Distributor Newsletter

New home loan application journey

 

We are excited to share with you that we are partnering with Simpology to deliver a simplified end-to-end home loan application journey which will fast-track ‘time to yes’ plus give greater visibility and certainty of an application from submission to settlement.

 

Visibility:

  • Self-service capability
  • Complete visibility of the application status and progress providing full transparency
  • Integrated information requests to keep the application moving quicker
  • Ability to connect with the person who is working on the application

Automated decisioning:

  • Real-time decision-making processes
  • Fully digitised identification processes re-using what has already been done by the broker up-front
  • Up-front verification of credit-critical data - guiding what you need to do prior to submission
  • Straight-thought processing capability

Instant support:

  • Live chat and messaging
  • Instant feedback on application data
  • When support from AMP Bank is required, it is immediate and specific to the application’s scenario
  • BDM and our Broker Experience team can see inflight applications.

Recap: April credit policy changes

Zone 1 and 2 Loan size increased

 

Zone 1 and 2 loan size has increased. No exception required for loans up to $2 million, for loans above $2 million please contact your BDM.
Credit policies

High density security lending

Policy details you need to know

  • For buildings >6 months old, max LVR for OO PI 90% + LMI and Inv PI 90% LMI
  • Max LVR for <6 months old or IO repayments is 80%
  • 70% of the verified gross rental income or 65% when rental estimate used – max rental yield capped at 6%
  • Investment property costs as captured within HEM
  • Negative gearing benefit based on actual rate the borrower is paying

New Business Pricing

We have reduced rates on Owner Occupied in our Professional Package for principal and interest customers. Rates starting from 6.14% pa.

 

Interest rate bulletin

The people behind the bank

 

I’m Kenneth Pulia and I am a Broker Experience Specialist.

Kenneth likes to think that making a difference is not just by answering queries and provide solutions, but making brokers’ days better; providing a human connection in every interaction, being respectful and trustworthy, and striving to greet every customer with an enthusiastic attitude and respect.

 

He believes that establishing a good working relationship with your brokers by providing an excellent service and leaving a good impression in their hearts that you are taking care of them in the best way you can is the key to his role.

 

Kenneth likes music, and sites food as his truest happiness. He’s always down to be challenged in karaoke!

The Broker Experience Team 

 

The Broker Experience Team is your end-to-end partner from onboarding, deal status updates, enquiries about processing times, governance or anything that can’t be answered via ApplyOnline®. At AMP we continue to do all we can in supporting our brokers like you, so you can focus on supporting your customers.

 
What you need to know
 
The credit provider is AMP Bank Limited ABN 15 081 596 009, AFSL and Australian Credit Licence 234517.  Approval is subject to AMP Bank guidelines. Information including interest rates is correct as at 3 May 2024 and is subject to change without notice. Terms and conditions apply and are available at amp.com.au/bankterms or by calling 13 30 30. Fees and charges are payable. Before making a decision about an AMP Bank product your customers should consider the terms and conditions. Read our Financial Services Guide available at amp.com.au/fsg for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relation to products and services provided to you.
 
For Notice Accounts only: Before making a decision about this product your customers should consider the Notice Account PDS available from AMP at amp.com.au/bankterms or on 13 30 30.
 
2This rate is applicable to applications received from Intermediaries only.
 
This email was sent by AMP Bank Limited, Level 2, 2-12 Macquarie Street, Parramatta NSW 2150 to bhavna_rai@amp.com.au.