Home Loan Fees and Charges Guide

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Home Loan Fees and Charges Guide Powered By Docstoc
					Take control of your money                                                                                                                                                                          AMP Banking   Special Service Fees for all Home Loan Products
This guide outlines the fees and charges for AMP Banking’s loan                                                                                                                                                   Cheque fees
accounts. For information on fees and charges for our deposit         Notes                                                                                                                                       Bank cheque                                                      $10
accounts or if you have any questions, call AMP Banking on            These notes are to be used in conjunction with the fees and charges inside this guide.                                                      Replacement bank cheque                                          $35
13 30 30 or speak to your AMP Financial Planner.
Fees and charges for all Home Loan Products always apply for
                                                                      1. Customers also pay the actual solicitor’s costs, which include, for example, search fees
                                                                         and postage, valuation costs if applicable and any applicable government fees, which
                                                                         vary from state to state.                                                                   Home Loan Fees                               Repurchase bank cheque
                                                                                                                                                                                                                  Special clearance deposit - request made to other bank
                                                                                                                                                                                                                  Cheque dishonour fee

                                                                                                                                                                     and Charges Guide
special services - refer over for details.                            2. These are standard costs billed by Bank solicitors or mortgage processing providers
                                                                         directly to customers and exclude non-standard additional costs that may be payable,                                                     Stop payment on a personal and bank cheque                        $7
                                                                         including courier costs, telegraphic transfer charges, cost to arrange settlement in a
How to minimise your fees                                                regional area.
                                                                      3. Payable monthly on each facility that is $100 or more in arrears for one or more
                                                                         consecutive payment dates.                                                                                                               Duplicate statement fee when you request a reprint of a statement,
Use AMP Banking for all your banking needs                            4. Plus, the amount which is reasonable costs to us, if any, because you repay all or part                                                  additional statement or transaction history         $12 (per copy)
                                                                         of the money owing during any fixed interest period early or you change the annual
Consolidating your banking makes it easier for you to manage your        percentage rate during any fixed rate period.                                                                                            Other Special Service fees
money, move funds around and reduce transaction fees.                 5. This fee applies to all Introductory Rate Loans and any settled loans where the                                                          Bank Assist (Personal Banking) Fee                                $3
                                                                         application was received on or after 26 June 2000.
                                                                                                                                                                                                                  Dishonoured outward payment (Direct Debit)                       $40
Use BankNet and BankPhone services                                    6. An Additional Deferred Establishment Fee of 1% of the original facility amount applies if
                                                                         you have an:                                                                                                                             Copy of a deposit slip, voucher or deposited cheque              $20
Register for our secure Internet and Phone Banking services,                 Affinity Variable Rate Loan                                                                                                          Certificate of account balance or interest rate                  $20
so that you can bank anywhere, any time*.                                    Affinity Fixed Rate Loan                                                                                                             Bill for collection (other bank closing AMP Banking account
                                                                             Affinity Line of Credit
                                                                                                                                                                                                                  on customer’s behalf)                                            $20
Make the most of Automatic Payment Services                                  Select Variable Rate Loan
                                                                                                                                                                                                                  Transaction verification                                         $nil
                                                                             Select Fixed Rate Loan
Use automatic services such as Direct Debit, Bpay®, automatic                Select Line of Credit                                                                                                                Transaction Trace                                                $45
salary deposits and periodical payments to transfer your money.              Basic Variable Rate Loan
                                                                                                                                                                                                                  Deposit services
There may be bank fees for using automatic services.                         Low Doc Variable Rate Loan
                                                                             Low Doc Fixed Rate Loan                                                                                                              Deposit book                                                      Free
Minimise your use of BankAssist for your transactions                        Low Doc Line of Credit                                                                                                               Dishonoured cheque deposit                                        $15
                                                                             Introductory Professional Package Variable Rate Loan                                                                                 Dishonoured inward payment (Direct Debit)                         $12
A BankAssist (Personal Banking) fee will apply if we perform a               Introductory 1 Year Fixed Rate Loan                                                                                                  Transaction Honour Fee                                 $18 (per item)
transaction you could do with BankNet or BankPhone. Enquiries or         and fully discharge your loan within 2 years from the original Settlement Date.
                                                                                                                                                                                                                  Mail credit without deposit slip (not initial deposit)          $3.50
changes will not incur the fee. We will explain if a fee applies.        If you have a:
                                                                             2005 Special Introductory Variable Rate Loan and fully discharge your loan within 3                                                  Foreign currency draft/cheque                              up to $50
                                                                             years of the original Settlement Date.                                                                                                                                           (plus overseas bank fee)
Use EFTPOS                                                               If you have an Introductory Classic Variable Rate Loan and partially or fully convert
Withdraw cash when you purchase with EFTPOS and pay only once.           your facility to a product type other than Classic Variable Rate Loan within 2 years                                                     Access Card services
                                                                         from the Settlement Date of your facility, or partially or fully discharge your facility                                                 Currency conversion if transaction in currency              2.5% of
                                                                         within 2 years from the Settlement Date.
Use your AMP Credit Card for your purchases                           7. The Settlement Fee for Affinity and Select Home Loan Packages is $350.                                                                   other than Australian                          transaction amount
You earn valuable reward points by purchasing with your AMP           8. Payable each time we refund your advance payments from your Basic Variable,                                                              International EFTPOS transaction                              $1.50
Credit Card and keep transaction fees to a minimum.
                                                                         Advantage Variable or Low Doc $10 plan home loan.                                                                                        International ATM cash withdrawal                             $5.50
                                                                      Note: Other fees relating to special promotions may apply.
                                                                                                                                                                                                                  Access Card replacement
Avoid Special Service Fees                                                                                                                                                                                        First replacement Access Card                                    Free
Keep statements and manage your payments and cheques so they                                                                                                                                                      Each subsequent replacement Access Card                          $12
don’t dishonour. Use BankNet and BankPhone to keep track of your                                                                                                                                                  Request for emergency replacement Access Card
transactions if you’re unsure.                                                                                                                                                                                    (when available)                                      additional $15
                                                                                                                                                                                                                  International services
We can help you choose the right accounts -
                                                                                                                                                                                                                  Telegraphic transfer, purchase overseas or local currency        $35
call 13 30 30                                                                                                                                                                                                     Telegraphic transfer, inward                                     $20
Talk to us. We can help you choose the right account for your needs                                                                                                                                               Foreign currency draft                                           $25
and give you tips on ways to keep your fees down.                                                                                                                                                                 Foreign currency draft repurchase                                $20
* Subject to system availability.                                                                                                                                                                                 Foreign currency stop payment                                    $35

                                                                      Issued by AMP Bank Limited
                                                                                                                                                 308006 03/09        EFFECTIVE DATE: 3 MArCh 2009
                                                                      ABN 15 081 596 009, AFSL No. 234517
                                                                                                                                                                           Home Loan Establishment fees                                                          sub-division of security property
                                                                                                                                                                                                                                                                 subsequent mortgage
                                                                                                                                                                           Establishment Fee                                                                     changes affecting the security property
                                                                                                                                                                           Where a single security property is offered. Not refundable                           extension of interest only term
AMP Banking Home Loan Packages                                                                                                                                             if you withdraw your application. Also payable for all                                substitution or partial release of security property.
                                                                                                                                                                           applications with a Loan to Value Ratio of >90%.                          $350    Also payable for any other variation affecting the security to which
                                    CLASSIC CLUB               PROFESSIONAL PACKAGE SELECT PACKAGE                           LOW DOC PACKAGE               BASIC
                                                                                                                                                                           Settlement Fee                                                                    we agree.                                                          $3501
 Annual package fee                 $0                         $349                           $349                           $299                          $0              Payable to cover processing and administration costs for                          Switch Fees
 Variable Rate Loan                                                                                                                                                        settlement of your loan, not refundable.                                  $250    Switching from a Fixed Rate Loan to another.
                                                                                                                                                                           Low Doc Loans.                                                            $550    Variable or Fixed Rate Loan at the end of a Fixed rate period.            Free
      Monthly account
      management fee*               $10                        Included in annual fee         Included in annual fee         Included in annual fee        $0              Waived for Professional Package.                                                  Switching your loan to another type of interest rate
                                                                                                                                                                           Affinity, Select and Staff packages refer to Note 7.                              (eg fixed and variable) or repayment type (eg interest only
      Included transactions         Limit of 15 free per       Unlimited                      Unlimited                      Unlimited                     Unlimited**                                                                                       to principal and interest) or any other type of Term Loan.               $350
                                    month†                                                                                                                                 Multiple Security Fee
                                                                                                                                                                           Payable for each additional security, not refundable.                     $250    Other Fees2
 Fixed Rate Loan                                                                                                                                                                                                                                             Solicitors and Mortgage Processing Servicers’ Costs
                                                                                                                                                                           Guarantor Administration Fee
      Monthly account                                                                                                                                                      Payable for the additional processing and documentation                           Whenever a new loan agreement is established and we instruct
      management fee                $10                        Included in annual fee         Included in annual fee         Included in annual fee Not available          required when there are guarantors to the loan.                           $200    the Bank’s solicitors or mortgage processing servicers to act on our
                                                                                                                                                                                                                                                             behalf in connection with the agreement or security.
 Line of Credit                                                                                                                                                            Master Limit Application Fee
                                                                                                                                                                           Payable to cover processing and administration costs for                          For loan agreements with up to 2 security properties          $295 (incl GST)
      Monthly account                                                                                                                                                      establishing and ongoing maintenance of your Master Limit.                $200    For each additional security property                        $100 (incl GST)
      management fee                $10                        Included in annual fee         Included in annual fee         Included in annual fee Not available          Pre-approval Fee                                                                                                                         per security property
      Included transactions§        Limit of 25 free per Unlimited                            Unlimited                      Unlimited                     Not available   Payable for all pre-approval applications. Must be submitted with                 Solicitors and Mortgage Processing Servicers’ Incidental Costs
                                    month†                                                                                                                                 application. Refunded to the loan account after settlement.       $350            Whenever a variation to an existing loan agreement is
                                                                                                                                                                                                                                                             made and we instruct the Bank’s solicitors or mortgage
* Also applies to Construction Loans. Waived for Land Loans.                                                                                                               Other Home Loan Fees                                                              processing servicers to act on our behalf in           $82.50 (inc GST)
** Free internet and phone banking redraw (excludes BPAY and card access). Also applies to Land Loans.                                                                     Valuation Fee                                                                     connection with the security properties.          per security property
† Unused included transactions expire each month.                                                                                                                          Valuation <$1 million                                                             Lenders Mortgage Insurance (LMI) Processing Fee
                                                                                                                                                                               Metropolitan areas             Any valuation costs in excess of $220          Payable where Lenders Mortgage Insurance is required on your loan,
                                                                                                                                                                               Non-Metropolitan areas         Any valuation costs in excess of $330          in addition to any separate LMI premium payable on your loan.      $100
                                                                                                                                                                           Valuations >$1 million - all areas Any valuation costs in excess of $440
                                                                                                                                                                                                                                                             Default Fee                                                   $100 per mth3
                                                                                                                                                                           Split Loan Annual Fee
Guide to AMP Banking transaction fees                                                Included Transactions mean§                                                           Charged on each additional split payable annually                                 Progress Payment Fee
                                                                                                                                                                           commencing the first anniversary after settlement.                                Payable on Construction Loans per progress payment.                      $100
Here’s what’s FREE with AMP Banking.                                                  TRANSACTION TYPE                                  FEE ONCE LIMIT IS REACHED          Waived for Professional, Low Doc, Affinity and Select Packages.          $75 pa   Early repayment Fee (Fixed Rate Loans) $1504 plus interest break costs
Complete these transactions through BankNet and BankPhone for                         ATM transactions at rediATMs                      $1.50                              Increase in Loan Amount/Credit Limit                                              redraw Fee                                                               $508
fee-free banking.                                                                                                                                                          Payable when you request to increase your loan amount or credit limit. $350
                                                                                      Australian EFTPOS transactions                    $0.65                                                                                                                Discharge Fee
    Periodical Payments to AMP Banking accounts.                                                                                                                           Product Change Fee                                                                Payable when we are requested to discharge all securities.              $3501
                                                                                      Personal cheque withdrawals                       $1.00
                                                                                                                                                                           Payable when you request your facility to be changed from one
    Pay Anyone when you register their external bank account.                                                                                                                                                                                                Deferred Establishment Fee
                                                                                      Australia Post deposits^                          $1.70                              product type to another.
                                                                                                                                                                                                                                                             Applies if you repay all the money owing and discharge
    Transaction listings.                                                             Bpay®                                             $0.50                              (Not applicable to restructure requests under a Master Limit.)            $350
                                                                                                                                                                                                                                                             your security within four years of settlement.                        $1,0005
    Transfers to AMP Banking accounts.                                                                                                                                     Additional Security Fee
                                                                                      Periodical payments to accounts held                                                                                                                                   Additional Deferred Establishment Fee                           (refer note 6)
                                                                                                                                                                           Payable for adding one or more additional security
    Account balance enquiries.                                                        with other institutions                           $2.50                              properties after loan settlement.                         $250 per security       Secure rate Guarantee Fee
Depositing is free of bank fees when you arrange a direct credit or                  § Non-rediATM and international ATM transactions excluded.                                                                                                              Payable to secure the fixed interest rate on Fixed Rate Term Loan facility
                                                                                                                                                                           AMP Internal refinance Fee
mail your cheques to AMP Banking.                                                                                                                                                                                                                            for up to 90 days from the Fixed Rate Quoted Date, not refundable.
                                                                                     ^ For Classic Loans this is not an included transaction, fee always applies.          Payable on settlement where you had an AMP Banking loan
                                                                                                                                                                                                                                                             Fee is a percentage of the Original Fixed Rate Facility Amount.
                                                                                                                                                                           immediately before establishment of this loan and that loan was
                                                                                                                                                                                                                                                                  If requested at application.                                         0.15%
                                                                                                                                                                           refinanced or otherwise replaced with this loan, either in part or in
                                                                                                                                                                                                                                                                  If requested after application where no change in fixed
                                                                                                                                                                           whole. This fee is not payable in respect of any loan you held with
                                                                                                                                                                                                                                                                  interest rate has been published.                                    0.15%
                                                                                                                                                                           AMP Banking under which the Discharge Fee was payable.                $350
                                                                                                                                                                                                                                                                  If requested after application after a change in fixed
                                                                                                                                                                           Consent Fees                                                                           interest rate has been published.                                    0.25%
                                                                                                                                                                           If you ask us to review or consent or produce documents
                                                                                                                                                                                                                                                             rework Fee
The fees stated are current as at the date of this brochure but may change from time to time. We will notify you of changes as required                                    of title in connection with your facility or any security relating to:
                                                                                                                                                                                                                                                             Payable if we have already issued a Loan Contract or Variation Contract and
under the terms and conditions of your account.                                                                                                                                 a change in name of existing loan
                                                                                                                                                                                                                                                             we re-issue the Loan Contract or Variation Contract, prior to settlement,
                                                                                                                                                                                consent to lease security
                                                                                                                                                                                                                                                             due to changes requested by either customer or introducer.              $100

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Description: Home Loan Fees and Charges Guide