NAB Portfolio Facility Line of Credit
With a NAB Portfolio Facility you can access the equity in your home with a flexible, full-featured loan
The NAB Portfolio Facility allows you to use the equity in your property to reduce your current debts or invest in other assets without the need to re-apply for credit.
Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206) and a Tier 1 Generic Knowledge certification (RG 146).
This line of credit facility allows you to access equity in your property for other purchases or investments. There's a single lending limit for home and investment loans, and you don't have to reapply unless you choose to increase your credit limit.
About this loan
What are the features and benefits of the NAB Portfolio Facility Line of Credit?
- Borrowing conditions. The NAB Portfolio Facility (LoC) allows you to borrow between $250,000 and $10,000,000. You will be able to borrow 80% of the value of the property without lenders mortgage insurance (LMI), and up to 80% with LMI.
- Sub-accounts. By using linked sub-accounts, you can organise your finances into borrowing, transactions and savings. You can have up to 12 sub-accounts with a choice between fixed or variable. At least one sub-account must have a variable rate.
- 24/7 access to your funds. You'll get 24-hour access to your funds through NAB Internet Banking, ATMs and phone banking.
- Joint borrowers. Each account holder can set up their own sub-account in their own name, making it easy to maintain records when it comes to tax time. Restrictions apply if you want to link a 100% offset account.
What fees and charges come with this loan?
- Application fees: $0. There are no application fees for the NAB Portfolio Facility.
- Monthly service fees: $0. Likewise, there are no monthly, ongoing fees for this facility.
- Annual package fee: $550. This annual fee covers the cost of maintaining your facility.
How to apply
If you'd like to find out more, please click on the Go to site button. You'll be taken to NAB's enquiry page. You can use this form to do the following:
- Organise an appointment to speak to a NAB home loan specialist
- Ask for a call back to discuss your home loan needs at a time that suits you
- Start the home loan or refinancing process with NAB
Information to have handy
To get started, you'll be asked to provide a few details:
- The type of loan you need
- When you need your loan
- The amount you'd like to borrow
- Personal and contact details
- Any other comments you'd like to add