In this paper, some aspects of external interphase cracks deformation in piezomagnetic materials are investigated. Nowadays functional elements based on the use of piezomagnets have important practical applications in various fields of engineering, automation and computer technology. Under deformation, these materials produce a magnetic field that is proportional to the deformation. Moreover, when such materials are placed under a magnetic field, they start to show deformation. In other words, piezoelectric and piezomagnetic materials are widely used. The latter have many similar properties with piezoelectric materials. During manufacturing and operation, cracks occur at the interface between different composnents. Hence, external interfacial cracks are particularly dangerous. Currently, there has been very little research done for the interface cracks between heterogeneous components in piezomagnetic materials. In this paper, we investigate how a mechanical load applied to the external intefcace crack affects a piezomagnetic bimaterial. Expressions for stress-strain states are obtained by means of piecewise holomorphic vector functions which are convenient for formulating linear conjugation problems for external interfase cracks in such piezomagnetic materials. In this paper, we consider the case of the oscillation model, which leads to a physically impossible interpenetration of the crack edges in the vicinity of its tips. Effects of mechanical loading on the main magneto-mechanical characteristics in the vicinity of the outer interfacial crack tip are also demonstrated. In particular, the obtained results clearly demonstrate that mechanical stress causes a sufficiently significant magnetic induction. Furthermore, both stress and magnetic induction have an oscillating behavior in the vicinity of the crack tip.