AMP Construction Loan

Take the first step towards building your own home with the AMP Construction Loan and enjoy a competitive variable rate and flexible repayment options.

The AMP Construction Loan is designed for builders, renovators or land owners looking for financing to undertake home construction.

If you are looking for a cost-effective way to buy land that you intend to build on in the next 12 months, or if you are looking to finance a home renovation, the AMP Construction Loan could be a good loan to add to your comparison.

Interest Rate Max Insured LVR Max LVR
Investor (IO)
6.64% p.a.
Comparison Rate
6.30% p.a.
80% 80%
Owner Occupier (IO)
5.95% p.a.
Comparison Rate
5.27% p.a.
80% 80%
Product NameAMP Construction Loan
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$40,000
Maximum Loan Amount$850,000
Maximum LVR80%
Maximum Insured LVR90%
Mortgage Offset AccountNo
Loan Redraw FacilityYes
Split Loan FacilityNo
Loan PortableNo
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypeInterest Only
Application Fee$350
Lender's Legal Fee$0
Valuation Fee$220-$440
Ongoing Fees$10 monthly ($120 p.a.)
Settlement Fee$349
Discharge Fee$100


  • Borrow up to 90% (with LMI)
  • Unlimited fee-free extra repayments
  • Fee-free redraw facilities


  • Establishment fee of $350
  • Settlement fee of $349
  • Ongoing fee of $10 per month

Things to consider about the AMP Construction Loan.

This loan is designed to finance new constructions on land you own or to help you buy land for building. This loan allows you to make progress payments at different stages of the building process, which can help you save interest, as you’re only charged interest on the amounts you’ve withdrawn.

You can also apply for this loan as a low doc loan or in the name of a company or a trust.

Features of the AMP Construction Loan

  • Loan amount. You can borrow between $40,000and $850,000 at 90% LVR with this loan.
  • Loan purpose. This loan can only be used for the purpose of purchasing land to build on straight away, build on previously purchased land, renovate your current home or consolidate your debts whilst you plan your build.
  • Additional repayments. You can make additional repayments on your loan at any time and you won’t attract any penalty.
  • Access to funds. You can draw on the loan amount in instalments as you progress with the construction of your home.
  • Loan term. The AMP Construction Loan covers construction for a maximum period of 12 months, helping you achieve your dream of building your own home. If you plan to build over a longer period than 12 months the AMP Land Loan may be a better option to consider.
  • Interest-only options. You can make interest-only payments for up to two years with this loan, meaning you can maximise your cash flow during the expensive building phase.


Fees you can avoid:

  • Switch fee: . This fee is charged whenever you convert your loan to another product or interest type. Avoid this by keeping your loan details the same.
  • Multiple security fee. This is payable for each extra security asset offered once the loan is established.
  • Guarantor administration fee. This fee can be avoided by not having a guarantor on the Construction Loan. The fee goes into covering the additional documentation on the loan when a guarantor is involved.

Fees you can’t avoid:

  • Establishment fee: $350. This fee is non-refundable and goes towards setting up your AMP Construction Loan.
  • Settlement fee: $349. This fee is to cover the processing and administration costs as the loan is settled.
  • Progress payment fee. This fee is charged for every progress payment made on your Construction Loan.
  • Monthly fee: $10. This fee is charged for the ongoing maintenance of your loan and any affiliated accounts.

How to apply for the AMP Construction Loan

If you would like to apply for this home loan, please fill in the enquiry form on the right hand side of this page. By entering some of your details, a home loan specialist will get in touch with you to discuss your home loan needs and eligibility.

Please note that this does not appear on your credit file, and you can use this opportunity to find out more about this loan if you would like to apply.

What are the eligibility requirements if I do want to apply?

There are some eligibility requirements for this loan:

  • You must be an Australian citizen or have permanent residency in Australia
  • You must be at least 18 years of age

What documents would I be expected to provide?

Please note that the following documents and information will also be required with your loan application:

  • Your full name, current address and contact information
  • Your employer’s address and contact details

With the AMP Construction Loan, you can now make the dream of building a new home or renovating your existing one a reality. Compare similar loan products on our site and apply for one that suits you today.

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AMP Construction Loan

  • Interest Rate


  • Comparison Rate


  • App Fee / Annual Service Fee

    $350 / $10

  • Max LVR


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