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Affinity Package Home Loan

For Variable Rate Home Loans from $750,000 and above

  • Up to 1.58% pa discount off AMP bank's standard Variable Rate and Line of Credit1.

For Variable Rate Home Loans from $250,000 to $749,999

  • Up to 1.54% pa discount off AMP Bank's standard Variable Rate and Line of Credit1

For Variable Rate Home Loans from $100,000 to $249,999

  • Up to 1.21% pa discount off AMP Bank's standard Variable Rate and Line of Credit1.

Fixed Rate Home Loans

  • Up to 0.55% pa discount off AMP Bank's standard Fixed Rate Loans.

Home Loan fee waivers

  • No Establishement Fee2 for loans with a loan to value ratio of less than or equal to 90%.
  • No Annual Package Fee.
  • No Monthly Account Managment Fee.

Home Loan extras

  • Access to your Variable Rate Loan additional repayments via ATM's, internet, mobile app and phone banking.
  • Make additional lump sum repayments of up to $10,000 per year on Fixed Rate Loans without penalty.
  • A Master Limit3 feature is available, and can provide flexibility to borrowers to restructure their debts between deductible and non-deductible debt without the need for a full application, for up to 10 years.

Have an AMP Bank home loan specialist contact you.

Enquire now

or speak to an AMP Bank home loan specialist by calling

1300 360 525

8.30am to 5.00pm
Monday to Friday

The Affinity Package is a special offer only available to eligible AMP Bank Affinity partners.

Owner Occupied

Effective 31March 2017

Loan type Principle and Interest Interest Only
  Interest rate(i) Comparison rate(ii) Interest rate(i) Comparison rate(ii)
Variable rate loan(iii)                                                
$100,000 to $249,999 4.29% pa 4.33% pa 4.52% pa 4.42% pa
$250,000 to $749,999 3.96% pa 4.00% pa 4.19% pa 4.09% pa
$750,000 and above 3.92% pa 3.96% pa 4.15% pa 4.05% pa
Line of Credit(iii)        
$100,000 to $249,999 Not applicable Not applicable 4.72% pa Not applicable
$250,000 to $749,999 Not applicable Not applicable 4.39% pa Not applicable
$750,000 and above Not applicable Not applicable 4.35% pa Not applicable

Effective 31 March 2017

Loan type Principle and Interest Interest Only
  Interest rate(i) Comparison rate(ii) Interest rate(i) Comparison rate(ii)
Fixed rates  $100,000 and above                               
1 Year Fixed Rate 4.35% pa 4.34% pa 4.35% pa 4.34% pa
2 Year Fixed Rate 4.43% pa 4.36% pa 4.43% pa 4.36% pa
3 Year Fixed Rate 4.59% pa 4.41% pa 4.59% pa 4.41% pa
5 Year Fixed Rate 5.03% pa 4.64% pa 5.03% pa 4.63% pa

Investment

Effective 16 February 2017

Loan type Principle and Interest Interest Only
  Interest rate(i) Comparison rate(ii) Interest rate(i) Comparison rate(ii)
Variable rate loan(iii)                                                
$100,000 to $249,999 4.72% pa 4.76% pa 4.77% pa 4.78% pa
$250,000 to $749,999 4.59% pa 4.63% pa 4.64% pa 4.65% pa
$750,000 and above 4.59% pa 4.63% pa 4.64% pa 4.65% pa
Line of Credit(iii)        
$100,000 to $249,999 Not applicable Not applicable 4.97% pa Not applicable
$250,000 to $749,-999 Not applicable Not applicable 4.84% pa Not applicable
$750,000 and above Not applicable Not applicable 4.84% pa Not applicable

Effective 16 February 2017

Loan type Principle and Interest Interest Only
  Interest rate(i) Comparison rate(ii) Interest rate(i) Comparison rate(ii)
Fixed rates  $100,000 and above                               
1 Year Fixed Rate 4.64% pa 4.76% pa 4.64% pa 4.76% pa
2 Year Fixed Rate 4.57% pa 4.74% pa 4.57% pa 4.74% pa
3 Year Fixed Rate 4.87% pa 4.81% pa 4.87% pa 4.80% pa
5 Year Fixed Rate 5.18% pa 4.96% pa 5.18% pa 4.95% pa

Affinity Package Lines of Credit credit balances

Effective 16 February 2017

Loan type Principle and Interest Interest Only
  Interest rate(i) Comparison rate(ii) Interest rate(i) Comparison rate(ii)
Lines of Credit (credit balances)        
From $0 to less than $20,000 0.00% pa n/a 0.00% pa n/a
From $20,000 and over 0.25% pa n/a 0.25% pa n/a

Cheque book available on Lines of Credit only. Credit interest applies to all Lines of Credit.

Total borrowings must be > $100,000. Introductory rate loans not available in conjunction with the Affinity Package.

The Establishment Fee of $350 is waived for loans less than or equal to 90% LVR. The Settlement Fee is $350. Other fees and charges apply and will be set out in your loan agreement.

(i) Rates are subject to change
(ii) Comparison Rate calculated on a loan amount of $150,000 over a 25-year term. WARNING: This comparison rate is true for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
(iii) Rates are for new loans only.

3.89% pa 3.93% pa
4.47% pa 4.51% pa

   

Tips

Purchasing a home can be both an exciting and stressful time. We provide the following tips to help eleviate some of the stress so that you can enjoy the experience.

Are you eligible to apply for the First Home Owner Grant?
Check if you eligible to apply for the First Home Owner Grant.
Will lender's mortgage insurance be payable? 
You will probably have to pay lender's mortgage insurance (to an independent mortgage insurance company) if you want to borrow more than 80% of the value of the property you are purchasing.
Have you negotiated?
Negotiate fees with your solicitor or conveyancer; don't just accept their 'set fee'.
Have you worked out your property stamp duty?
Stamp duty charges can change and will differ from State to State. You should discuss your personal situation with your solicitor to determine if you'll need to pay any stamp duty.
Are you aware of mortgage stamp duty?
You may need to pay mortgage stamp duty. Amounts will vary from State to State.
Have you done enough research?
Try to visit at least 10 to 15 properties before you buy; this should provide you with a good idea of the current market.
Is the property sound? 
Before you sign a contract it is advisable to have the house inspected for defects and problems. The Royal Institute of Architects can give you a pre-purchase inspection report for a set fee. See www.architecture.com.au
Have you included moving costs in your budgeting?
Moving costs can add up.
Have you arranged to insure the structure once it is yours?
You'll have to do this before your loan settles.
Have you thought about contents insurance?
Remember it's a good idea to insure the contents of your home before you move in. 
Do I want a fixed or variable rate loan?
With a variable interest rate loan, repayment amounts may vary during the term of your loan, as economic conditions change. They could increase or decrease according to whether the rate moves up or down.
Selecting a fixed rate loan can offer protection against rate changes. This means you can know exactly how much your repayments will be for a fixed period of time. Fixed rate loans are only for a limited time (usually up to five years) after which time the loan converts to a variable rate loan. 
Should I split my loan? 
If you like the certainty of a fixed rate, but would like some flexibility, then you might consider a split loan. You can choose which proportion of your loan you would like at a fixed rate, and which you would like at a variable rate. You benefit from the lower rates and flexibility of a variable loan, but also give yourself some protection against potential rate increases.
Should I get a line of credit? 
A line of credit can be a way to consolidate all your debts (home and personal) into one easy to manage account. It simplifies your banking and gives you flexibility in repaying and accessing your credit. A line of credit account isn't just a home loan - it's a facility you can use again and again up to the approved limit, for things like home improvements, investments or any other worthwhile purpose. There's no need to go through the process of applying for a whole new loan.
Do I want a redraw facility? 
If you make additional repayments to your home loan and you have a redraw facility, you may be able to access the additional repayments. Your additional repayments are the difference between your current balance and what the balance would have been without making any additional repayments.
Do I want a mortgage offset arrangement? 
A mortgage offset arrangement links your variable loan with an offset deposit account, so that money you hold in your deposit account can reduce the amount of interest you pay on your loan. 

The language of banking can be confusing, but help is at hand. Here's a useful glossary of commonly used words and phrases, with easy-to-understand definitions for each one.

Additional repayments
This refers to any money you pay into your home loan account over and above your minimum required repayments. With some loan types, this money may be redrawn.
Your additional repayments are the difference between your current balance and what the balance would have been without making any additional repayments.
Home Building insurance 
Generally, the property you provide as security must be protected by home building insurance. Insurance can be arranged through an insurer of your choice.
Conveyancing 
This term describes the process of transferring the ownership of a property from one person to another.
Early repayment fee
 An early repayment fee, plus early repayment interest may be charged on a fixed rate loan if you choose to repay it before the fixed rate term has expired. Also sometimes referred to as 'breaking' your fixed rate.
Establishment and settlement fees 
When you submit your loan application, you may be charged an establishment fee and a settlement fee to cover the cost of processing and administering your application and the settlement of the loan.
If you are offering more than one property as security for the loan. There may be an additional fee charged per property.
First Home Owner Grant 
The First Home Owner Grant (FHOG) Scheme is a joint Commonwealth and State Government initiative to help first home buyers. Eligible first home buyers can receive the grant regardless of their income, the area they are planning to buy/build or the value of their first home.
For further information on the FHOG, who is eligible and how to apply, please refer to the FHOG website.
Fixed interest rate 
A fixed interest rate means that the interest rate applying to your loan stays the same for a certain period of time, even if there are changes to the variable interest rate. Your repayments will therefore remain the same for the whole term of the fixed rate. Fixed interest rate loans can be secured only for a specific amount of time, usually a one- to five-year period. At the end of the fixed rate period, you may be able to negotiate another fixed rate period or the loan will automatically convert to the standard variable interest rate.
Guarantor 
A guarantor is a person (or a group of people or an organisation) who undertakes to fulfil the obligations of the person borrowing money in the event they default on the loan. The guarantor may be called upon either to repay the obligations under the loan or meet the shortfall in the event of the sale of the property.
Interest only period 
Commonly used for investment properties, the interest only period refers to the period of time during your loan when your repayments are only paying off the interest charged to your loan. You won't actually reduce the principal of the loan if you are only making interest only payments. Generally, a maximum interest only period of 5 years applies.
Lender's mortgage insurance (LMI) 
Whether or not you need to pay lender's mortgage insurance (LMI) depends on the size of your loan and the value of the property. Where your loan is more than 80% of the valuation, you may have to pay LMI. It is a once-only insurance premium and it insures the lender against loss should you default on your loan repayments and the loan balance cannot be recovered from the sale of the property.
Loan to Valuation Ratio 
The Loan to Valuation Ratio (LVR) refers to the ratio between the size of your loan and the value of your security property. It is calculated by dividing your loan size by the value of your security property e.g. if your loan size is $240,000, and property value $300,000, your LVR is 80%.
Master Limit 
Master Limit gives you extra financial flexibility. It is an overall limit - up to the maximum amount you can borrow - which is approved when you first apply for your loan.
Even if you don't require the full amount now, your Master Limit is available for your future investment needs for up to a set number of years. But you only make repayments on the funds you actually use - the balance remains as pre-approved funds on 'stand-by'.
Master Limit also provides you with the flexibility to restructure sub-accounts.
Mortgage stamp duty 
This is a State Government charge that varies from State to State and is paid on your mortgage documents. In some States, mortgage stamp duty may not apply in certain circumstances.
Principal 
The amount of money you have borrowed, not including the interest.
Property stamp duty 
This is a State Government charge that varies from State to State and is paid on the transfer of property ownership.
Redraw 
If you make additional repayments to your home loan and have a redraw facility, you may be able to access the additional repayments.
Repayments 
This refers to the money you pay back regularly on your loan. It may comprise part of the money you borrowed plus the interest on it, or it may be just the interest.
Loan repayment calculator
Repayment frequency 
Depending on your home loan, you may have some choice to pay when best suits you such as on a weekly, fortnightly or monthly basis.
Security property 
A 'security property' is the property the lender may require as security when it offers you a home loan.
Variable interest rate 
When an interest rate is variable, the rate of interest and therefore repayment amounts may vary during the term of your loan. Following a change to home loan rates, your repayments may need to be adjusted to ensure that your loan is repaid within the agreed term. They could increase or decrease according to whether the rate moves up or down.

Have an AMP Bank home loan specialist contact you.

Enquire now

1 Benefits taken from AMP Bank's Classic Variable and Line of Credit Interest Rates for new loans greater than $100,000 and are subject to change by AMP Bank at any time and without notice.

2 Establishment Fee will apply for loans with a loan to value ratio greater than 90%.

3 A Master Limit set up fee of $295 applies.

Discounts only available on the Affinity Package Home Loan to current members on new home loan applications. Information, including interest rates, is correct as at 27 September 2016 and is subject to change without notice. The benefits, including the discounts, are not available when switching from an existing AMP Bank loan. Fees and charges are payable. Terms and Conditions available on request. Approval is subject to AMP Bank guidelines. The standard variable rate home loan is the Classic Variable Rate Loan and Line of Credit.

The Borrowing Capacity calculator is provided by Infochoice.
The results shown in this calculator are estimates only and are not guaranteed by AMP Bank. They are based on the accuracy of the data entered into the calculator. Results do not represent either quotes or pre-qualifications for a loan. It is advised that you consult your financial adviser before taking out a loan.
Other than as required by consumer protection law, under no circumstances will AMP Bank and its related bodies corporate be liable for any loss and/or damage caused by a user's reliance on information obtained by using this calculator.
AMP Bank and its related bodies corporate specifically disclaim any liability (whether based in contract, tort, strict liability or otherwise) for any direct, indirect, incidental, consequential or special loss and/or damages arising out of or in any way connected with the access to or use of this calculator.
Any change to the factors used in the calculation would vary the results.
The calculator and the results provided are generic and do not take into account your personal circumstances. The calculator is a guide only and is not intended to be relied upon for the purposes of making a decision in relation to a credit or financial product. The user should obtain professional financial advice before making any financial decision.
Any advice given is general advice only and has been prepared without taking account of your objectives, financial situation or needs. Given this, before acting on the advice, you should consider the appropriateness of the advice having regard to your objectives, financial situation and needs before acting on it. Consider the applicable Terms and Conditions before deciding whether to acquire or continue to hold an AMP Bank product.
The calculator is not an offer for a loan. To apply for an AMP Bank home loan, you must complete an application form and submit it together with all required documentation for assessment. Formal loan approval is subject to AMP Bank lending criteria. All information entered into the calculator will require verification as part of our application process.

When taking out an AMP Bank loan, certain fees and charges are payable by the borrower. These include but are not limited to Government stamp duty and registration costs, AMP Bank's Establishment Fee, Lender's Mortgage Insurance and other fees and charges.

Fees and charges are payable. Terms and Conditions apply to AMP Bank products and are available upon request.
The credit provider and product issuer is AMP Bank Limited ABN 15 081 596 009, Australian credit licence 234517, AFSL 234517.