AMP allows SMSF loans to be submitted via Apply Online. The structure for SMSF loans differs quite a bit from standard loan applications. The instructions below explain how these loans should be structured.
Key SMSF fields
In the Applicants tab, you will see an Applicant Type and Applicant Role. For an SMSF loan, there is an extra field in the Applicant Type list called SMSF, these fields need to be set up correctly in order for the application to validate.
Note: It does not matter which order the following applicants appear in Apply Online.
Note: Regardless of which roles your applicants are given when they transfer over from Mercury, they should be changed in Apply Online to fit the below structure.
Company as a Trustee
For a loan that has the company as a trustee, the following applicant structure should be used in Apply Online:
Individual as a Trustee
For a loan that has an individual as a trustee, the following applicant structure should be used in Apply Online:
Apply Online Applicant Screenshots (company as a trustee)
Disney Trust: SMSF - Primary Applicant
Disneyland Fireworks Pty Ltd: Company - Trustee/SMSF Member
Donald Duck Pty Ltd: Company - Security Custodian
Mickey Mouse: Person - Trustee/SMSF Member
Minnie Mouse: Person - Trustee/SMSF Member
You can also contact your AMP BDM, or email: applyonline_training@amp.com.au for more assistance.
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