteria

To be eligible for an AMP home loan, you generally need to:

• Be 18 years of age or over
• Be an Australian citizen or permanent resident
• Have a regular source of income
• Demonstrate your ability to service the loan

If you meet the criteria, you can apply for an AMP home loan through:

• A mortgage broker
• An AMP aligned financial adviser
• Phone or internet banking

Documents needed

To ensure that your home loan application goes smoothly, you generally need to have the following documents handy:

• Identification documents such as your driver’s license, passport, birth certificate etc.
• Proof of income like your most recent payslips or most recent tax returns if you’re self-employed
• Your most recent tax returns showing your ownership of the rental property, if you earn a rental income
• Monthly living expenses, including your food expenses, transport, utilities, health care etc.
• Asset and liability documents, such as credit card debts
• The lastest three to six months of transactional statements from your bank
• If you own an existing property, you’ll need to show your current building insurance policy or contract of sale as proof