The NAB Flexiplus Mortgage Loan unlocks the equity you’ve built in your bricks and mortar and lets you access the funds on your own terms through a flexible line of credit.
The FlexiPlus Mortgage Loan links a transaction account to your home loan account and gives you access to a variable rate revolving line of credit you can spend if and when you need to.
A line of credit loan is similar to a credit card where you get access to a sum of pre-approved funds which you can use at your leisure and you only pay for what you use.
Your credit limit is applied to a NAB transaction account which makes accessing your funds quick and easy. The Flexiplus Mortgage Loan works a little differently to a standard home loan where you don’t have to make fixed repayments, you can choose to repay the loan on your terms as long as you’ve got the interest payment covered.
This loan allows you to pay off the loan faster by making additional repayments at any time.
Bundling the Flexiplus Mortgage Loan with the NAB Choice Package gives you the freedom to combine your transaction account, credit card and line of credit loan into one convenient banking facility. Borrowers who opt for the Choice Package will also have access to a discounted rate and additional discounts on home and car insurance.
If you’ve got equity in your home or investment property, this loan can help you unlock the value in your bricks and mortar and give you the funds to invest or renovate.
This loan has no redraw facility or 100 percent offset account which may be off-putting for some borrowers, however the flexible payment options and ability to use this loan for construction give it broad appeal.
If you’ve got a bit of equity in your home or investment property and you’re looking for ways to access it, the NAB Flexiplus Mortgage Loan may be worth a look.
While there is no 100 percent offset account or redraw facility, this loan gives you the flexibility to use your funds on your own terms. It’s worth noting that the interest rate is higher than a lot of other home loans, however, line of credit loans generally have higher rates in comparison to standard home loans.
Borrowers can combine this loan with a NAB Choice Package which can give you access to potential savings on transaction accounts, credit cards and other financial products like insurance. But be aware that taking out a package option does carry an annual ‘package fee’, so you’ll need to weigh up that cost.
Borrowers that find comfort in face-to-face banking are spoilt for choice as NAB has a huge branch network in addition to extended telephone support and online chat.
Read more at the link below about the Flexiplus Mortgage Loan offered by NAB.