AMP Bank Professional Package Line of Credit ($100,000-$249,999)(Pro Pack)
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
Line of credit loans are a great way of improving your investment portfolio however sometimes the features are limited and the interest rate is a bit high. However, professional packages are sometimes offered with loans if you are a high income earner and can reduce the interest rate and add features to your loan. The AMP Bank Professional Package Line of Credit ($100,000-$249,999)(Pro Pack) gives you a line of credit loan with a reduced interest rate and additional features. These features help you manage your investments more effectively and make it easier to save money. The AMP Bank Professional Package Line of Credit ($100,000-$249,999)(Pro Pack) offers a low interest rate of 7.12% and a range of features to help you save.
Features of the AMP Bank Professional Package Line of Credit ($100,000-$249,999)(Pro Pack)
The AMP Bank Professional Package Line of Credit ($100,000-$249,999)(Pro Pack)offers a range of features to increase the flexibility of the loan and help you save. These are:
- Subaccounts. The main feature of the AMP Bank Professional Package Line of Credit ($100,000-$249,999)(Pro Pack) is the ability to split your loan into up to 10 subaccounts. Each of these subaccounts can be used to manage a different investment that you have on the line of credit loan. Each subaccount can be subject to its own repayment schedule and even have monthly statements issued for each of the accounts.
- How much can you borrow. Over 20 to 30 years you are able to borrow from $100,000 to $1,000,000. You can borrow up to 90% of the loan to value ratio however if you want to borrow over 90% you will have to pay mortgage insurance.
- You can make extra repayments. The AMP Bank Professional Package Line of Credit ($100,000-$249,999)(Pro Pack) allows you to make extra repayments on each of the subaccounts. By making additional repayments you are able to reduce the amount you owe quicker while reducing the interest that is charged to you accounts.
- Redraw facility. You can draw upon the AMP Bank Professional Package Line of Credit ($100,000-$249,999)(Pro Pack) loan at any time with no limitations or charges. If you choose to make additional repayments or have built up equity you are able to redraw these funds and spend the money on other things.
- The loan is portable. When you borrow large amounts of money it can take a long time to repay the loan. The AMP Bank Professional Package Line of Credit ($100,000-$249,999)(Pro Pack) allows you to move the loan to other investments if you have need to. A small fee of $350 will be charged for the transfer.
- Fees. The AMP Bank Professional Package Line of Credit ($100,000-$249,999)(Pro Pack) does not charge valuation fees. However, the fees you will have to pay are the:
- Application fee of $295;
- Legal fee of $295;
- Settlement fee of $250;
- Service fee of $349;
- Exit fee of $350.
Line of credit loans are very flexible in that they allow you to make whatever repayments you can afford. However, most line of credit loans come with an inflated interest rate. The AMP Bank Professional Package Line of Credit ($100,000-$249,999)(Pro Pack) offers professionals a great line of credit loan with a discounted interest rate. Furthermore, you are able to split the money you owe into different subaccounts. These subaccounts allow you to manage your each of your investments separately, making the hassle of having a large investment portfolio easier to manage. In addition to this, the AMP Bank Professional Package Line of Credit ($100,000-$249,999)(Pro Pack) also offers you a range of features that can help you pay off your loan faster. For more information on the AMP Bank Professional Package Line of Credit ($100,000-$249,999)(Pro Pack) please do not hesitate to contact us.
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