Distributor Newsletter

$2,000 rebate for your LMI customers.

 

Whether your customer is looking for a new owner-occupied purchase or a new investment purchase, if they require Lender’s Mortgage Insurance and their LVR is >80%, then we will provide them with a $2,000 rebate, no matter the LMI cost.

 

Example

 

You have a customer who is purchasing a property to live in with a value of $1,000,000 seeking a loan of $830,000, so an LVR of 83%. They are required to pay LMI of around $8,500 which will be paid by the customer as usual. Within 60 days of settlement we will pay $2,000 to the customer in effect reducing their LMI cost to $6,500.

 

To be eligible

  • Special $2,000 LMI rebate for customers purchasing a property. A flat $2,000 rebate will be paid regardless of individual LMI cost.
  • Available for customers required to pay LMI with an LVR of >80%.
  • Available for applications made between 19 June 2024 and 31 August 2024 (inclusive) which settle on or before 30 November 2024. AMP Bank reserves the right to withdraw this offer at any time.
  • No minimum home loan amount.
  • The offer is not available on refinances or for the restructure or switches between home loan products within AMP Bank.
  • The offer is available on Professional Package, Essential, Basic Package, Select Package and AMP First home loan applications only.
  • Limit of one LMI rebate regardless of the number of applications, applicants, properties or loans involved.
  • This offer is open to Australian residents aged 18 and over. Conditions, credit criteria, fees, charges, eligibility criteria and exclusions apply.
  • Follow this link for the full eligibility criteria.

Professional Package key features 

Up to 10 offset accounts that are fully transactional

 

Up to 10 offset accounts allowed, can be set up as individual or joint to give customers banking flexibility.
Read more

Master Limit feature

 

Professional Package Master Limit feature (like a line of credit) is an overall lending limit that can provide flexibility to restructure debts without the need for a full application. Establish a master limit of up to 80% of total security value.
Master limit features

Service times for new business

  • 2 days PAYG and Self-Employed where no further information is required
  • 2 days Pipeline applications (once outstanding requirements have been received)
  • 2 days Standalone pre-approval applications
  • 10 days for deals in Company and Trust applications

The above are estimates only and may change, please visit our page for more information
Service times

We’ve reduced our Fixed Rates

  • Effective Monday 17 June 2024, we’ve reduced rates across the board on Investors and Owner Occupied in our Professional Package.
  • Investor P&I starting from 6.09% pa
  • Investor IO starting from 6.24% pa
  • OOC P&I starting from 5.99% pa

Please refer to the current Interest Rate Bulletin for a full list of our interest rates.

The people behind the bank

 

I’m Rich Yu and I’m a Broker Experience Specialist

As a dedicated Broker Experience Specialist, Rich goes beyond answering queries and providing solutions. Her mission? To brighten brokers’ days and establish genuine connections. Rich embodies respect, trustworthiness, and enthusiasm, ensuring every customer interaction leaves a positive impression. She’s not just happy to help; she’s committed to serving brokers selflessly. And when she’s not at work, Rich’s soul resonates with music, while food fuels her zest for life. If you’re up for a challenge, try engaging her in a karaoke showdown!

Our 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 21 June 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.

 

This email was sent by AMP Bank Limited, Level 2, 2-12 Macquarie Street, Parramatta NSW 2150 to bhavna_rai@amp.com.au.