Our home loan options
It's your choice!
One size does not fit all, and an AMP Adviser can help you choose the home loan(s) that best suit you.
Sometimes called a floating rate, the interest rate can move up or down with market conditions. You will pay less interest if rates fall. However, you'll pay more if interest rates rise.
Your repayments won't change during the term of the fixed rate, even if market rates move - which is great for planning or if you're on a fixed income.
If interest rates increase, your interest rate and repayment amounts remain the same. However, if interest rates fall below your fixed rate, you won't benefit as your interest rate is fixed.
Click here for information about fixed rate break costs.
An AMP Flexi Home Loan offers you further flexibility in managing your repayments and the freedom to draw down funds against your loan through a revolving credit facility. There are two AMP Flexi Home Load options. While both offer you a revolving line of credit, each has a different maximum credit limit option; a reducing limit or a flat limit.
With a reducing limit, you not only have the flexibility to repay and draw down funds on your loan, but also the added security of knowing that as the limit reduces you will pay off your loan over a period of time.
The flat limit revolving credit facility gives you full control of your finances. The limit acts just like an overdraft.
With an AMP Flexi Home Loan, you have the flexibility to redraw at any time - great news if you're renovating your home, buying a new car or taking a holiday.
You can also make additional repayments without penalty. This means you can save thousands of dollars in interest and take years off the term of your home loan.
As a revolving credit home loan can require more discipline than other types of home loans, it's important to ensure that this type of home loan suits your lifestyle, spending habits and financial goals. For more information on AMP Home Loans, contact us to talk to an AMP approved lending Adviser.
Because AMP Home Loans are all about flexibility and putting you in control, you don't have to choose just one type of loan - you can choose a combination.
For example, many people choose a fixed rate for a portion of their loan, and put the rest on variable rate.
This combination gives you budgeting certainty from the fixed portion of your loan, and flexibility from the variable part. The variable portion lets you make extra repayments or change the amount of your repayments, which can save you more money over time.
It can be the best of both worlds. Your AMP Adviser will be able to help you workout the best combination to suit your situation.
Want to find out more?
Use the links below for more information:
AMP Home Loans
Choosing the right type of home loan
How much can I borrow?
How do I make repayments on my AMP Home Loan?
Switching your home loan from another provider
Other ways AMP can help with your home loan
Glossary of home loan terms
Or contact us and we'll put you in touch with an AMP Adviser. They will be able to help you work out the best combination to suit your situation.