Making the most of your home loan

Living with a home loan is easier when it changes with you. Use your loan like you want to – reduce its costs, take advantage of additional equity at your disposal, or take it with you when you move house.

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Getting a home loan health check

Your home loan might not suit you as well as used to. If your circumstances or priorities have changed, it's time for a home loan health check. You can get a thorough home loan health check from your banker or by requesting over the phone..

Reducing your home loan costs

The best way to reduce the total cost of your home loan is to pay it off as soon as you can. Our Extra repayment calculator shows you the effect of increasing your regular repayments. You could also add the occasional lump sum when you can afford it.

There are also home loan features that can save you money:

Using your extra equity

If you're ahead of your scheduled home loan repayments, you can access your extra equity. You might want to use it for investments, or as extra spending money.

  • Redraw is available with all of our variable rate home loans. If you're far enough ahead of your repayments, you have the option to withdraw the available excess funds on your home loan account. It's worth noting that with NAB Base Variable Rate Home Loan there is a $50 fee to redraw.
  • Repayment holidays are available with most of our home loans. If you're far enough ahead with your repayments, you could take a break for 2-12 months. This frees up cash for things like renovations down the track.

With a line of credit, your home loan is like an overdraft backed by your equity. You can access funds up to your credit limit.

Keeping your loan when you move

All of our home loans are portable. This means that when you move, you can keep your loan and secure it against your new house. We don't charge a switch fee for moving a portable loan.