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AMP Essential Home Loan - Variable @4.09% P.a. (Comparison Rate 4.11%P.a.) - Owner Occupied only

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Hi guys,

AMP has just lowered their Essential Home Loan rate for owner occupied loan to 4.09% p.a. The discount is for the life of the loan! Great deal if you prefer a brick and mortar lender. This is a basic loan so doesn't come with an offset account.

Features:

  • waived Establishment and Settlement fees
  • $0 monthly Account management fees
  • $0 cost to make additional repayments anytime
  • ability to split your loan into 10 sub-accounts (fees apply)
  • access to your home loan via BankNet, BankPhone or the AMP app.

You can go straight to AMP or PM me if you want to go through our brokerage service. :)

Note: Non AMP's fees apply such as transfer fee and mortgage discharge fee etc..

Credit Representative Number 476455

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closed Comments

  • +4

    "This is for the life of the loan!"

    Are you sure?

    • Editted :P

      • +3

        and how much is the discount?

  • +1

    This is for the life of the loan!

    That's crap.

    "1 For new loans with a single, owner occupied security only. Rates are subject to change."

  • +1

    "This is for the life of the loan"
    So fixed interest rate for 25 or 30 years?????

  • too bad only for new customers

    • +1

      It's not…

      • +1

        Edit - oops. read new customer :P

        • +2

          New loans, not new customers

        • Anyway just realized that this is for package without offset account. I must be on another package as I have got offset feature. I stupidly decided to fix 50% off my loan at 4.79% for 3 years, still got 18 months to go, can't wait for it to finish. Never Fixing again

        • @lokesh7:

          so you saying there will be more rate cuts if you fix at 4.09? lool.

        • @jasecs: who knows? I thought it wouldn't go lower then 4.79%

        • +2

          @lokesh7:

          Exactly, why gamble? you made the decision based of your best interest at that time.

        • +1

          @lokesh7: I feel for you! I just accept the fact that we can't beat the bank. haha

        • @tomleonhart: I accept this now as well. Lol

  • -4

    So the deal is 0.02% off the standard rate ?
    I can get more discount from any lender. Currently have a 0.08% discount with nab.
    I do not see the bargain on this one.

    • +1

      You know the comparison rate isn't the standard rate right?

      • I wanted to ask that question but thought it might come across as rude. LOL.

        • Let him figure out the hard way that he's not getting this rate with NAB.

        • -6

          @Slo20:
          Well what is the bargain ?
          Offering a discount rate that can change, is not really a discount.
          If you were offering 4.09% for the life of the loan, then it is a great deal, but you are just saying the "Discount" is for the life of the loan.
          WHAT IS THE DISCOUNT ??????????????

  • Offset account?

    • no

  • Looking to refinance 2 investment property loans as my 3 year fixed is up. Any good deals?

    • would you like to pm me to see if i can do anything for you ?

  • Not cheap at this environment….I think HSBC is doing 3.99% for new loan

  • Has anyone seen offers to cover break costs? Got $4500 worth to contend with.

    • I've never seen them go that high. Seen lenders offer ~$1000 to switch

    • also keen to know, fixed is closer to 8k to break

  • Loans.com.au.
    I'm getting 4.02%

    • please see what pichka wrote below.

  • http://www.apra.gov.au/adi/pages/adilist.aspx

    loans.com.au not on there

    only deal with those on the list

    • This may be a dumb question - but does it really matter whether a lender is on the ADI list? Is that a compliance requirement for lenders?

      I see that Loans.com.au have won cheapest non-bank lender from Money Magazine for the last couple of years, surely they're not a dodgy operator?

    • Fair enough. However, as borrower, you've got their money. It would be different if they had yours. Disclosure: loans.com.au customer.

      • They will have your cash if you utilize offset accounts or make additional repayments with the option of drawing back down

    • I don't use an offset.. I just pay down my loan. I can always draw down on it if I need to.
      That way they aren't holding any cash, and the adi list is irrelevant.

      • That's because you only have one property.

        Investor with multiple properties need offset.

  • money magazine give awards to homeless blokes for responsible drinking and living.

    I don't read any of their articles as most of the time they got no idea what's good and what's bad

  • rates are now 3.99% for this, isn't it?

    • that's correct.

      • you should update title then i guess…

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