AMP Home Loan Review 2026

Looking at a loan through your super fund? New residential SMSF borrowing was restricted from 10 August 2026. See the SMSF rules and AMP's refinance option below.

AMP uses the loan amount and the property value it accepts to calculate your loan-to-value ratio, or LVR. The postcode, property type, repayment option and product can all reduce the maximum. Lenders Mortgage Insurance protects the lender, even though you pay for it.

For example, if your base loan is 88% of the property value, you are above the 85% savings threshold even though you are below 90%. We'll check the source of your contribution and the purchase costs before you make an offer. Our genuine savings guide explains the evidence lenders may ask for.

AMP is not on the current Australian Government 5% Deposit Scheme lender panel, checked on 9 September 2026. You need a participating lender to use the Scheme. Our 5% Deposit Scheme guide, professional LMI waiver guide and guarantor home loan guide explain the other deposit options.

AMP may suit you if you can provide full financial records. You generally need at least 2 years in business, your most recent year's personal and business tax returns, and the latest Notice of Assessment. AMP may ask for additional documents. After 31 March, the latest financial year's figures are required. New low-doc and alt-doc applications are not available.

If your income has changed, we need to explain why and check which figure AMP will use. Forecasts and income from a business you are still buying cannot replace established income. If you have traded for less than 2 years, our self-employed home loan guide covers other options.

Your borrowing amount depends on the income AMP accepts, household expenses, debts and the property. AMP checks repayments at 3% above the actual rate, with a minimum assessment rate of 6.5%, or uses the actual declared repayment if that is higher.

If you own an investment property with someone who is not applying with you, such as a sibling, AMP's common debt reducer may let it use your share of the rent and repayments. It uses the higher of your ownership share or an equal share based on the number of borrowers. The other borrower must show they can cover their share.

This does not apply in the same way to debt shared with your spouse or partner. A partner joining as a co-borrower takes on a different commitment and needs a separate assessment. We'll check the ownership, existing loan and supporting declaration before relying on a higher borrowing amount. Start with our mortgage repayment calculator, then have your actual figures compared.

AMP groups properties into 5 location zones. Check the actual address early: a large deposit does not remove every postcode restriction. The standard thresholds below can also be reduced by the product, apartment rules or loan purpose.

Loans above these thresholds need additional credit approval. The property and product rules still apply. Use its Security Property Location Guide alongside the property and product rules.

Interest-only repayments leave the principal outstanding. AMP then checks whether you can afford principal and interest repayments over the remaining term. We'll compare that later repayment before choosing a longer interest-only period. Our investment loan guide covers the wider costs of owning a rental property.

With the Professional Package, fixed loans allow up to $10k in extra repayments per 12-month period without penalty under the product terms. Variable loans offer more repayment flexibility. If you plan to keep savings against the loan, read how an offset account works before deciding whether the package fee is worthwhile.

Already with AMP? Your older product may have different features and fees. Check your current statement and ask for a pricing review before deciding whether to switch.

The amounts above come from AMP's Professional Package page, Master Limit feature guide and SuperEdge product summary. Your quote and contract confirm the fees. We compare the actual rate for your loan amount, deposit and purpose rather than relying on a headline rate.

Essential fees are listed in AMP's product summary. The standard discharge amount comes from AMP's discharge FAQ, checked on 9 September 2026.

With Master Limit, you may be able to change the limits on individual loan accounts without AMP assessing your finances again, as long as you stay within the approved total. You can have up to 10 accounts, with a line of credit as the main account. The arrangement can last up to 10 years and is usually limited to 80% of the property value.

For example, you could start with a $500k total limit split into 2 accounts of $250k each. You could then ask AMP to change those limits to $100k and $400k, keeping the same $500k total. You still need to request the change. If you sell or replace a property used to secure the loan, or change the total limit, AMP must assess the loan again and fees may apply.

Master Limit is not available on SuperEdge, Essential or Land Loans, or with the excluded construction and Equity Flex products. Moving money between splits does not decide whether interest is tax deductible. Have your accountant check how the funds are used and recorded.

AMP generally requires at least 45 square metres of internal living area, excluding balconies and car spaces. It may consider 40 square metres for a good-quality property in a desirable, high-demand capital-city location. Studios and bedsitters are not accepted, regardless of size.

In a high-density location, developments with more than 10 units have extra restrictions: generally no more than 2 apartments per borrower, with an overall lending concentration limit of 25% of the development and no more than 10 units. Established apartments over 6 months old may reach 95% on principal and interest or 90% interest-only, including LMI. Other high-density apartments are generally capped at 90%. Other product limits still apply.

AMP can finance up to 2 dwellings at a time, but it excludes strata-titled construction, owner-builders, labour-only contracts, modular or relocatable homes and Zone 5 construction. You need an acceptable fixed-price contract and the build must finish within 12 months of loan approval.

The land for a construction loan cannot be larger than 2.02 hectares. Do not confuse that with AMP's separate allowance for some established, non-income-producing rural residential properties up to 40 hectares. The advertised construction LVR can reach 90%, but whether LMI is added or included depends on the purpose and repayment terms. We'll check the contract, postcode and required contribution before you rely on that figure.

Our construction finance guide explains progress payments and the documents to prepare. AMP can require extra checks for a non-standard contract, so these are not the only possible inspection costs.

Vacant residential land must be no larger than 2.02 hectares, have all-weather road access and connected electricity, and stand alone as security. It cannot be cross-secured with another property. Maximum LVR is 90% principal and interest or 80% interest-only. The standard land-loan limits are $600k in Zones 1 to 2, $400k in Zone 3 and $200k in Zone 4.

Acreage with an existing home has different rules. Some residential or rural-residential properties up to 40 hectares may qualify, but income-producing rural properties are not accepted under that residential policy.

AMP's bridging option is for existing customers whose mortgage has been with AMP for more than 6 months and has been kept up to date. If your current home is not unconditionally sold, AMP generally needs you to afford the temporary peak debt. Where the sale is unconditional, it may assess the debt left afterwards, subject to the deposit and settlement requirements. Zone 5 properties are excluded. Compare bridging loan options before committing to the next purchase.

The 90% cash-out limit excludes LMI on principal and interest terms but includes LMI on interest-only terms. The property, product and purpose may impose a lower limit. Borrowing extra increases your debt and the repayments you need to cover.

Business-purpose borrowing under this home-loan policy is limited to 10% of your total borrowing with AMP, up to $100k. It can cover an established business purchase without relying on that business's future income, or an eligible business-loan refinance where you have owned the business for at least 2 financial years. This is separate from AMP's specialist business-finance range.

Business-purpose borrowing under this policy is on principal and interest terms, with a maximum base LVR of 90% and applicable LMI limits.

If you were planning to borrow through your SMSF to buy a residential property, the rules have changed. From 10 August 2026, new limited recourse borrowing arrangements generally cannot be used to acquire residential real estate. A limited recourse borrowing arrangement, or LRBA, is the borrowing structure used for these SMSF property loans.

These rules come from Schedule 5 of the Treasury Laws Amendment (Tax Reform No. 1) Act 2026. The ATO's SMSF guidance is another reference for trustees. Your SMSF adviser and solicitor should confirm whether an existing arrangement or contract qualifies.

AMP's current policy describes SuperEdge for dollar-for-dollar refinancing of an existing complying residential LRBA. First confirm that the existing arrangement qualifies under the law, then check the lender's requirements. AMP does not offer commercial or rural SMSF security under this product.

The fund needs enough income to cover the repayments and running costs. Have your SMSF adviser and solicitor check the arrangement, trustee responsibilities and guarantees before changing the loan.

AMP may consider discharged bankruptcy after at least 2 years. For Part IX or Part X agreements, it generally needs at least 2 years since the debt was fully paid. These applications are capped at 80% LVR and must meet the remaining credit rules. Tell us about an issue early so we can check the dates and evidence before you add another credit enquiry.

These are the AMP Broker Hub processing times checked on 8 September 2026. They change with workload. Valuation, legal work, conditions and settlement happen separately. We'll check the current queue against your contract deadline. Our pre-approval guide explains what is still outstanding after an initial decision.

Contact AMP's financial hardship team early. Depending on your circumstances, support may include a temporary repayment change, deferral or a longer term. AMP will assess your circumstances and explain what help is available, for how long and what it will cost.

Read our NAB review, Westpac review and CommBank review for professional LMI waivers and different ways to use your income. Our refinancing guide explains how to compare savings after costs.

Hunter Galloway is independently owned and is not owned by AMP. We compare more than 30 lenders and must put your interests first. Lender commissions are disclosed before you proceed. Read how we review lenders for our approach.

Our Brisbane team can compare AMP with other lenders using your income, deposit and property details.