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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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AMP Essential Home Loan - Variable @4.09% P.a. (Comparison Rate 4.11%P.a.) - Owner Occupied only
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Associatedtomleonhart on 31/08/2015 - 09:20 amp.com.au (294 clicks)
Last edited 31/08/2015 - 09:37

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

Financial Home Loan Loan

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closed Comments

  • superbass on 31/08/2015 - 09:26
    +4

    "This is for the life of the loan!"

    Are you sure?

    • Associatedtomleonhart @ AMP on 31/08/2015 - 09:26

      Editted :P

      • CyberMurning on 31/08/2015 - 09:35
        +3

        and how much is the discount?

  • jv on 31/08/2015 - 09:26
    +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."

  • jemichae on 31/08/2015 - 09:26
    +1

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

  • FiDad on 31/08/2015 - 09:29

    too bad only for new customers

    • jv on 31/08/2015 - 09:31
      +1

      It's not…

      • Associatedtomleonhart @ AMP on 31/08/2015 - 09:32
        +1

        Edit - oops. read new customer :P

        • jv on 31/08/2015 - 09:34
          +2

          New loans, not new customers

        • FiDad on 31/08/2015 - 09:37

          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

        • overlook on 31/08/2015 - 09:40

          @lokesh7:

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

        • FiDad on 31/08/2015 - 09:41

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

        • overlook on 31/08/2015 - 09:44
          +2

          @lokesh7:

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

        • Associatedtomleonhart @ AMP on 31/08/2015 - 09:47
          +1

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

        • FiDad on 31/08/2015 - 09:50

          @tomleonhart: I accept this now as well. Lol

  • Ijuiceman on 31/08/2015 - 09:29
    -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.

    • Slo20 on 31/08/2015 - 09:46
      +1

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

      • Associatedtomleonhart @ AMP on 31/08/2015 - 09:47

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

        • Slo20 on 31/08/2015 - 09:49

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

        • Ijuiceman on 31/08/2015 - 11:06
          -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 ??????????????

  • binusam2007 on 31/08/2015 - 09:35

    Offset account?

    • Slo20 on 31/08/2015 - 09:53

      no

  • cyrax83 on 31/08/2015 - 09:54

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

    • Associatedtomleonhart @ AMP on 31/08/2015 - 10:14

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

  • whatadeal on 31/08/2015 - 10:00

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

  • smoke87 on 31/08/2015 - 10:07

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

    • Slo20 on 31/08/2015 - 12:58

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

    • smol84 on 01/09/2015 - 12:31

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

  • WingedNike on 31/08/2015 - 12:32

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

    • Associatedtomleonhart @ AMP on 31/08/2015 - 13:37

      please see what pichka wrote below.

  • pichka on 31/08/2015 - 13:33

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

    loans.com.au not on there

    only deal with those on the list

    • shake on 31/08/2015 - 15:36

      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?

    • cushydeskjob on 31/08/2015 - 17:27

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

      • smoke87 on 01/09/2015 - 11:09

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

    • WingedNike on 01/09/2015 - 20:13

      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.

      • Associatedtomleonhart @ AMP on 14/10/2015 - 16:10

        That's because you only have one property.

        Investor with multiple properties need offset.

  • pichka on 31/08/2015 - 15:56

    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

  • bkoolrocks on 14/10/2015 - 15:44

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

    • Associatedtomleonhart @ AMP on 14/10/2015 - 16:09

      that's correct.

      • bkoolrocks on 15/10/2015 - 11:50

        you should update title then i guess…

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