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Review by


Richard Whitten is an editor at Finder, and has been covering home loans and the property market in Australia for the last 4 years. He has written for Yahoo Finance, Money Magazine and Homely, as well as multiple banks and lenders. Richard has a Certificate IV in Finance and Mortgage Broking, a Bachelor of Education from the University of Sydney and a Graduate Certificate in Communication. He enjoys helping people understand the ins and outs of mortgages so they can make smarter property decisions. Richard trained as a high school teacher but found it easier to manage personal finances than a classroom full of kids. Before joining Finder, he edited textbooks and taught English in South Korea.

Expert review

This loan is available for owner-occupiers, investors and refinancers. It's a flexible variable rate loan with minimal fees that allows borrowers to make extra repayments. The loan also has a redraw facility.

About this loan

What are the features and benefits of the NAB Base Variable Rate Home Loan?

  • Redraw facility. You can redraw on your home loan for free if you're ahead of your scheduled repayments. The minimum redraw amount is $500.
  • Maximum loan size. You can borrow up to 95% of the property's value, which can help those who are unable to save for a large deposit. If you're an investor or opting for interest only payments, the maximum limit is 90%.
  • Loan portability. If you sell the home before paying out the loan, you can buy a new home and still maintain the same home loan. This saves you the cost and hassle of setting up a new home loan.

What fees and charges come with this loan?

  • Discharge fee: $350. This fee is payable when you pay out your loan.

How to apply

If you believe the NAB Base Variable Rate Home Loan could be right for you click on the green button. This will redirect you to the NAB website where you can discuss your borrowing needs with a lending specialist.

Home Loan Offers

Important Information*

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17 Comments

  1. Default Gravatar
    Diane
    January 6, 2019

    Is it only 5% deposit on loans

    • Avatarfinder Customer Care
      John
      January 7, 2019

      Hi Diane,

      Thank you for reaching out to finder.

      Yes, you can borrow up to 95% of the property’s value with this product. In other words, this loan is available with a 5% deposit, however, a larger deposit is fine too. Is there anything else that I could assist you with? Hope this helps!

      Cheers,
      Reggie

  2. Default Gravatar
    Belen
    November 6, 2018

    hi my husband has own property before long time ago for his previous marriage , and we going to buy a house for living .and I am a first home buyer. the application is my name and the tittle .I’m qualified for apply a First home buyer.

    Thanks,

    • Avatarfinder Customer Care
      John
      November 8, 2018

      Hi Belen,

      Thank you for reaching out to finder.

      Yes you are qualified to take out a first home buyer loan. You may want to click on this link to see a panel of lenders that you could compare and choose from. Hope this helps!

      Cheers,
      Reggie

  3. Default Gravatar
    Amanda
    August 15, 2018

    Is this offer eligible for new customer discount

    • Avatarfinder Customer Care
      John
      August 16, 2018

      Hi Amanda,

      Thank you for leaving a question.

      Here is an excerpt from our page regarding NAB Home loans.
      “NAB is offering a 1.42% p.a. discount off the current advertised indicator rate on its Base Variable Rate principal and interest loan for new owner-occupier customers borrowing $20,000 or more. This is a limited time offer. Other conditions may apply.”
      You may want to check this out as this is a limited time offer.

      Cheers,
      Reggie

  4. Default Gravatar
    Sam
    April 30, 2018

    Thanks Jeni

  5. Default Gravatar
    Sam
    April 29, 2018

    Hi,
    I want to buy my first home in Victoria. I have been a NAB Customer for two years now. I have a PR and been working in the same job for 1 yr and 9 mos.

    I have a running car loan of 750 p.w. Would I be eligible for a 95% LVR to buy my first home?

    Thanks.

    • Avatarfinder Customer Care
      Jeni
      April 29, 2018

      Hi Sam,

      Thank you for getting in touch with Finder.

      You can borrow up to 95% of the property value with many NAB mortgages including the NAB Base Variable Rate Home Loan above. You can go to our list of NAB mortgages if you’d like to compare this loan to other NAB home loan offers. You can use our comparison table to see a side-by-side comparison.

      Once you have chosen a particular loan product, you may then head to NAB’s official website to discuss your eligibility and proceed with the application. While each NAB product has specific eligibility criteria, some will apply to all products:

      • You must be over 18 years of age.
      • You should be a resident of Australia.
      • You should have a regular source of income.

      So before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you.

      If you would like to check other providers, see our comparison table with a list of home loans with 95% LVRs.

      I hope this helps.

      Have a great day!

      Cheers,
      Jeni

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