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AMP new 10 year interest only loan! (Read 423 times)

Sophia Gold Member Offline Posts: 9727	AMP new 10 year interest only loan! May 5^th, 2025 at 10:52pm Oh yeah… I’m in! https://www.amp.com.au/about-amp/news/2025/may/AMP-Bank-launches-new-10-year-int...
Back to top	If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand. Milton Friedman IP Logged

Sir lastnail Gold Member Offline Australian Politics Posts: 30923 Gender:	Re: AMP new 10 year interest only loan! Reply #1 - May 5^th, 2025 at 11:37pm Albo will help you pay the deposit. You can't lose
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Bobby. Gold Member Offline Australian Politics Posts: 120462 Melbourne Gender:	Re: AMP new 10 year interest only loan! Reply #2 - May 5^th, 2025 at 11:43pm Sir lastnail wrote on May 5^th, 2025 at 11:37pm: Albo will help you pay the deposit. You can't lose What if you get retrenched?
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Sir lastnail Gold Member Offline Australian Politics Posts: 30923 Gender:	Re: AMP new 10 year interest only loan! Reply #3 - May 5^th, 2025 at 11:45pm Bobby. wrote on May 5^th, 2025 at 11:43pm: Sir lastnail wrote on May 5^th, 2025 at 11:37pm: Albo will help you pay the deposit. You can't lose What if you get retrenched? They give the house to someone else, and you end up on the street or in your car LOL
Back to top	« Last Edit: May 5^th, 2025 at 11:50pm by Sir lastnail » "If you take out Saddam, I guarantee you that it will have enormous positive reverberations on the region..." - Benjamin Netanyahu in 1995 IP Logged

Sophia

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Posts: 9727

Re: AMP new 10 year interest only loan!
Reply #4 - May 6^th, 2025 at 7:48am

Let’s look at the wood in the forest for a couple mins.

A person or couple, or friends could get say, $750 k loan.
For ten years @ say 5% interest only.
It does a couple positive things.
It gives you a house as opposed to paying rent, you pay interest on your house in your name.

They say a house doubles every 10 years, so therefore, a $750k house at the end of 10 years interest payment is then worth $$1.5 million

That’s a $750k tax free profit (because you’re living in the house)

It’s better than renting, which is hard to find and competition is fierce, and you have a nice pot of gold waiting for you at end of 10 years.

Then you can decide what to do at the time.

If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand.

Milton Friedman

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