Base Variable Rate Base Variable Rate (Principal & Interest) (Owner Occupied)

  • 4.10%
    p.a Basic Variable
  • 4.11%
    p.a Comparison**
  • $600
    Upfront fees
  • $0
    Annual fees
  • 95%
    Max Lvr
  • $1,867
    Per Month*

About National Australia Bank

National Australia Bank Group is a financial services organisation with over 12,700,000 customers and 42,000 people, operating more than 1,700 stores and business banking centres globally. NAB’s major financial services franchises in Australia are complemented by businesses in New Zealand, Asia, the United Kingdom and the United States. Each brand is uniquely positioned yet built on a common commitment to provide customers with quality products and services, fair fees and charges, and relationships built on the principles of help, guidance and advice.

Basic Variable

Repayments calculated to take into account ongoing monthly and anual fees.

Monthly repayment*
$1,867
rate per annum
4.10%

Loan to Value Ratio

Borrow up to the maxium of 95% of the value of the property.

Lenders Mortgage Insurance, or LMI, will be payable on most loans where the borrowings are greater than 80% of the value of the property.

However, you may be able to capitalise LMI into your loan, increasing the overall loan amount by about 2% (in order to cover the cost of the insurance). Contact a loan market broker to find out how LVR and LMI might impact the cost of your loan repayments.

Lvr
95%
Capitalise LMI
Yes

Availability

For ["Owner Occupied", "Vacant Land"], in ["NSW", "NT", "QLD", "SA", "WA", "VIC", "TAS", "ACT"].

Term
1 - 30 years
Min
$20,000
Max
$99,999,999

Eligibility

The level of financial documentaion and credit history required to apply for the loan.

Financials
Full Doc
Credit History
Conforming
Genuine Saving
Required

Redraw Facility

Get quick access to cash by drawing on the loan to pay for renovations or other purchases.

Redraw Facility
Yes
Min Redraw
$500.0
Redraw fee
$0

Banking Features

Given the wide range of loans on offer – with different interest rates, product features and fees – it pays to shop around to find the loan that fits your needs and circumstances. Some loans offer features that may be appropriate for your situation and result in savings over the life of the loan.

Some features you may wish to consider include:

  • an offset account;
  • ability to make extra repayments;
  • a redraw facility; and
  • linked credit card and savings accounts;
  • ability to split your loan between fixed and variable interest rates
Offset Account
No
Redraw Available
Yes
Credit Card
No
Internet Banking
Yes
Telephone Banking
Yes
BPay Option
No
Portability of Loan
Yes
Professional Pack
No
Check Account
No
Direct Salary Credit
Yes
Free Transactions
Yes
Minimum Redraw
Yes
Redraw Fee
No

Repayments

You can make your repaments Fortnightly, Monthly, and Weekly.

Interest Only Option
No
Max Interest Only
0 years

Upfront Fees

Upfront fess associated with estabilishing the loan. Other loan set-up fees, such as valuation fees and lender's mortgage insurance, and Government charges, such as registration fees and stamp duty on property transfer, have not been included. These will be determined after application.

Total
$600
Application
$600

Ongoing Fees

Monthly and annual fees and charges during the loan period.

Total
$0

Exit Fees

Fees associated with prematurely ending the loan.

Total
$350
Exit
$350
Early Repayment
$0
Switch To Fixed
$0

Notes

250k Velocity Points Offer New Owner Occupied or Investment Home loan of $250K or more -Have or apply (and are approved) for a NAB transaction account and NAB Credit Card -Must make a salary or equivalent income credit to the NAB Transaction account -Applications submitted by 31 December 2016 and drawn down on or before 31 March 2017. -For this offer, brokers must enter “NAB Velocity Points OO Offer" into the application notes. $1,500 Cash Back Offer -New Owner Occupied or Investment Home loan of $250K or more -Have or apply (and are approved) for a NAB transaction account and NAB Credit Card -New NAB Home loan repayments must be paid from the NAB transaction account -Applications submitted by 31 December 2016 and drawn down on or before 31 March 2017. -For this offer, brokers must enter "$1500 NAB Cash Back Offer" into the application notes. MAXIMUM AGGREGATE BORROWING FOR NAB WITH LMI REQUIRED $2.5M. WITHOUT LMI: 5M. NAB Base Variable Rate Home Loans offer a low rate and no ongoing monthly fees. Borrowers can also increase repayment frequency and amounts without paying additional fees (unless paid in full during first 4 years). Redraw available, minimum $500. Easily access extra cash if ahead of scheduled repayments. Repayment Holiday available, borrowers can take a break from repayments if ahead of scheduled repayments. 5 years interest only available (paid monthly in arrears) for investors and owner-occupiers. Not available for ‘Low Doc’ process. Not available with Choice Package. CASH OUT: No specific limitations on the maximum cash out amount permitted. Brokers must ensure the loan purpose meets acceptable home lending requirements. Documentary evidence is required for any of the following - Loan to Valuation ratio (LVR) exceeds 80%; Cash out / equity release is greater than $250,000. Where verification is required, documentary evidence must be provided and must verify at least 80% (decreased from 100%) of the loan amount. Documentary evidence can include (but is not limited to): Written professional advice, Quotes / Invoices, Sale Contracts Cash-out from 18 June 2016 - Loan to Value Ratio (LVR) exceeds 80%, or - Cash out is greater than (>) $250,000 - This criteria does not apply to Line Of Credit (Peak Performance) facilities. Foreign Applicant Policy from 18 June 2016 - Foreign Currency PAYG (Base) Income for Full Time / Part Time or Contract employees will be accepted. Note: Other Foreign currency income that is uncertain (eg: Overtime, Bonus, etc), rental and other income sources will not be accepted. - Applications will need to evidence some ‘existing AUD Income’ to be eligible for home lending application purposes. - Greater clarity will be provided on when Product / LVR Restrictions are to apply based on customer application scenarios. MAXIMUM AGGREGATE BORROWING FOR NAB WITH LMI REQUIRED $2.5M. WITHOUT LMI: 5M. NAB Base Variable Rate Home Loans offer a low rate and no ongoing monthly fees. Borrowers can also increase repayment frequency and amounts without paying additional fees (unless paid in full during first 4 years). Redraw available, minimum $500. Easily access extra cash if ahead of scheduled repayments. Repayment Holiday available, borrowers can take a break from repayments if ahead of scheduled repayments. 5 years interest only available (paid monthly in arrears) for investors and owner-occupiers. Not available for ‘Low Doc’ process. Not available with Choice Package. CASH OUT: No specific limitations on the maximum cash out amount permitted. Brokers must ensure the loan purpose meets acceptable home lending requirements. Documentary evidence is required for any of the following - Loan to Valuation ratio (LVR) exceeds 80%; Cash out / equity release is greater than $250,000. Where verification is required, documentary evidence must be provided and must verify at least 80% (decreased from 100%) of the loan amount. Documentary evidence can include (but is not limited to): Written professional advice, Quotes / Invoices, Sale Contracts Cash-out from 18 June 2016 - Loan to Value Ratio (LVR) exceeds 80%, or - Cash out is greater than (>) $250,000 - This criteria does not apply to Line Of Credit (Peak Performance) facilities. Foreign Applicant Policy from 18 June 2016 - Foreign Currency PAYG (Base) Income for Full Time / Part Time or Contract employees will be accepted. Note: Other Foreign currency income that is uncertain (eg: Overtime, Bonus, etc), rental and other income sources will not be accepted. - Applications will need to evidence some ‘existing AUD Income’ to be eligible for home lending application purposes. - Greater clarity will be provided on when Product / LVR Restrictions are to apply based on customer application scenarios.

LVR Notes

Max LVR is 95% including LMI capitalisation. LMI payable for LVR greater than 80%. Refinance and Debt Consolidation can be considered up to 95% LVR on a case by case basis.

Notes

No Genuine Savings under 90% LVR, where LVR is greater than 90% NAB will require 5% Genuine savings.

*Monthly Repayments

Monthly repayments are calculated to take into account the loan amount, repayment term and ongoing fees and charges over the life of the loan.

  • Variable rate loans show the monthly repayments at the current rate.
  • Fixed rate loans show the monthly repayment during the fixed period only.
  • Monthly repayment calculations are an approximate guide only. Speak to a LoanMarket Mortgage broker to understand the exact cost of a loan given your particular circumstances.

**Comparison Rates

A comparison rate is a tool to help consumers identify the true cost of a loan. It factors in the interest rate, loan amount, repayment term and ongoing fees and charges and displays this as a single percentage rate that can be used to compare various loans from different lenders.

Monthly Repayment and Comparison Rate* calculations do not include:

  • The use of account features such as early repayments and offset accounts which vary widely among loans and can reduce the cost of a loan significantly.
  • Cost savings such as fee waivers or special rate discounts.
  • Fees and charges associated with loan options or events that may or may not be used by the borrower, such as early repayment or redraw fees
  • Lenders Mortgage Insurance (LMI) which may be required to secure the loan and can increase the cost of the loan.
  • Government charges such as stamp duty or mortgage registration fees.
  • Fees and charges which aren’t available at the time the comparison rate is provided