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AMP Bank – Making your dream home a reality

Make a head start with a home loan that will be suitable for your needs.

So now that you have thought about taking the plunge and you’ve done your research, saved up for a down payment or perhaps calculated the equity in your existing home, have done your homework on locations and homes that look pleasing and of good value, what will be the next step?

Look at today’s markets and get to know what kinds of home loans are offered, make sure you take the time to match the loan according to your financial comfort level, and also the property you would like to purchase. Bearing in mind that it’s important to be ready as this is often a big step.

They partner with Australia’s leading blue-chip companies providing their employees with corporate retirement offerings, this means they partner with 55 000 Australian companies. They also provide their services to over 100 000 AMP Bank Customers, their investment management business looks after over 480 clients in Australia and New Zealand plus they have over 290 international clients in areas that include China, Japan, The Middle East, the UK, Hong Kong, New Zealand and the US.

The buying process

It doesn’t matter which stage you are in during the purchasing process, from planning to purchase your first home to purchasing an investment property. They have put together a few tips to assist you in getting it right.

• Save on a regular basis for a contribution towards your deposit.
• Do enquiries to find out if you are eligible for a First Home Buyers Grant, Stamp Duty concession or any other incentive in your state.
• It’s advisable to work with real estate agents in your neighbourhoods.
• Before purchasing the first home you see inspect several homes to match features and value.
• Make a point of understanding home loans
• Check the resident sales histories and search for properties in your chosen area.
• Make sure the home loan that you submit a loan application for is the one that’s suitable for you.

Get an understanding of how much you can borrow.

It’s important that you think about how much you can manage to pay on repayments without disturbing your way of life, so keep this in mind when you start pursuing your home loan. Once you have bought your property, consider your repayments and what you can afford to settle your home loan sooner.

To give you a kick start, they have put together a few tips and tools, to assist you with your research and start the home-buying process on the right foot.

Some advice on paying off property sooner

Understanding precisely what you are paying and when you are paying for it, is the first step in taking control of your finances when it comes to your home loan because it’s easy to feel out of control at times and purchasing a home can be very stressful, but it doesn’t have to be that way.

Once you are comfortable and have come to know all the ins and outs of your home loan, you should be in a much better position to start finding ways to pay off your home loan sooner than expected. It is advised to keep all other forms of debt such as car loans, personal loans and credit card debt to a minimum.