NAB

Tailored Home Loan Fixed (Interest Only in Arrears) 4 Years

Advertised Rate

3.99%

Fixed - 4 years

Comparison Rate*

4.51%

Maximum LVR
80%
Real Time Rating™

1.14

/ 5
Monthly Repayment

$1,431

based on $300,000 loan amount for 25 years

Advertised Rate

3.99%

Fixed - 4 years

Comparison Rate*

4.51%

Maximum LVR
80%
Real Time Rating™

1.14

/ 5
Monthly Repayment

$1,431

based on $300,000 loan amount for 25 years

Calculate repayment for NAB product

I'd like to borrow

$

Loan term

years

Your estimated repayment

$1,431

based on $300,000 loan amount for 25 years

Based on your details, NAB is available through brokers

MICHAEL KIANG

5.0
7 Reviews

Get expert advice from a home loan specialist.

MICHAEL is a qualified mortgage broker. Request a callback to discuss your home loan needs.

Response time: in a day

Our brokers call during business hours between 9.00am to 6.00pm.

Azm Khan

5.0
43 Reviews

Get expert advice from a home loan specialist.

Azm is a qualified mortgage broker. Request a callback to discuss your home loan needs.

Response time: in an hour

Our brokers call during business hours between 9.00am to 6.00pm.

Glenn Rowan

5.0
29 Reviews

Get expert advice from a home loan specialist.

Glenn is a qualified mortgage broker. Request a callback to discuss your home loan needs.

Response time: in 33 minutes

Our brokers call during business hours between 9.00am to 6.00pm.

Pros and Cons

Pros and Cons

    • Limited extra repayments
    • No redraw and no offset
    • Not available for first home buyers
    • Ongoing fee

    NAB Features and Fees

    NAB Features and Fees

    Details

    Maximum LVR

    80%

    Total Repayments

    Next LVR

    Interest rate type

    Fixed - 4 years

    Borrowing range

    Suitable for

    Owner Occupiers

    Loan term range

    1 - 30 years

    Principal & interest

    Interest only

    Applicable states

    ACT, NSW, NT, QLD, SA, TAS, VIC, WA

    Make repayments

    Monthly

    Features

    Extra repayments

    Yes - limited to $20000

    Redraw facility

    Split interest facility

    Loan portable

    Repayment holiday available

    Allow guarantors

    Available for first home buyers

    Fees

    Total estimated upfront fees

    $600

    Application fee

    $600

    Valuation fee

    $0

    Settlement fee

    $0

    Other upfront fee

    $0

    Ongoing fee

    $8 monthly

    Discharge fee

    $350

    Application method

    Online

    Phone

    In branch

    Specials
    • Cashback $2,000 cashback when you refinance a loan of $250,000 or more

    Pros and Cons

      • Limited extra repayments
      • No redraw and no offset
      • Not available for first home buyers
      • Ongoing fee

      NAB Features and Fees

      Details

      Maximum LVR

      80%

      Total Repayments

      Next LVR

      Interest rate type

      Fixed - 4 years

      Borrowing range

      Suitable for

      Owner Occupiers

      Loan term range

      1 - 30 years

      Principal & interest

      Interest only

      Applicable states

      ACT, NSW, NT, QLD, SA, TAS, VIC, WA

      Make repayments

      Monthly

      Features

      Extra repayments

      Yes - limited to $20000

      Redraw facility

      Split interest facility

      Loan portable

      Repayment holiday available

      Allow guarantors

      Available for first home buyers

      Fees

      Total estimated upfront fees

      $600

      Application fee

      $600

      Valuation fee

      $0

      Settlement fee

      $0

      Other upfront fee

      $0

      Ongoing fee

      $8 monthly

      Discharge fee

      $350

      Application method

      Online

      Phone

      In branch

      Specials
      • Cashback $2,000 cashback when you refinance a loan of $250,000 or more

      FAQs

      What is the ratings scale?

      The ratings are between 0 and 5, shown to one decimal point, with 5.0 as the best. The ratings should be used as an easy guide rather than the only thing you consider. For example, a product with a rating of 4.7 may or may not be better suited to your needs than one with a rating of 4.5, but both are probably much better than one with a rating of 1.2.

      What do mortgage brokers do?

      Mortgage brokers are finance professionals who help borrowers organise home loans with lenders. As such, they act as middlemen between borrowers and lenders.

      While bank staff recommend home loan products only from their own employer, brokers are independent, so they can recommend products from a range of institutions.

      Brokers need to be accredited with a particular lender to be able to work with that lender. A typical broker will be accredited with anywhere from 10 to 30 lenders – the big four banks, as well as a range of smaller banks, credit unions and non-bank lenders.

      As a general rule, brokers don’t charge consumers for their services; instead, they receive commissions from lenders whenever they place a borrower with that institution.

      Does Real Time Ratings' work for people who already have a home loan?

      Yes. If you already have a mortgage you can use Real Time RatingsTM to compare your loan against the rest of the market. And if your rate changes, you can come back and check whether your loan is still competitive. If it isn’t, you’ll get the ammunition you need to negotiate a rate cut with your lender, or the resources to help you switch to a better lender.

      What is the average annual percentage rate?

      Also known as the comparison rate, or sometimes the ‘true rate’ of a loan, the average annual percentage rate (AAPR) is used to indicate the overall cost of a loan after considering all the fees, charges and other factors, such as introductory offers and honeymoon rates.

      The AAPR is calculated based on a standardised loan amount and loan term, and doesn’t include any extra non-standard charges.

      What is a valuation and valuation fee?

      A valuation is an assessment of what your home is worth, calculated by a professional valuer. A valuation report is typically required whenever a property is bought, sold or refinanced. The valuation fee is paid to cover the cost of preparing a valuation report.

      How can I get a home loan with no deposit?

      Following the Global Financial Crisis, no-deposit loans, as they once used to be known, have largely been removed from the market. Now, if you wish to enter the market with no deposit, you will require a property of your own to secure a loan against or the assistance of a guarantor.

      Mortgage Calculator, Loan Amount

      How much you intend to borrow. 

      What does going guarantor' mean?

      Going guarantor means a person offers up the equity in their home as security for your loan. This is a serious commitment which can have major repercussions if the person is not able to make their repayments and defaults on their loan. In this scenario, the bank will legally be able to the guarantor until the debt is settled.

      Not everyone can be a guarantor. Lenders will generally only allow immediate family members to act as a guarantor but this can sometimes be stretched to include extended family depending on the circumstances.

      Mortgage Calculator, Repayment Type

      Will you pay off the amount you borrowed + interest or just the interest for a period?

      Does each product always have the same rating?

      No, the rating you see depends on a number of factors and can change as you tell us more about your loan profile and preferences. The reasons you may see a different rating:

      • Lenders have made changes. Our ratings show the relative competitiveness of all the products listed at a given time. As the listing change, so do the ratings.
      • You have updated you profile. If you increase your loan amount, the impact of different rates and fees will change which loans are the lowest cost for you.
      • You adjust your preferences. The more you search for flexible loan features, the more importance we assign to the Flexibility Score. You can also adjust your Flexibility Weighting yourself, which will recalculate the ratings with preference given to more flexible loans.

      What is a fixed home loan?

      A fixed rate home loan is a loan where the interest rate is set for a certain amount of time, usually between one and 15 years. The advantage of a fixed rate is that you know exactly how much your repayments will be for the duration of the fixed term. There are some disadvantages to fixing that you need to be aware of. Some products won’t let you make extra repayments, or offer tools such as an offset account to help you reduce your interest, while others will charge a significant break fee if you decide to terminate the loan before the fixed period finishes.

      Mortgage Calculator, Repayment Frequency

      How often you wish to pay back your lender. 

      How is the flexibility score calculated?

      Points are awarded for different features. More important features get more points. The points are then added up and indexed into a score from 0 to 5.

      How common are low-deposit home loans?

      Low-deposit home loans aren’t as common as they once were, because they’re regarded as relatively risky and the banking regulator (APRA) is trying to reduce risk from the mortgage market.

      However, if you do your research, you’ll find there is still a fairly wide selection of banks, credit unions and non-bank lenders that offers low-deposit home loans.

      What is a construction loan?

      A construction loan is loan taken out for the purpose of building or substantially renovating a residential property. Under this type of loan, the funds are released in stages when certain milestones in the construction process are reached. Once the building is complete, the loan will revert to a standard principal and interest mortgage.

      What is bridging finance?

      A loan of shorter duration taken to buy a new property before a borrower sells an existing property, usually taken to cover the financial gap that occurs while buying a new property without first selling an older one.

      Usually, these loans have higher interest rates and a shorter repayment duration.

      What happens to your mortgage when you die?

      There is no hard and fast answer to what will happen to your mortgage when you die as it is largely dependent on what you have set out in your mortgage agreement, your will (if you have one), other assets you may have and if you have insurance. If you have co-signed the mortgage with another person that person will become responsible for the remaining debt when you die.

      If the mortgage is in your name only the house will be sold by the bank to cover the remaining debt and your nominated air will receive the remaining sum if there is a difference. If there is a turn in the market and the sale of your house won’t cover the remaining debt the case may go to court and the difference may have to be covered by the sale of other assets.  

      If you have a life insurance policy your family may be able to use some of the lump sum payment from this to pay down the remaining mortgage debt. Alternatively, your lender may provide some form of mortgage protection that could assist your family in making repayments following your passing.

      What is appreciation or depreciation of property?

      The increase or decrease in the value of a property due to factors including inflation, demand and political stability.

      Mortgage Calculator, Loan Term

      How long you wish to take to pay off your loan. 

      What is a building in course of erection loan?

      Also known as a construction home loan, a building in course of erection (BICOE) loan loan allows you to draw down funds as a building project advances in order to pay the builders. This option is available on selected variable rate loans.