Digital home loan features

Will my home loan come with a debit card?

You can opt to receive a Visa debit card during your application for the Professional Package Home Loan. Individual applicants will receive their own debit card. In joint applications, each applicant will receive their own card. Note that the AMP Essential Home Loan does not come with a debit card.

Is there a minimum or maximum loan amount?

Using this application process, you can apply for a loan amount between $250,000 and $2 million.

Is there a minimum or maximum property valuation?

The minimum loan size of $250k and maximum loan-to-value ratio of 80% means that the minimum property value is $312,500. There is no maximum property valuation.

How do I qualify to apply online for a home loan?

You’ll need to:

  • be 18 years or older and an Australian permanent resident
  • be an individual, or if applying with a partner, you must be married/de facto living in the same household
  • pass serviceability requirements (i.e., be able to meet monthly debt and expense commitments) using regular PAYG income and/or rental income, or self-employed and trading for at least 2 years as a Sole Trader, Partnership or Company
  • have a good credit history be applying for up to 80% of your property’s value, with a loan size between $250,000 - $2 million
  • have a property that is a house, townhouse, or apartment/unit in an eligible postcode
  • not be a first home buyer if you are purchasing the property; or if you're refinancing, your existing loan isn't with AMP Bank

I /my partner is self-employed - do we qualify?

Yes, self-employed income is assessed in our online application process, and acceptable, however, we will need certain financial statements from the last two years.

You'll be automatically advised which documents you'll need to send us once you submit your application.

Please also note that approvals will take a bit longer as we aren't verifying income via the automated route used for PAYG.

If you have considerable self-employed income, you may want to consider discussing your circumstances with an AMP Home Lending Specialist on 1300 534 325 8am-8pm Monday to Friday AEST.

Are there some properties you won't lend on?

Only some. We have selected eligible postcodes that we will lend to through this application process, however, most metropolitan and major regional areas are acceptable. If your property is not eligible, you will know early in the application process.

The property must be an established house/townhouse or unit/apartment. Vacant land, property in construction, off-the-plan properties, commercial property or other specialised properties are not eligible.

How many loans can I have?

You can have multiple loans with AMP Bank. However, this application process only caters for one loan per security property.

For additional loan applications, talk to an AMP Bank Home Loan Specialist or Mortgage Broker. Request a call back or call 1300 534 325 8am-8pm Monday to Friday Sydney time to chat with a Home Loan Specialist.

Can I still get a loan with AMP Bank if I am declined via the online application process?

Yes. At this time AMP Bank only has some of its many home loan products available to be applied for online. Please also note that we only accept some customer and property types online.

It is quite plausible and possible that via an AMP Bank Home Loan Specialist or Mortgage Broker, AMP Bank may still be able to assist you with a home loan. Request a call back or call 1300 534 325 8am-8pm Monday to Friday Sydney time to chat with a Home Loan Specialist.

What kind of documents will I need to provide during the application?

We use digital processes and data to assess our online home loan applications. This includes verifying your identity, and assessing your income, expenses, and liabilities. As part of your home loan application, you will be required to log into your internet banking where we will access your financial transaction data safely and securely.

In most cases, the financial data we obtain via your Internet banking is enough. There is no need to provide any documentation (other than proof of identity by taking some photos on your smartphone), making it a quick and easy experience where you can be approved in minutes.

For the few applications where we need more information, the Customer Support team will contact you via email and phone to cover any questions they may have. If needed, they may request some additional documentation.

I want to purchase a home

What fees are involved?

While there are no AMP Bank fees charged, there are other up-front fees payable as part of purchasing a new property. These include:

  • stamp duty, a government property tax
  • a solicitor fee, charged by the solicitor we engage to manage your settlement
  • a mortgage registration fee, charged by the State or Territory government
  • a title transfer fee, charged by the State or Territory government

The conveyancer or solicitor you engage will also charge a fee for their services. You must be able to cover these fees, plus your deposit as part of the settlement process.

Are first home buyers eligible?

No. At this time, first home buyers are not eligible for our digital home loan.

If this is you, consider your options for our First Home Buyer Family Guarantee and request a call back from our Home Loan Specialists for assistance.

How much can I borrow?

The maximum loan is $2 million, and we can lend up to a maximum of 80% of the property’s value.

We will ask for information on your income, expenses, and any liabilities to understand how much you can afford to borrow based on your specific circumstances.

Do I get a pre-approval with a digital home loan application?

Our digital application form is designed for customers who currently have a property in mind, and are ready to make an offer/bid at auction either now or later or have already had an offer accepted. These customers can apply for their required loan amount, based on the anticipated purchase price.

If you don’t yet have a property in mind, you can receive an estimation of your borrowing power by using our borrowing power calculator. It is important to note this is an estimation based on what you input.

I do not have a property in mind yet, can I still apply?

No, however, If you'd like to get pre-approval, submit an enquiry with one of our Home Loan Specialists.

Also, you can get an idea of your borrowing power by using our borrowing power calculator.

Once you are ready to go to auction or make an offer on a specific property, you can come back and apply for a quick approval.

How quickly can I get conditional approval?

Conditional approvals can usually be provided within 24-48 hours if all the required personal and financial information is provided and verified, including bank data scrape, credit check, and verification of identity.

If our assessors require any further clarifications or information, make sure you respond quickly to avoid further delays.

Can I get support if I need it while applying?

Yes. While the application process is completely online, we understand a human touch is sometimes needed. Click the chat icon visible throughout the online application form to get assistance from our friendly support team.

If we need anything more from you to move you to conditional approval, the same support team will be in contact with you via phone and/or email.

Can I offer, or bid, more than my approved amount?

Your conditional approval is for the specified amount only. If you offer or bid more, you will need to cover the increased amount as part of your deposit contributions.

If you cannot, and you need a larger loan, you can contact us to determine if this can be approved based on your financial situation.

What if I want to make an offer on a property different to the one I received approval for?

Each approval is specific to the purchase property selected. You will need to submit a new application from scratch using the new property address. The new loan application will be subject to an updated assessment as details between each application (such as loan amount) may have changed.

After my offer is accepted, what do I need to provide to get Unconditional approval?

Once your offer is accepted, you can return to your application form dashboard to:

  • confirm the offer was accepted
  • upload a complete contract of sale, signed by the purchaser
  • details of your conveyancer
  • details of the seller’s agent, in case we need to contact them to organise a valuation

If you are applying as a joint applicant, the above must be provided in the first applicant’s dashboard.

How does the valuation of my property work?

After you have received Conditional Approval and you have an offer/bid accepted on your property, we will then organise a valuation to confirm the purchase price.

This may either be done digitally or via an in-person inspection. We will let you and your seller’s agent know if we require access to the property to conduct the valuation.

Do I need to engage a conveyancer?

Yes, a conveyancer or solicitor will work with us and our solicitor to organise settlement of your property.

You can provide details of your conveyancer in your dashboard at the end of the application form.

Do I need to provide a contract of sale?

Yes, after your offer is accepted. This can be uploaded to your dashboard.

An acceptable Contract of Sale (COS) must:

  • be dated
  • be signed by you
  • show the correct purchase price and property address
  • have the correct names (yours) 
  • be clear on any special conditions

How long do I have to sign the Loan Documents that are sent to me post Unconditional Approval?

30 days

How long do I have to settle from signing the Loan Documents?

60 days

How long will the settlement process take?

On average within 6-8 weeks (if there are no delays) based on the date on your Contract of Sale.

The vendor and your solicitor/conveyancer will generally agree on this date, and work with our solicitor to make it happen.

What does the settlement process involve?

Generally, the process involves:

  1. AMP solicitor will send you documents to review and sign
  2. AMP solicitor will follow up on any outstanding items prior to settlement such as property insurance or fund shortfalls
  3. Settlement date is organised and booked in.

I want to refinance

How long does the refinancing take?

Your application can be unconditionally approved within 60 minutes due to our digital application and decision-making process. Depending on the information provided, our credit team may need to check a few things before unconditionally approving.

Once approved, the settlement process is set by your current lender which usually takes around 2-3 weeks, though it can take longer. However, we’ll make sure to stay in touch and clearly communicate with you throughout the process, keeping you updated with progress and next steps – all the way from the start of the application, right through to becoming an AMP customer.

When should I refinance?

There are several reasons why you may consider refinancing, which could include:

  • getting a better deal (which could save you thousands of dollars over the life of the loan),
  • changing your repayment amounts (for example, if you are ahead in repayments and want to reduce them),
  • accessing equity in your property; and/or
  • getting a better customer experience.

What is the cost of refinancing from my current lender to AMP?

AMP is unable to say exactly how much it will cost you to switch from your existing lender to us, so we recommend you check your existing financial institution’s Terms and Conditions or contact them to be certain.

How do you refinance a home loan?

You’ll first need some basic information on your current situation such as your loan amount, loan type, and current interest rate so that you can compare loans.

Once you find a suitable lender, ensure the amount you are asking to borrow will cover the loan (or loans) you are refinancing, including any break or exit fees and outstanding interest.

After this step, you can apply for the new loan. Once approved, the new lender will issue you contracts and organise settlement and transfer of the mortgage.

We make the refinance process as easy and as fast as possible via our digital application process, where approval is possible within 60 minutes. We use automated property valuations, digital credit scores, automatic retrieval of banking transaction and income data, and digital verification of your identity using biometrics. This removes the need for paper-based forms, manual intervention, and long waiting times.

What is refinancing?

Refinancing is essentially taking out a new loan to pay off an existing loan, which could be held at another financial institution.

Interest rates & fees

Are there fees if I pay out my loan early?

Possibly. Your loan contract will outline any fees associated with paying your loan out early.

If you are refinancing a loan to AMP, you should check for any early pay out fees with your current lender.

What is a comparison rate?

A comparison rate is a more accurate reflection of the true cost of a home loan. It is expressed as an annual percentage rate and includes the loan’s interest rate as well as most upfront and ongoing fees and charges.

The comparison rate is calculated for a secured loan for an amount of $150,000 over a 25-year term.

Are there fees?

AMP does not charge an application fee to make an online application.

There are also no settlement or ongoing fees for the AMP Essential Home Loan, though some fees may be payable when you vary your loan, when you discharge the loan, or in special circumstances where AMP may be required to undertake additional work.

A fee, charged by our Solicitor to arrange and complete the refinance or purchase, will also apply at settlement.

Government taxes and levies may also apply.

An Annual fee of $349 is payable in advance at settlement and on each anniversary date of the Professional Package Home Loan.

What are AMP’s home loan interest rates?

Our current interest rates for new business can be found on our website.

How can I make my loan repayments?

You will be able to select how to make loan repayments (direct debit or salary deduction) and frequency (Monthly, Fortnightly or Weekly) as part of the settlement process.

Privacy & security

How will you verify my identity?

We use a digital provider to help us complete the identification process when you apply for a home loan. This is not a 100-point test, it’s a Verification of Identity. You will need to have your driver’s licence and passport with you when you complete this process.

Using your mobile phone, you will need to agree to provide access to the camera on your phone (after you receive a link from us) to take a:

  1. photo of the front and back of your driver’s licence,
  2. photo of your passport, and
  3. take a photo of yourself.

The whole process to verify your identity can be completed within just 2 minutes!

The application process asks for my bank details, is this safe? How do you ensure my banking data is protected?

We aim to use data at every opportunity to deliver a better experience for you. To assess your loan application, we need to complete a digital review of your banking and loan data.

The process we use to do this is proven, safe and secure. We take data security and the protection of sensitive information extremely seriously.

We have the following protocols in place:

  • One-time use only: we never see or store your banking username or password
  • Read-only data: your transaction history and account details are read-only – it’s impossible for us to transfer or transact with any of your accounts
  • Maximum security: we use 256-bit encryption with all information (the same as big banks)
  • Secure storage: all data is securely stored, and we only use it in accordance with our Privacy Statement & Policy

In fact, the information that we digitally assess is similar to what you would supply if you were to manually provide your bank statements to us. We just take the hassle out of the process for you.  

What if I don’t have a driver’s license and/or passport?

There are alternative ways we can verify your identity; however, it may involve us reaching out to you directly.

Once you complete the application, you will see the other types of identity documents we can accept online.


What is redraw?

If you make extra repayments on your home loan, a redraw facility lets you take the extra money out again if you need it. So rather than saving your money in a separate account, you can reduce the amount of interest charged on your loan―by paying more than you have to—and access the extra money when you need it.

Why would you use it?

A redraw gives you extra cash to do things like pay bills or do renovations without having to apply for another loan. You can use it as many times as you like to draw down money, as long as you don’t exceed the credit limit on your loan.

What should I watch out for when using the redraw facility?

The downside of a redraw facility is that there could be fees or withdrawal restrictions placed on the amount you can redraw. The upside of this is it prevents you from making too many withdrawals and might help stop you from spending more money than you can afford.

Which home loan products is redraw available on?

Redraw is available on:

Redraw is not available on:

  • Fixed Rate Loans
  • Construction Loan

Support at your fingertips

If you need assistance or have any questions, provide your details and one of our home loan specialists in Australia will get in touch.

Book an appointment →

Request a call back → 

New Home Loan enquiries

Call: 1300 534 325


Mon - Fri 9am - 6pm Sydney time

All other  Home Loan enquiries

Call: 13 30 30


Mon - Fri  8am - 8pm
Sat & Sun 9am - 5pm Sydney time

What you need to know

The product issuer and credit provider is AMP Bank Limited ABN 15 081 596 009, AFSL and Australian credit licence 234517.

It’s important to consider your circumstances and read the relevant Product Disclosure Statement or Terms and Conditions before deciding what’s right for you. This information hasn’t taken your circumstances into account. Information including interest rates is subject to change without notice.

Any application is subject to AMP Bank’s approval. Terms and conditions apply and are available at or 13 30 30. Fees and charges may be payable. Full details are available in the Fees and charges guide.

This information is provided by AMP Bank Limited. Read our Financial Services Guide available at for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relation to products and services provided to you. All information on this website is subject to change without notice.

AMP Bank is a member of the Australian Banking Association (ABA) and is committed to the standards in the Banking Code of Practice

A target market determination for these products is available on our TMD page.