Conditional approval is a step forward in the home buying journey. It shows agents and vendors you're the real deal. And it lets you search and bid for a property with confidence.
- The conditional approval loan assessment is based on a NAB Tailored Variable Rate Home Loan with principal and interest repayments. If you have conditional approval, you may be able to take out a different loan option instead (for example, an interest only loan). But you’d need to talk to us first as the loan type can affect our decision.
- You also must be able to self-fund all fees and charges connected to your purchase and the loan (other than LMI). If you want to use your loan to pay for these, you’ll need to speak to a banker first as this may influence our decision.
- The security used in this application must be the property you are wishing to purchase (i.e it can’t be another property you own).
- Your loan must be to buy an existing (i.e already built and not off-the-plan) property that’s at least 50 square metres. It can’t be a serviced apartment, rural lifestyle property, group of flats, specialised accommodation or National Rental Serviceability Scheme residence).