Amp ????

[WinstonWolfe]

So my question is, what makes AMP different from the others & why? Am I putting myself in a risk if a get a loan with AMP? Aren’t all others a risk as well?


Cheers
George

If Australia follows the USA into a severe recession and most stable Aussie businesses and home owners are with the Big 4 and fewer with the AMP, AMP is likely to have a higher rate of defaults.

If the AMP needs to borrow more of its funds from foreign sources (than the Big 4), and the cost of those sources increases, then the AMP is likely to increase rates just as RAMS and MACBANK have.

Why not ask your AMP MB what % of funds AMP borrows from outside Australia. and get him to warrant his response via email. May as well ask him at the same time what exposure AMP has to sub prime and who AMP's reinsurers are and what their sub prime exposure is.

 

[voigtstr]

Have you brokers noticed the 97% LVR loans drying up? We had to accept a 95% lvr loan on our current purchase (with offset and interest only) with an ANZ professional package (with credit cards we are unlikely to ever use).

 

[Spectre]

Luke, has that fixed rate redraw cap changed from 15k. IMHO, a gimmick, just so's they can include redraw as a selling feature.

Yes... but an arrow in the quiver for some flex never hurts

 

[Shaun M Smith]

Amp

From my expereince AMP's servicing requirements have in the past suited medium sized investors with several properties. They have allowed several of my clients to achieve what they couldnt else where.

From a rate and fee perspective they are fairly comparative to the majority of tier one lenders in our market. From a service perspective I havent had any complaints.