National Flexi Plus National Flexi Plus LVR >80%

  • 5.69%
    p.a Standard Variable
  • 5.80%
    p.a Comparison**
  • $600
    Upfront fees
  • $250
    Annual fees
  • 90%
    Max Lvr
  • $2,210
    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.

Standard Variable

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

Monthly repayment*
$2,210
rate per annum
5.69%

Loan to Value Ratio

Borrow up to the maxium of 90% 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
90%
Capitalise LMI
Yes

Availability

For ["Line of Credit", "Bridging", "Investment", "Owner Occupied", "Vacant Land"], in ["NSW", "NT", "QLD", "SA", "WA", "VIC", "TAS", "ACT"].

Term
1 - 30 years
Min
$20,000
Max
$2,500,000

Eligibility

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

Financials
Full Doc
Credit History
Conforming
Genuine Saving
Not Required

Redraw Facility

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

Redraw Facility
No
Min Redraw
$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
No
Credit Card
Yes
Internet Banking
Yes
Telephone Banking
Yes
BPay Option
Yes
Portability of Loan
Yes
Professional Pack
No
Check Account
Yes
Direct Salary Credit
Yes
Free Transactions
Yes
Minimum Redraw
No
Redraw Fee
No

Repayments

You can make your repaments Monthly.

Interest Only Option
Yes
Max Interest Only
30 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
$250
Ongoing Yearly
$250

Exit Fees

Fees associated with prematurely ending the loan.

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

Notes

MAXIMUM AGGREGATE BORROWING FOR NAB WITH LMI REQUIRED $2.5M. WITHOUT LMI: $5M. A flexible line of credit for home or investment purposes that borrowers can access any time. With a NAB Choice FlexiPlus Mortgage Facility, borrowers open a NAB transaction account and the FlexiPlus Mortgage is a credit limit (an approved loan limit) attached to it. Borrowers can have all their income paid directly into the transaction account and use the credit limit as much or as little as they choose. Unlimited deposits/repayments. Withdrawals any time, for any amount, up to facility limit. If the line of credit facility is attached to more than one account, borrowers can only withdraw up to the account limit on each account. No principal repayments required unless facility/account limits are reached (or facility cancelled). Interest is charged monthly to the nominated account. Only pay interest on what used. Can deposit salary and other earnings into the account to help save interest. Make repayments as and when you want. (Borrowers need to ensure they have covered any interest charges.) NAB FlexiPlus Mortgage Facility will not be available to applicants who reside overseas (regardless of citizenship) and/or for applicants who require Foreign Investment Review Board (FIRB) approval to purchase residential property purchase in Australia.

LVR Notes

Max LVR 90% including LMI capitalisation. Max LVR 80% without LMI.

*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