AMP Home Loan Products
AMP Basic Package
AMP Basic Fixed Rate
For this loan, the interest rate is set for the first year of the loan. After this period, the loan switches to a variable rate, which corresponds with the current standard rate. Borrowers can redraw from this loan at any time and can also make extra repayments with no early repayment penalty.
AMP Basic Variable Rate
The interest rate on this loan varies according to the current standard rate. This means that the borrower’s repayment amounts will fluctuate as well. Customers have the option of splitting the loan into up to 10 smaller amounts, each with either a fixed or variable interest rate.
AMP Classic Club
With this type of home loan, the interest rate varies in accordance with the current standard interest rate. As the interest rate changes, so will the borrower’s repayments. This loan also includes the option for 100 percent offset, helping customers to save money on interest over the life of the loan.
AMP Construction Loan
The Construction Loan is designed to help borrowers either build a new home or renovate their existing one. This loan comes with a variable interest rate, but customers will only be charged interest on the amount they withdraw. Customers can use as much or as little at a time as they wish.
AMP Essential Home Loan
The Essential Home Loan offers a competitive variable interest rate to help borrowers keep their repayments low and pay off the loan faster. Customers can make extra repayments at any time without penalties and can redraw from the amount that they have already repaid.
AMP Land Loan
This loan is designed to help customers purchase land either to build upon later or as an investment property. Borrowers have the flexibility of making interest-only payments or of making extra repayments with no penalties for doing so.
AMP Line of Credit
With a line of credit, borrowers draw upon the amount of equity that they have built up in their homes. They are free to borrow as much or as little as they choose and will only be charged interest on the borrowed amount. They can link other accounts to the loan as well.
AMP Professional Package
With the Professional Package, customers have the option of choosing between fixed rate loans, variable rate loans or lines of credit. They also have the option of splitting the loan into up to 10 smaller amounts as they see fit. Other accounts can also be linked to the loan.