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Review by

Marc Terrano is a lead publisher and growth marketer at Finder. He has previously worked at Finder as a publisher for frequent flyer points and home loans, and as a writer, podcast host and content marketer. Marc has a Bachelor of Communications (Journalism) from the University of Technology Sydney. He’s passionate about creating honest and simple reviews and comparisons to help everyone get value for money.

Expert review

This loan is only available as a full documentation loan and is suitable for first home buyers, owner-occupiers and investors.

You can borrow up to 95% of the property value. However, lenders mortgage insurance (LMI) applies if you borrow more than 80% of the property value.

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.
  • Flexible repayment options. Repayments can be made weekly, monthly or fortnightly to suit how often you get paid, and you can make extra repayments without penalty.

What fees and charges come with this loan?

  • Application fee: $0. This is the fee used to cover the costs of setting up your loan account.
  • Discharge fee: $350. This fee is payable when you pay out your loan.
  • Service fee: $0. There is a monthly fee for owner-occupiers on interest-only payments and for investors on either principal and interest or interest-only payments.

How to apply

If you believe the NAB Base Variable Rate Home Loan could be right for you click on the green 'Enquire now' or 'Go to site' button. This will redirect you to the NAB website or to a mortgage broker page where you can discuss your borrowing needs.

On the NAB website you can enquire about this loan or use the live chat feature to talk to someone directly. You could also arrange an appointment with a NAB home loan specialist and they'll visit you or you can drop into your local branch.

Required documentation

After you've lodged your home loan application, NAB will contact you to discuss your application. You'll need to provide a number of original and certified copies of documents, such as:

  • Personal ID. You'll need to provide your birth certificate, passport, driver's license and a current photo ID card.
  • Income details. To support your application, you'll need to offer evidence of your income, such as your two most recent payslips and your latest tax return (for PAYG employees). If you're self-employed, you'll need to put forward your two most recent financial statements.
  • Property details. NAB will request a fully-executed contract of sale (signed and dated by both the vendor and purchaser), the transfer of land document (if held) and the construction loan.
  • Asset and liability details. You'll need to supply your most recent non-NAB transaction account statements, credit card statements, details of personal/home/vehicle insurance, superannuation details, and current vehicle registrations.

Home Loan Offers

Important Information*

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    Default Gravatar
    January 6, 2019

    Is it only 5% deposit on loans

      Avatarfinder Customer Care
      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!


    Default Gravatar
    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.


      Avatarfinder Customer Care
      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!


    Default Gravatar
    August 15, 2018

    Is this offer eligible for new customer discount

      Avatarfinder Customer Care
      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.


    Default Gravatar
    April 30, 2018

    Thanks Jeni

    Default Gravatar
    April 29, 2018

    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?


      Avatarfinder Customer Care
      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!


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