Details to consider about the NAB Tailored Home Loan - Variable Rate
This loan is available to both owner-occupiers and investors, and can be used for purchase, refinance and construction. It has a high maximum loan-to-value ratio (LVR) of 95%.
Features of the NAB Tailored Home Loan - Variable Rate
The NAB Tailored Home Loan - Variable Rate offers a variety of features that allow you to further save money, including:
Flexible repayments. The NAB Tailored Home Loan - Variable Rate allows you to choose how you pay the loan off. You can choose between weekly, fortnightly and monthly repayments, though if you choose to make interest-only repayments, they must be made monthly. This allows you to tailor the repayments to suit how your income is paid to you. You can also make additional repayments without penalty.
Loan-to-value ratio (LVR). The NAB Tailored Home Loan - Variable Rate allows you to borrow up to 95% of the value of the property. Be aware, though, that borrowing more than 80% of the property's value will result in paying a lenders mortgage insurance (LMI) premium.
Redraw facility. If you make additional repayments you can access these funds at anytime with a minimum redraw amount of $500.
100% offset account. An offset account allows you to deposit your savings into a transaction account that offsets the amount on which interest is charged. This can save you money over the term of your loan.
Split facility. The NAB Tailored Home Loan - Variable Rate allows you to split the home loan into two separate portions and enjoy the features of both home loans.
Loan portability. If you have to move homes, the NAB Tailored Home Loan - Variable Rate allows you to take your loan with you. This can save you time and the costs associated with applying for a new home loan.
Application fee: $600. This fee is charged upfront and covers the cost associated with processing your application.
Monthly service fee: $8. This fee covers the administrative costs of your home loan account.
How can I apply for this loan?
Clicking the 'Go to Site' buttons on this page will securely take you to the NAB website from where you can lodge an enquiry for this loan. A lending expert from NAB will then contact you back to begin your application and discuss your options.
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