This special offer is for new owner occupier, principal and interest home loans where the customer has a deposit of 20% or more of the property value3 .For more information on comparison rates1 and the fees and charges that can apply please refer to our important information below.
1 Comparison rates are based on a secured loan of $150,000 over a term of 25 years.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
2 Application Fee Waiver Offer Terms and Conditions
The Application Fee Waver Offer (“the Offer”) is a waiver of the Application Fee of $600 on a new Base Variable Rate Home Loan.
The Offer is available from 1 November 2019 until withdrawn by NAB. NAB may vary or end this offer at any time without notice. To be eligible for the Offer, an application must be submitted during the period that the offer is available and then approved, and drawn down within the time period set out in the applicant’s loan offer.
The Offer is available for new lending only (including refinances and limit increases for existing borrowers). The Offer is not available for any variation or change of loan purpose of any existing NAB home loan where a new application is not required.
3 Discount Offer Terms and Conditions
This Base Variable Rate Discount Offer ("Offer") replaces the previous Base Variable Rate discount offer dated 16 August 2019. Under the Offer, eligible residential investor customers may benefit from a discount.
For owner occupier borrowers making principal and interest repayments, the discount off the advertised Base Variable Rate for Home Loans indicator rate is:
- 1.55% p.a. where Loan to Value Ratio (LVR) ≤80%
- 1.35% p.a. where Loan to Value Ratio (LVR) >80%
For residential investor borrowers making principal and interest repayments, the discount off the advertised Base Variable Rate for Residential Investment Home Loans indicator rate is:
- 1.77% p.a. where Loan to Value Ratio (LVR) ≤80%
- 1.57% p.a. where Loan to Value Ratio (LVR) >80%
For residential investor borrowers making interest only repayments, the discount off the advertised Base Variable Rate for Interest Only Residential Investment Home Loans indicator rate is: 1.36% p.a. where Loan to Value Ratio (LVR) ≤80%
For the purpose of the Offer, LVR or Loan to Value Ratio means the value of the customer’s total NAB home lending divided by the total value of secured property.
The Offer is available from 5 December 2019 until withdrawn by NAB. NAB may vary or end this offer at any time without notice. To be eligible for the Offer, an application must be submitted during the period that the offer is available and then approved, and drawn down within the time period set out in the applicant’s loan offer.
The Offer is available on a new Base Variable Rate Home Loan of $20,000 or more.
The Offer is available for new lending only including refinances. The Offer is not available for any variation or change of loan purpose of any existing NAB home loan where a new application is not required, except existing NAB borrowers who apply for an increase in their NAB Base Variable Home Loan of $20,000 or more.
The Offer will permanently cease to apply to any otherwise eligible NAB Base Variable Rate Home Loan on the earlier of:
- any change to loan purpose or repayment type; or
- loan ceases to be a NAB Base Variable Rate Home Loan
The Offer is not available in conjunction with any other discount offer that may apply to NAB Home Loans from time to time. Not available to company and trust account holders.
4Maximum 95% Loan to Value Ratio (LVR) for principal & interest owner occupied home loans.
5$2,000 Home Buying Bonus
To be eligible for the $2,000 Home Buying bonus, customers need to drawdown a new home loan, or increase the limit of an existing home loan by $250,000 or more. Eligible NAB Home Loan products only . Customers must hold a NAB transaction account. Specifically, customers need to meet the following eligibility criteria:
- NAB Home Loan
- Drawdown must occur between Monday 17 June 2019 and Tuesday 31 December 2019 inclusive (“Offer Period”).
- Home Buying Bonus is only available to new and existing customers who drawdown a new loan or increase the limit of an existing loan by $250,000 or more into an eligible NAB Home Loan product.
- Available on all NAB Home Loan products excluding refinances, lines of credit and Portfolio facilities or loans for building and construction purposes (BICOE loans).
- The offer is only available to individuals, including both owner-occupiers and investors. Businesses, trusts, non-resident borrowers and other non- natural persons are ineligible for the Home Buying Bonus.
- The offer is not available on uBank or Advantedge loans.
- The Home Buying Bonus is available only once per home loan application and per security. However, a customer is eligible to receive further bonuses if they drawdown additional loans on separate securities. Where there is a joint application, only the primary applicant will receive the Home Buying Bonus. However, either applicant may be eligible for additional bonuses for further loans drawn down on separate securities, subject to meeting other eligibility criteria.
- NAB Transaction Account
- At the time of drawdown, the primary (first named) home loan applicant must hold a personal NAB transaction account and continue holding it for at least the next 90 days.
- The nominated NAB transaction account must be open at the time the $2,000 Home Buying Bonus is to be credited to the account.
- The $2,000 Home Buying Bonus will be credited to the nominated NAB transaction account of the applicant within 90 days of drawdown of the home loan. Where there are joint applicants, the bonus will be deposited into the account of the primary (first named) applicant.
NAB Base Variable Rate Home Loan is not available to applicants who reside overseas (regardless of citizenship) and for applicants who require Foreign Investment Review Board (FIRB) approval to purchase residential property in Australia.
Correct as at 1 November 2019 and subject to change. Applications for credit are subject to NAB’s credit approval criteria. Terms and Conditions apply to all NAB products and are available on application. Fees and charges are payable. National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686 (NAB).
