Warning: Part 9 Debt Agreements have serious consequences
With Australia’s household debt-to-income ratio being one of the highest in the world, individuals and families are finding it harder than ever to keep up with their repayments.
specialGet one of the lowest variable interest rates on the market and pay no application or ongoing fees
Get one of the lowest variable interest rates on the market
Smart Home Loan
Fixed - 1 year
Interest rate structure
Fixed - 1 year
$100k - $2.5mCalculate how much you can borrow
Principal & interest
Loan term range
10 - 30 years
Allowed with restrictions
Allows split interest
ACT, NSW, NT, QLD, SA, TAS, VIC, WA
Estimated upfront fees
Minimum SMSF Amount
AMP Bank is a financial services company that was formed in 1849 as the Australian Mutual Provident Society.
AMP was made public in 1998 and now employs more than 5400 staff with over $110 billion in total assets and 820,000 shareholders. The company also includes AMP Capital, one of the largest investment managers in Asia Pacific with operations throughout the world. The bank has a head office in Sydney and provides a number of services, such as financial planning and banking products as well as investment advice through AMP Capital.
AMP Mortgage Calculator
Interested in an AMP home loan? RateCity has a suite of calculators that can show you what your repayments would be and how AMP compares to its competitors. Simply plug in your borrowing amount below.
The best mortgage to suit your needs will vary depending on your individual circumstances. If you want to be mortgage free as soon as possible, consider taking out a mortgage with a shorter term, such as 25 years as opposed to 30 years, and make the highest possible mortgage repayments. You might also want to consider a loan with an offset facility to help reduce costs. Investors, on the other hand, might have different objectives so the choice of loan will differ.
Whether you decide on a fixed or variable interest rate will depend on your own preference for stability in repayment amounts, and flexibility when it comes to features.
If you do not have a deposit or will not be in a financial position to make large repayments right away you may wish to consider asking a parent to be a guarantor or looking at interest only loans. Again, which one of these options suits you best is reliant on many factors and you should seek professional advice if you are unsure which mortgage will suit you best.