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Thread: National Australia Bank Low fixed rate home loans.

  1. #1
    Senior Member DealDude's Avatar
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    National Australia Bank Low fixed rate home loans.

    National Australia Bank are starting to drop their fixed rate home loans

    NAB drop their mortgage interest rate to the lowest in 20 years!

    Find out more about the NAB's home loans:
    NAB Tailored Home Loan - Fixed Interest Rate - NAB

    I can't find the low rate on their website, keen an eye out for it!

    NAB Tailored Home Loan - Fixed Interest Rate




    A home loan with the certainty of a fixed rate.

    The NAB Tailored Home Loan - Fixed Interest Rate offers a range of terms from one to ten years. At the end of the fixed rate period the loan converts to NAB's standard variable rate. You can make up to $20,000 in extra repayments without economic costs. Over $20,000 you may be charged economic costs.









    Apply for a home Loan
    Apply now





    Product overview

    Additional repayments1 Up to $20,000 during a fixed rate period without economic costs. Over $20,000 you may be charged economic costs1.
    Redraw
    (minimum $2000)2
    Access 'extra' cash at the end of the fixed rate period if you're ahead of scheduled repayments.
    Repayment holiday Take a break from repayments if you're ahead of scheduled repayments.
    Interest only
    payment option3
    Up to 5 years interest only (in arrears) for owner-occupiers and up to 10 years interest only (in advance or in arrears) for investors5.
    100% offset Not available.
    Maximum loan
    size as % of
    property value
    95% Borrow up to 95% of the property's value so you don't have to wait until you've saved a large deposit.
    Flexible repayment options Weekly, fortnightly or monthly. (Interest only in advance payable annually and interest only in arrears payable monthly.)
    Suitable for self-employed4 'Low Doc' process available if you don't have the usual financial statements required for an application.
    Can be used for
    building
    Not available for building.
    Split loans You can take out 2 different loans for the same property with just 1 application fee.
    Portability If you buy another home, you could keep the same loan and secure it against your new home.
    Available as part of
    Choice Package
    Combine all your banking needs into one convenient package for great discounts.
    Interest rates View current interest rates.
    Additional features
    • Rate Lock - You can lock in the fixed interest rate that is quoted at the time of loan approval for up to 3 months, giving you added certainty.


    1. If additional repayments are more than $20,000 or the loan is paid in full during the fixed rate period, economic costs may be payable.
    2. Redraw is available at the end of the fixed rate period (i.e. when the rate becomes variable.)
    3. For interest only loans, the fixed rate period cannot exceed the interest only period.
    4. 'Low Doc' not available for Interest Only loans.
    5. Before you choose an interest only period, take the time to consider these things:


    • Your debt doesn’t reduce while you only pay your interest charges because you’re not paying any of the principal.
    • You may owe more than your property is worth if its value decreases during an interest only period.
    • Your scheduled repayments will increase once your interest only period ends.

    Information current at 14/11/11, subject to change.
    Fees and charges are payable. Terms and conditions apply and are available on request from NAB.



  2. #2
    Gav
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    I wonder if they're they lowest fixed home loans in Australia? Any suggestions? Really need to get a good compare website for mortgages.

    Similar to: Compare best interest rates for instant access savings | Money | Saver Scene Australia
    DealDude likes this.

  3. #3
    Senior Member DealDude's Avatar
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    Media release from NAB:

    NAB encourages home loan customers to shop around in the most competitive mortgage market - NAB

    NAB encourages home loan customers to shop around in the most competitive mortgage market

    NAB encourages home loan customers to shop around in the most competitive mortgage market

    Tuesday, 4 February 2014

    National Australia Bank today encouraged home loan customers to shop around for the best deal to suit their needs after the Reserve Bank of Australia kept the official cash rate on hold at 2.50%.

    Gavin Slater, Group Executive Personal Banking, said the mortgage market had never been more competitive so customers are able to find a home loan that suits their needs with a great rate.

    “No other bank has done more to drive competition than NAB, and this has benefited all customers, not just NAB’s.” he said.

    “At NAB we recently cut our four-year fixed rate by 0.20% to 5.44%p.a. – the lowest it has been in more than 20 years – and we cut our three-year rate by 0.05% to 5.14%, and we’ve seen the proportion of customers opting for fixed rates increase over recent weeks.”

    For more than four years NAB home loan customers have benefited from the most competitive standard variable rate of all the major banks, currently at 5.88%p.a, saving customers up to $2350 in interest.

    “NAB has led the industry in making banking fairer for all customers, having abolished the most complained about fees and provided customers with the best products and the best service,” he said.

    “NAB’s home loan rates provide our customers with an opportunity to get further ahead on their mortgage repayments, or to become a home owner for the first time. So there’s never been a better time to have a home loan with NAB.

    “At NAB, we know people are returning to work at this time of year and turning their attention to personal finances, so we want to make it easier for them to get their household budgets in order with the best rates and the best service and advice to back it up.”

    Media


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