Low Doc Home Loan - AMP - Lo Doc

Comparison Rate	7.06%
Amount	$200,000
Term	30 years
Monthly Payment Est.	$1,307.85
Total Amount Paid Est.	$479,850
Establishment Fee	$0.00

6.83%

Target Market
This product will appeal to customers that experience uneven cash flows, have difficulty in separating their personal and business cash flows or who don’t have up to date financial statements. ,
Secured by residential property.

Acceptable Income
Primary borrower must be self-employed for a minimum of 2 years, holding a valid ABN for at least 2 years. At least one borrower must be registered for GST for a minimum of 12 months in all instances regardless of income declared. Co-borrower can be PAYG.

Home Loan Loan Term
Variable Rate
Maximum term 30 years
Lines of Credit
Min Total Term 20 years
Max Total Term 30 years

Home Loan Loan Size
Minimum $40K ,
Maximum Loan Amount secured against a single security $1M. ,
Maximum Borrower Exposure $2.5M

Home Loan Repayment Type
Variable: Principal & Interest and Interest Only ,
LOC: Principal & Interest and Interest Only ,
Fixed Term 2 or 3 Years

Repayment Options
Principal & Interest - Weekly, Fortnightly, Monthly ,
Interest Only - Monthly Only ,
Line of Credit - Monthly Only

Extra Repayments
Additional repayments permitted. ,
Fixed Rate Loans up to a maximum of $10K per 12 month period (per split).

Split Loan Facility
Up to 10 splits minimum split is $10K. ,
Low Doc loans cannot be split with Full Doc Loans.

Offset
Yes - 100% Mortgage Offset available on Variable Rate Loans Only no account keeping or domestic transactions fees and no minimum balance.

Redraw Facility
Available on Variable and LOC with no minimum amount & no fees. ,
Cheque Book for LOC only. ,
Special Service fees apply.

LVR for Low Doc Home Loan - AMP - Lo Doc

Owner Occupied Maximum LVR 80% ,
Investment Maximum LVR 80% ,
Construction Maximum LVR 0 ,
Refinancing Maximum LVR 80% (owner occupied loans only)

Fees for Low Doc Home Loan - AMP - Lo Doc

Establishment Fee $0 ,
Settlement Fee $550 plus Solicitors Fee $295 (Displayed as Mortgage Preparation Fee) ,
Annual Package Fee $299 (payable at settlement then annually) ,
Pre Approval Fee $350 ,
Master Limit Application Fee $200 ,
Account Management Fee $0 ,
Split Loan Fee $0 (Up to 10 free) ,
LMI processing Fee $100 (In addition to any LMI premium ) ,
Rate Lock Fee ,
- Included with the initial loan application at any time 0.15% of FR facility amount ,
- After the initial loan application , and AMP has not announced a Fixed Rate Loan interest rate change 0.15% of FR facility amount ,
- After the initial loan application, and AMP has announced a Fixed Rate Loan interest rate change and before the effective date of that change ,
0.25% of FR facility amount ,
Fixed Rate Break Fees - $150 per fixed split + interest rate break costs. ,
Additional Security Fee $250 per security ,
Deferred Establishment Fee 1% of the original loan amount if fully/partially discharged within years 1-2 ,
Deferred Establishment Fee $ 1,000 if discharged within years 3 and 4. ,
Loan Variation Fee / Switch / Increase Fee / Product Change Fee $350 ,
Valuation fees First is free. For valuations <$1M customers pays excess of $220 for metro and $330 for non-metro. For $1M customer pays excess of $550 in all areas.