AMP Bank Professional Package Line of Credit ($750,000+)(Pro Pack)
When you are investing or buying a large property you will often have to spend a lot of money. Some providers will offer financially secure professionals discounts and extra features on their loan to attract these low risk customers. The AMP Bank Professional Package Line of Credit ($750,000+)(Pro Pack) offers professionals who are borrowing over $750,000 a great line of credit loan with discounts on the interest rate and extra features. This article will show you all the features and borrowing conditions of the AMP Bank Professional Package Line of Credit ($750,000+)(Pro Pack).
Features of the AMP Bank Professional Package Line of Credit ($750,000+)(Pro Pack)
The AMP Bank Professional Package Line of Credit ($750,000+)(Pro Pack) offers a variety of features that are not available to people who borrow under $750,000. All the features of the AMP Bank Professional Package Line of Credit ($750,000+)(Pro Pack) are:
- Subaccounts. The AMP Bank Professional Package Line of Credit ($750,000+)(Pro Pack) allows you to split your loan into up to 10 subaccounts. These subaccounts can be used to effectively manage different investments or subject a different loan scheme to each of the subaccounts. You are also able to organise different repayment systems and receive monthly statements for each of the accounts.
- How much can you borrow. The AMP Bank Professional Package Line of Credit ($750,000+)(Pro Pack) allows you to borrow any amount from $750,000 to $2,000,000. You will have between 20 to 30 years to pay off the full amount. You are able to 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. You can make additional repayments while repaying the AMP Bank Professional Package Line of Credit ($750,000+)(Pro Pack). You can even make additional repayments on a specific sub account if that investment brings back a higher than expected return for the month. By paying extra on the AMP Bank Professional Package Line of Credit ($750,000+)(Pro Pack) you are able to reduce the time it takes to pay off the loan and reduce the interest charged to the loan.
- Redraw facility. If you make any additional repayments you are then able to draw upon them using the AMP Bank Professional Package Line of Credit ($750,000+)(Pro Pack) redraw facility. This is a handy feature that allows you to have fast access to extra money if you need it. In addition to this you will have also receive the benefits of having the interest charges lowered while the money while on your loan account.
- The loan is transferable. The AMP Bank Professional Package Line of Credit ($750,000+)(Pro Pack) allows you to move your loan to other investments. A fee of $350 will be charged for the transfer however you will save money by avoiding the costs of applying for a new loan.
- Fees. The AMP Bank Professional Package Line of Credit ($750,000+)(Pro Pack) does not charge valuation fees but you will have to pay the:
- Application fee of $0 ;
- Legal fee of $295;
- Settlement fee of $250;
- Service fee of $349;
- Exit fee of $350.
By borrowing more money and being a low risk professional you are able to save even more on your loans. The AMP Bank Professional Package Line of Credit ($750,000+)(Pro Pack) offers you a discounted interest rate, an effective way to manage your loans and a variety of features that give you added flexibility. If you qualify for the AMP Bank Professional Package Line of Credit ($750,000+)(Pro Pack) you can be sure that your are getting the best loan that is available to you. If you would like any more information about the AMP Bank Professional Package Line of Credit ($750,000+)(Pro Pack) please contact us.
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