Finance Details


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TitleDetails
Lender NameNAB
Loan nameBase Variable Rate (Interest Only) (Investment)
Initial %5.18%
Ongoing %4.65%
Max Term Fixed Rate0
Max Term Interest Only5
Interest Type (Initial)Basic Variable
Interest Type (Ongoing)Basic Variable
Repayment FrequencyFortnightly,Monthly,Weekly
Repayment Type (Initial)Interest only
Repayment Type (After Initial)Principal and Interest
Additional Loan Splits Allowed6
FinancialsFull Doc
Non ConformingNo
Product Type: CommercialNo
Product Type: Owner OccupiedNo
Product Type: InvestmentYes
Product Type: EquityNo
Product Type: ConstructionNo
Product Type: Vacant LandYes
Product Type: Line of CreditNo
Product Type: ReverseNo
Product Type: BridgingNo
Notes$350,000 NAB Rewards Points offer. To be eligible, customers must: - Apply for a new NAB Home Loan of $250,000 or more by 31 August 2017, be approved, and drawdown by 30 November 2017; and - At home loan drawdown, and at the time the NAB Rewards Points are credited, one home loan applicant must be a primary cardholder of any NAB Rewards Credit Card; and - At home loan drawdown, the primary (first named) home loan applicant must hold a personal NAB Transaction Account - Joint applicants: This offer is limited to a maximum of 350,000 NAB Rewards Points per customer and per Home Loan application. This means, if there is more than one applicant and one applicant receives the 350,000 NAB Rewards Points, all applicants are deemed to have received the Rewards Points. If you’re a joint home loan applicant, the NAB Rewards Points will be issued to the primary cardholder or, where there are multiple primary cardholders, the Rewards Points will be awarded to the primary (first named) home loan applicant within 90 days of home loan drawdown. 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.
ERP Notes
BC Notes
OF Notes
Other Fee Notes
Max LVR90.00%
Capitalise LMIYes
LVR NotesMaximum 90% for Investment Loans. LMI payable over 80%. LVR must not exceed 90% when LMI is capitalized.
Genuine SavingsNo
Genuine Savings Notes
Min Loan$20,000.00
Max Loan$99,999,999.00
Min Term1
Max Term30
Est Fee$0.00
App Fee$600.00
Val Fee$0.00
Legal Fee$0.00
S/m Fee$0.00
Upfront Fee$600.00
Ongoing Monthly Fee$0.00
Ongoing Annual Fee$0.00
Exit Fee$350.00
Fixed Fee$0.00
Other Fee$0.00
Internet BankingYes
Credit CardNo
BPay OptionNo
Professional PackNo
Cheque AccountNo
Intro RateNo
Telephone BankingYes
Direct Salary CreditYes
Portability of LoanYes
Redraw AvailableYes
Offset AccountNo
Min Redraw$500.00
Free Transactions per Month9999
Loan Redraw Fee$0.00
Lender Category Big Bank