Helping you with ApplyOnline ® , online mortgage application tool.
Based on your feedback, we’ve made changes to how we capture interest expense for negative gearing in the Serviceability calculator, particularly how calculation of interest expense benefits were treated and calculated.
We’re pleased to advise these discrepancies will be resolved between 25 - 27 March 2024.
What has changed:
There will be no validation error in the Security, Financials & Loan Details tabs when the primary purpose is set to “Owner Occupied” and “Yes” is selected.
A new “Ownership” field will be introduced in the Financial Position & Loan Details tabs. Its function will be similar to the existing “Ownership” field in the Security tab for mortgages, allowing for differentiation between loan ownership and asset ownership.
The Security Tab will now allow capturing rental income even when the property’s primary purpose is “Owner Occupied.
Benefits for you and your customers?
This means the following can now be captured and calculated correctly in ApplyOnline ® :
We use the NextGen.Net ® ApplyOnline ® electronic lodgement solution for online mortgage application submission. This provides upfront serviceability and applications for new loans and increases with:
Refer to the User guides and video tutorials for assistance with how to use the AMP Bank ApplyOnline ® system.
Copies of user guides are also available (in the Forms & Documents tab under User guides) in the ApplyOnine ® tool.
I would like to know:
Access Seeker Credit Report
Application Centre Loan Processing and Workflow
For any questions you have on AMP’s products and policies, the BDM assigned to your company is keen to take your call. If you’re unsure who your BDM is, head to our Contact us page.
All information on this website is subject to change without notice. It's important your customers consider their particular circumstances and read the relevant Product Disclosure Statement and Target Market Determination or Terms and Conditions before deciding what's right for them.
A target market determination for these products is available at distributor.amp.com.au/tmd
This information hasn't taken their circumstances into account. The credit provider and product issuer is AMP Bank Limited ABN 15 081 596 009, AFSL No 234517, Australian credit licence 234517.
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