AMP Bank Introductory 1 Year Fixed Rate Loan
What happens when I click Enquire Now?
- Clicking Enquire Now will take you to the lender's website
- After completing the contact form, a mortgage expert will contact you
- The mortgage expert will ensure you find the right loan, calculate your repayments, and explains all the associated fees
- After going through the enquiry process you will be able to know how much you can borrow, begin your application when you are ready to apply and be approved for a home loan
When interest rates have reached the lowest that they are going to be it can be very beneficial to get a fixed rate loan and secure the low rate. Furthermore, some providers offer low introductory interest rates on their products. By securing a low interest rate and taking advantage of any introductory offers that are available you will be able to reduce the total amount you pay on the loan and save money. The AMP Bank Introductory 1 Year Fixed Rate Loan offers you both the fixed rate loan and an introductory interest rate. This rate is even lower that the ongoing variable rate so you will save plenty of money over the first year of your loan and have secure payments for the fixed rate period.
Features of the AMP Bank Introductory 1 Year Fixed Rate Loan
The AMP Bank Introductory 1 Year Fixed Rate Loan offers a variety of features on top of the low introductory fixed rate. These features are:
- Flexible repayment options. The AMP Bank Introductory 1 Year Fixed Rate Loan gives you the flexibility to choose the way you pay off the loan. You can choose from either weekly, fortnightly or monthly repayments. This allows you to organise your repayments so you can pay off your loan as your wage is deposited into your account.
- How much can you borrow. You can borrow up from $40,000 to $2,000,000 on the AMP Bank Introductory 1 Year Fixed Rate Loan. Furthermore, you can borrow up to 90% of the loan to value ratio but if you borrow over 90% of the ratio you will have to pay mortgage insurance.
- How long can you take to pay off the loan. The AMP Bank Introductory 1 Year Fixed Rate Loan is available for a minimum of 10 years and a maximum of 30 years.
- You can make additional repayments. By making additional repayments you are able to reduce the total amount that is owing on the loan faster. Furthermore, by reducing the loan amount you will also pay less interest and save money on the interest that is charged to your account. The AMP Bank Introductory 1 Year Fixed Rate Loan allows you to make additional repayments whenever you like to take advantage of these benefits.
- You can split the loan. You are able to split the AMP Bank Introductory 1 Year Fixed Rate Loan. By splitting the loan you are able to subject one portion of the loan to the AMP Bank Introductory 1 Year Fixed Rate Loan scheme and the other portion to another loan scheme. By subjecting the money you owe to two different loan schemes you are able to take advantage of the benefits of both loans.
- Fees. The AMP Bank Introductory 1 Year Fixed Rate Loan does not require you to pay any valuation and service fees. However, you will have to pay:
- an application fee of $350;
- a legal fee of $295;
- a settlement fee of $250;
- and an exit fee of $300.
When you are applying for a loan it is important to take advantage of all the benefits that are available to you. The AMP Bank Introductory 1 Year Fixed Rate Loan offers you a discounted interest rate and a great fixed rate loan with many additional features. These additional features add flexibility to the loan and can help you pay off the loan faster. If you would like more information on the AMP Bank Introductory 1 Year Fixed Rate Loan please contact us.
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