Buying property

Start with a home loan that matches your needs

What kind of property buyer are you?

Whether you’re new to the property market or you already own a home or investment property, you’ll find tools and insights here to make better choices on your home or property purchase and finding a suitable home loan.

A little knowledge goes a long way

So you’re ready to take the plunge. You've done your homework, saved for a deposit or calculated the equity in your current home, and have researched the locations and homes that look like good value. What’s next?

Get to know what kind of home loans are in the market today and take the time to match the loan to your financial comfort level, as well as the property you want to buy. This is often a big step, so it’s important to be ready for it.

Find out more about your options when it comes to buying property.

The buying process

No matter what stage you’re at in the buying process—from planning to buy your first home to buying an investment property, here are a few tips to help you get it right.

  • Make regular savings contributions for your deposit.
  • Find out if you’re eligible for a First Home Buyers Grant, Stamp Duty concession or other incentive in your state.
  • Get an understanding of how much you can borrow.
  • Search for properties in your preferred area and check local sales histories.
  • Work with real estate agents in your neighbourhoods of choice.
  • Inspect a number of homes to compare features and value.

Make your home loan work for you

Get to know how to use your home loan to your advantage with important features that add flexibility and can help you pay off your home sooner. Loans can have features like:

  • redraw facility—where your home loan performs like a transaction account, so you can redraw funds when you make extra repayments and whatever extra you pay helps reduce interest
  • interest only repayments—while payments are calculated on principal (the amount borrowed) and interest, you can use an option to pay interest only for a set time period to help through financial difficulties
  • offset account—where a savings or transaction account is linked to your loan, so your account balance ‘offsets’ the amount you owe on your loan, effectively reducing the interest you pay. See AMP Bank’s Offset Deposit Account
  • extra repayments—most variable rate loans allow any amount or frequent extra repayments, whereas fixed rate loans either exclude or limit extra repayments.

How much insurance cover you need for your home or investment property depends on your specific circumstances.

You should consider your own personal protection to make sure your family is looked after if something was to ever happen.

You can also speak to a financial adviser to work out your optimal level of cover and to get a quote.

Want to speak to a financial adviser?

Manage your money with our mobile apps

Find out more

What are some things to look out for when buying a house?

Find out how financial advice could help you

Learn more

Important information

Show more

It’s important to consider your particular circumstances and read the relevant Product Disclosure Statement or Terms and Conditions before deciding what’s right for you. This information hasn’t taken your circumstances into account.

This information is provided by AMP Bank Limited. Read our Financial Services Guide for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relation to products and services provided to you. All information on this website is subject to change without notice.

The credit provider and product issuer is AMP Bank Limited 15 081 596 009, AFSL and Australian Credit Licence 234517.