AMP Bank

[Rixter]

Any brokers know much/anything about AMP Bank?

 

[Bradsdad]

Any brokers know much/anything about AMP Bank?

I know I don't use them. 100% of rent for up to 80% of LVR's and assessment of actual repayments on existing loans are the 2 main benifits of them as I see it along with a basic product with a 100% off-set account. A pity their rates are pricey.


Is there something specific you needed to know?


Regards
Steve

 

[Rolf Latham]

OK product

Mainly Balance sheet lends.

Good product for debt recycling with a Master Limit Like STG and NAB portfolios, but quicker to rebalance limits.

"flexible" credit policy to 80 % full doc

Paperwork is a pain, but once over that seems ok.

ta
rolf

 

[Jamie_D]

Sounds like their aggressive and expensive ad campaign is working

They're generating some interest finally

Good products, however not as competitive as mentioned by Steve

 

[Rixter]

A pity their rates are pricey.

I wouldnt call their LOC rate at 5.54% pricey?

 

[dreaming]

I have a loan through their credit union.

Don't know about their bells and whistles but the variable rate I have with them is 4.74%, they like you to be a member to get it and bank with them for a while first but at that rate it's worth doing it and they have been very good to me.

 

[redwing]

geez nice rate dreaming

6.43% variable on their low-docs Rixter

Clicky Link

 

[Rixter]

geez nice rate dreaming

6.43% variable on their low-docs Rixter

Clicky Link

Full Doc LOC $250,000 to $749,9996 - 5.54% p.a.

 

[redwing]

Full-Doc (head spins) now that sounds interesting

We're currently looking at where or whether we can milk some more equity from the cows, they've been getting a bit more of the green stuff of late, so need to see whether they have put on some weight

 

[Rixter]

Yeah. What with portfolio rents increasing $21,000 p/a basically over the last 13 months, and rates dropping, its a very welcome surprise to find I've dropped back into the full doc sector.

 

[redwing]

great news, congrats

 

[Qlds007]

If all lenders go back to the days when they tell you are too rent reliant i have a problem even with a LVR of around 15% lol

 

[PrimeCommercial]

Full Doc LOC $250,000 to $749,9996 - 5.54% p.a.

Plus, I hear that staff get a nice fat discount to that rate

 

[Rolf Latham]

Rent reliant is just PC talk for

Nick off, we dont want your business

ta
rolf

 

[ffc1883_1996]

...with portfolio rents increasing ... and rates dropping, its a very welcome surprise to find I've dropped back into the full doc sector.

I found that too. Though it wasn’t economic to give Macq the flick altogether, I was recently able to refinance from NoDoc to FullDoc which dramatically reduced the interest rate.

Sorry off topic.