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$4,000 Home Loan Cashback (Minimum $750,000 Loan) for Purchase or Refinance, Rates from 4.64% (CR 4.67%) @ AMP

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$4,000 Home Loan Cashback (Minimum $750,000 Loan) for Purchase or Refinance, Rates from 4.64% (CR 4.67%) @ AMP
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AssociatedMortgage Broker @ Lending Clinic on 20/01/2023 - 19:32 amp.com.au (327 clicks)
Last edited 29/03/2023 - 16:46 by 1 other user

Hello OzBargainers,

AMP has announced a new home loan cashback offer to welcome the New Year.

  • $4,000 cashback on a new home loan or investment loan.
  • Apply to refinance or purchase by 31 March 2023, settle by 30 June 2023.
  • Minimum total loan amount of $750,000 (can be for multiple properties).
  • Limit of one $4,000 cashback payment regardless of the number of applications, applicants, properties or loans involved.
  • Cashback will be paid into an AMP Bank offset account, or AMP Access account, within 60 days of the settlement date.
  • Full terms and conditions on the AMP website.

Interest Rates:

  • Owner-occupied interest rates start from 4.64% (CR 4.67%) for the Essential home loan without offset account.
  • Investment interest rates start from 5.04% (CR 5.07%) if standalone, but you can go for their combo loan offer if also refinancing your owner-occupied loan, with rates from 4.84% (CR 5.21%).

Other reasons to use AMP:

  • Fast turnaround
  • Digital loan contract, environmentally friendly
  • Up to 10 offset accounts available

If you use us as your mortgage broker, we're also offering an extra $1,500 cashback & a holiday accommodation voucher 😀

We look forward to helping you save money, or buy a property!

Arman Soetanto
M: 0431 825 128
E: [email protected]
W: www.lendingclinic.com.au
Lending Clinic Pty Ltd (Credit Representative Number 511270) is authorised under Australian Credit Licence Number 384704

Financial Cashback Home Loan Investment Loan Rebate Refinance

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closed Comments

  • Royale with cheese on 20/01/2023 - 19:46
    +6

    For the extra perks, you forgot to mention:

    You need to still have the loan until the end of the lender's commission clawback/refund period, which is either 18 or 24 months. The broker cashback will be paid at this point

    Also, i just refinanced and got a $5000 cashback so probably better deals out there. I was offered 0.1% higher rate though but it doesn't affect my case.

    • JuryWheel on 20/01/2023 - 20:19
      +1

      Which bank?

      • Royale with cheese on 20/01/2023 - 20:36

        I went with st George through the broker. Less than a mill loan too

        • crackman on 20/01/2023 - 21:03

          So don't you need to stay till the claw back period expires too?

          • Royale with cheese on 20/01/2023 - 21:38

            @crackman: I think st George expects 12 months. It wasn't from the broker

            • crackman on 21/01/2023 - 11:43

              @Royale with cheese: And your broker doesn't have clawback?

              I'm just confused. You said:
              You need to still have the loan until the end of the lender's commission clawback/refund period, which is either 18 or 24 months.

              • Royale with cheese on 21/01/2023 - 12:22
                +1

                @crackman: I was pointing out that OP's post didn't mention that they will only pay extra $1500 and a travel voucher after 18 or 24 months. I have nothing to do with the broker paying me extra in my case but for cashback of $5000, st George wants me to stay for 12 months

        • JuryWheel on 20/01/2023 - 22:56

          Which broker did you use?

  • Phreakuency on 20/01/2023 - 19:47
    -7

    Less than 1% back of what you are borrowing.

    Where you'll be paying back nearly 1 million dollars in interest.

    • Royale with cheese on 20/01/2023 - 19:49
      +1

      That's the banking sector for you and the property madness

    • Slo20 on 20/01/2023 - 20:01
      +3

      Not sure why it’s worth the neg. Would be completely valid if you’re pointing out better cashback offers or better interest rates but you’re not suggesting any of that.

      You’re also assuming people will stay with AMP for the life of the loan and not hop to another bank to get another cashback offer down the track.

      • Royale with cheese on 20/01/2023 - 20:05
        +1

        $5000 with St George but i imagine few banks would be offering that under the table with $4000 becoming the new normal.

        I am also assuming need to stay with AMP for 2 years to receive extra rewards through the broker which works out to be $2000/year really unless you switch prior to that meaning its the same as any other bank so OP is just advertising the business here

        • Slo20 on 20/01/2023 - 20:09
          +2

          Yeah I don’t personally bother with the broker bonus rebates because I can’t commit to the 24/36 months and also because my offset completely covers my loan so most brokers won’t accept it and those that do want you to transfer the money external prior to the days the banks take a snapshot of your net loan balance.

          • knobbs on 23/01/2023 - 11:57

            @Slo20: What brokers are okay moving money till cashback is approved? Has been a problem for me not hitting needed loan amount with offset

  • cipher on 20/01/2023 - 19:52

    Whats the investment io rate ?

    • AssociatedMortgage Broker @ Lending Clinic on 20/01/2023 - 20:40

      AMP Investment I/O starts from 5.29%, lowest rate is for the home loan package with offset account (CR 5.51%)

  • tids2k on 20/01/2023 - 20:00

    Free cash per interest rate rises.

  • Jetstream on 20/01/2023 - 20:14
    +4

    I choose all my home lenders based on the environmentally friendly, electronic loan contract /s

  • tessel on 20/01/2023 - 20:18
    +3

    Minimum 750k loan. I know this is Ozbargain and we are all earning $250k+ and under 30 professionals but I worry about the REST of society with loans like this who clearly aren't as successful as us. Seriously, I wonder what the future will be like… Ok back to wondering what high investment EV car I should buy next.

    • Royale with cheese on 20/01/2023 - 20:38

      I unfortunately have long crossed the 30 mark. Yes EV market is tempting.

    • Omarko on 20/01/2023 - 20:54
      +3

      $750k … most ppl have to borrow lot more to buy a property in sydney!

      • tessel on 21/01/2023 - 13:41

        And that is genuinely scary. Honestly, how could you sleep at night knowing you owed $750k+ with interest rates only going to climb and at best stagnated economy for years to come? You could easily wake up one morning and be out of a job. And what's worse is that we have allowed it to become acceptable to go deep into debt to buy a house. I know the successful under 30 and earning $250k+ like most Ozbargainers are wouldn't worry about this as we usually have close to $750k in cash in one of our multiple offset accounts but many people wouldn't. Ok, enough of this. Back to browsing my EV high yield investment vehicle.

        • Omarko on 21/01/2023 - 16:22

          Thats why rba needs to be more responsible and stop this madness of rapid rate rises as it doesnt do anything to inflation.

        • RichieVn on 05/02/2023 - 14:34
          +1

          so tesla or polestar 3?

  • bloom on 20/01/2023 - 20:23

    What ‘stress’ interest rate does the bank use for serviceability these days? 8%?

    • AssociatedMortgage Broker @ Lending Clinic on 20/01/2023 - 20:36

      Still 3% buffer above the actual rate. There may be an adjustment if the actual rate is a very low fixed rate. Also we have non-bank lenders with more flexible stress testing, good for buying another property when the banks have said no more.

  • Moses on 21/01/2023 - 00:54
    +1

    any good cashback offers for under 750k?

    • AssociatedMortgage Broker @ Lending Clinic on 21/01/2023 - 08:07
      +1

      A few $4k cashbacks for $250k loan: ANZ, ubank, St George, Bank of Melbourne, and ME Bank if LVR 60%.
      BankSA $4k for $200k loan.

      • amisfit on 21/01/2023 - 11:40

        Any that are still in the ~mid 4's for interest rate. I know ubank is 4.74 advertised.

        • AssociatedMortgage Broker @ Lending Clinic on 21/01/2023 - 12:11

          Can get 4.67% with Bank of Melbourne with offset. We also have a special cashback arrangement with Westpac which we can message you privately.

          • prax21 on 22/01/2023 - 12:18

            @Mortgage Broker: Hi Can you pls advise me for 550K loan with 100% offset (75% LVR)

            • AssociatedMortgage Broker @ Lending Clinic on 22/01/2023 - 14:11

              @prax21: From a bank who offers $4k cashback, can get you 4.77%-4.84% variable rates. If no need for bank cashback, there's a bank offering 4.51% :)

        • Moses on 22/01/2023 - 15:36

          Not sure if there's a catch but the Police Credit Union seems to have 4.39% with 100% offset (for first home/refinancers only) which seems very good

      • Moses on 22/01/2023 - 15:41

        Thanks - are they only for refinancing? Taking out a new loan in Feb/March

        • AssociatedMortgage Broker @ Lending Clinic on 23/01/2023 - 09:10
          +1

          Most banks are for refinances only. AMP, ubank, Suncorp and Citibank offer cashback for property purchase. ANZ has $3k cashback for first home buyer buying a property.

  • Gazpacho on 21/01/2023 - 16:25

    "Owner-occupied interest rates start from 4.64% (CR 4.67%) for the Essential home loan without offset account."
    What's the best rate for a product with an offset account? OO, P&I, ~750k

    • AssociatedMortgage Broker @ Lending Clinic on 21/01/2023 - 16:56

      With AMP they have 4.84% with offset. Very strong selling point with AMP is if you refinance your owner occupied and investment loans to them. They can give you 4.84% for both loans.

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