$3,000 Cashback on Property Purchase (Owner Occupied or Investment, Minimum Loan $250,000) + 0.15% Extra Broker Cashback @ AMP

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AssociatedMortgage Broker @ Lending Clinic on 26/03/2022 - 12:43 amp.com.au (195 clicks)
Last edited 01/04/2022 - 12:45 by 2 other users

OZBARGAIN

A really good cashback offer from AMP has just come up for "property purchase" (rare).
They also offer very low investment interest rates.

Key offer details:
$3,000 cashback on property purchase only (not refinance), paid within 60 days of settlement.
$250,000 minimum loan amount.
Either owner-occupied or investment loan, but must be on principal & interest repayment.
Must be either a variable rate loan or a combination of fixed rate and variable rate loans (cannot be purely fixed rate).
Apply by 31 May 2022 and settle by 31 August 2022 (unless varied by the bank).

Some of their variable interest rates as of 28/03/2022:
Owner Occupied P&I with redraw facility @ 80% LVR: 2.22% (comparison rate 2.25%).
Owner Occupied P&I with offset account @ 60% LVR: 2.29% (comparison rate 2.71%).
Owner Occupied P&I with offset account @ 80% LVR: 2.34% (comparison rate 2.76%).
Investment P&I with offset account @ 60% LVR: 2.29% (comparison rate 2.71%) (same as Owner Occupied rate).
Investment P&I with offset account @ 80% LVR: 2.34% (comparison rate 2.76%) (same as Owner Occupied rate).
Please note that comparison rate is based on a $150,000 loan over 25 years, where the bank's annual fee & other fees are divided by $150,000 to obtain a percentage figure. If your loan is much bigger than $150,000, your effective percentage rate will be much lower than the comparison rate.

In addition, we're offering an extra broker cashback of 0.15% of the loan amount (net of offset and redraw), if you mention the word OZBARGAIN the first time you contact us.
Our broker cashback is paid after 18 months if your loan hasn't been refinanced or paid off by then. On a $500,000 loan the broker cashback is $750.

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

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• 

  KH234 on 26/03/2022 - 13:06

  Is this offer available for Investment Land purchase?

  • 

    AssociatedMortgage Broker @ Lending Clinic on 26/03/2022 - 13:17

    I would go somewhere else for land purchase, AMP is not the best for those.

• 

  FreshPrinceofKP on 26/03/2022 - 13:16

  +1

  I got cash back with ANZ a couple years ago and it ended up being less than advertised after the fees and stuff were taken out for changing to them.. is that the case here?

  • 

    AssociatedMortgage Broker @ Lending Clinic on 26/03/2022 - 13:22

    +1

    The cashback is $3k but there is $295 legal fee for AMP, and there will be some charges from the land title office which show up on the AMP loan offer but they're really for the land title office and are payable regardless of which bank you go to.
    Also note the AMP cashback offer here is for property purchase only (not refinance).

    • 

      FreshPrinceofKP on 26/03/2022 - 13:23

      oh right, thanks for clearing that up

• 

  Ultramup on 26/03/2022 - 14:57

  Would you know the current lead time for applications?

  • 

    AssociatedMortgage Broker @ Lending Clinic on 26/03/2022 - 16:04

    Typically they assess the application within a week. Have you already purchased a property?

• 

  Flyerone on 26/03/2022 - 16:19

  I thought I heard and ad for St George where they are offering the same amount CB for the same min value loan. What do you know about that?

  • 

    AssociatedMortgage Broker @ Lending Clinic on 27/03/2022 - 07:00

    St George has a bigger cashback ($4k), $250k minimum loan but only for refinance (AMP's cashback is only for property purchase). The St George offer is ending this month, still have time to submit the application if you're quick.

• 

  mr_asstight on 26/03/2022 - 17:54

  What's the best bank for releasing equity for renovations?

  • 

    AssociatedMortgage Broker @ Lending Clinic on 27/03/2022 - 07:01

    Most banks are OK with renovations :)