21 October, 2021
As you would be aware, there are pending changes to the current Affordability Rate. Below are updates version(s) of NABs serviceability calculator to incorporate the change:
What has changed:
- Version 48a
- Interest rate buffer of 2.5% (current);
- Updated version with a warning message that this version is to be used for applications submitted and approved prior to 11:59pm 31 October 2021.
- Version 49
- Interest rate buffer of 3.0% (updated);
- To be used for applications to be processed and approved post 11:59pm 31st October 2021.
15 October 2021
The Broker Brief
$2,000 Refinance Cash Bonus extended
We’re pleased to announce that the $2,000 Refinance Cash Bonus offer has been extended until further notice, giving your customers more time to switch to NAB as their home lender. Eligible... read more
NAB First Home Loan Deposit Scheme waitlist closed from Friday 15 October 2021
Due to the significant interest in First Home Loan Deposit Scheme (FHLDS) places, NAB will not accept any new requests to add customers to our waitlist from Friday 15 October 2021... read more
Supporting docs tab changes in ApplyOnline – statements and pricing approvals
We want to make the lodgement and approval process as fast and intuitive as possible for you and your customers. To do this, we’ll be updating ApplyOnline to provide clearer guidance... read more
Updating the New Application COVID-19 Commentary Form
Last year, to ensure NAB continued to lend responsibly during the COVID-19 pandemic, we asked you to make further inquiries about the impact COVID-19 was having on applicants’... read more
Improved customer experience
NAB is continuing to make banking simpler for your customers by launching a simpler, personalised offering for your high-value customers: a dedicated, remote, end-to-end service... read more
21 September, 2021
The Broker Brief
Personal Consent Form to incorporate FHLDS Acknowledgement and Consent Form
To make things simple and easier for you, from Wednesday 22 September, the customer consents received via the First Home Loan Deposit Scheme (FHLDS) Acknowledgement and... read more
Valuation request fields mandated
To make valuations simpler and the experience for you and your customers smoother, we’re making minor changes to the valuation ordering screen to mandate answers to existing questions... read more
COVID-19 government payments and servicing NAB home loans
With COVID-19 continuing to impact our customers, we’d like to confirm our approach to the NSW Government’s JobSaver and the Australian Government’s COVID-19 Disaster Payment... read more
Reminder - Settlement funds will be held two days before settlement
To make sure we get settlements right for your customers, we introduced a new process to hold shortfall funds two business days prior to settlement. This means customers can only access funds... read more
14 September, 2021
NAB Choice Package & Tailored Fixed Interest Rate changes for Owner Occupiers – Principal & Interest.
Effective Wednesday 15th September 2021 NAB will increase the NAB Choice Package home loan 3, 4 & 5 year fixed interest rates for Owner Occupiers paying Principal & Interest
Advertised Fixed Rates for NAB Choice Package – Owner Occupiers - Principal & Interest
Advertised Fixed Rates for NAB Tailored – Owner Occupiers - Principal & Interest
For more information on comparison rates, please refer to our ‘Important information’ section below.
These rates are effective from Wednesday 15th September 2021 and apply to:
- New NAB Choice Package & Tailored home loans; and
- Existing NAB Choice Package & Tailored home loans where a customer applies to switch from a variable to a fixed rate or re-fix their loan on or after this date.
The rates are subject to change at any time without notice.
There are no changes to NAB variable rates.
Talk to your BDM today to discuss current NAB pricing.
New customers or drawdowns
The actual rate that will apply will be the effective fixed rate as at the day of drawdown, unless the customer takes out Rate Lock and that interest rate is lower than the advertised fixed rate at drawdown (including any approved pricing discounts). This means that applications submitted prior to Wednesday 15th September 2021 that are drawn down on or after this date will receive the new rate.
Existing customers & changes to home loans
Customers who make a request to switch from a variable to a fixed rate, or to re-fix their rate before Wednesday 15th September 2021 will receive the rate that applied at the time we receive the Request To Change form. For clarity, any applications switching from a variable to a fixed rate or re-fix a rate on or after Wednesday 15th September 2021 will receive the new fixed rates.
The above fixed rate changes do not impact existing fixed rate loans
7 September, 2021
NAB Broker Rate Specials
We know how important low rates are for our customers. That’s why we want to remind you about our Choice Package fixed Advertised Rates available for all NAB customers and our fixed Special Rates for new NAB customers with an aggregate Loan to Value Ratio (LVR)1 under 70%.
You can access these Special Rates via NAB’s Instant Pricing Tool in the NAB Broker Portal.
Rates are subject to change. Rate Lock is available on application for all new NAB Fixed Rate loans. See ‘Important Information’ below.
The Special Rates are available for new NAB customers only, while advertised rates can be accessed by all customers on NAB’s Choice Package.
More fixed and variable rates are available on NAB’s website and the Products tab in the NAB Broker Portal.
Remember that for new loans you must attach the pricing approval to the application in ApplyOnline.
10 August, 2021
The Broker Brief - What you need to know
Three important steps for First Home Loan Deposit Scheme applications
Thousands of Australians have been able to buy their first home with the help of the First Home Deposit Scheme (FHLDS or Scheme) at NAB. So you can continue to provide these customers... read more
Reminder - Personal Consent Form in ApplyOnline
Using a Personal Consent Form (PCF) generated from within ApplyOnline is now mandatory. This ensures the details on the PCF match the information provided in ApplyOnline and... read more