Why refinance with us?

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Easy online process

Refinancing online is quick and easy. Your online application for conditional approval can take as little as 20 minutes.

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Access powerful new features

Get access to a host of home loan features like 100% offset account, fee-free redraw on variable loans and the NAB Mobile App.

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Unlock your equity

Use our tools and calculators to help you understand how much equity you can unlock in your property and how you can use it.

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Refinance bonus

Enjoy a $4,000 refinance bonus1

Refinancing your property can be challenging enough. Having the opportunity to receive a $4,000 bonus when you refinance your eligible home loan of $250,000 or more with NAB, could make that move a little easier.

Offer valid for eligible drawdowns between 1 January 2020 and 30 June 2020. Cash bonus is capped at one per customer.

Drawdown between 1 January 2020 and 30 June 2020.

1 Offer excludes line of credit facilities. Offer is not available to customers refinancing from NAB or NAB’s affiliates such as uBank, Medfin and Advantedge. See important information including eligibility and lending criteria and terms and conditions below.

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Things to consider before refinancing

Are you thinking about moving home or renovating? Maybe you've had your home loan for years and it no longer suits? Then it might be time to think about switching your loan.

To make sure switching is right for you, we’ll explain how refinancing works and the reasons to refinance with a NAB Home Loan.

What is refinancing?

Refinancing is the process of taking out a new mortgage to replace an existing loan. While this can be with the same lender, it often involves switching to another bank.

Reasons to refinance your existing home loan

  • To get a better interest rate or different features and add-ons such as redraw facilities or flexible payments.
  • To use the equity in your home to borrow money to renovate or improve your lifestyle with a new car or holiday.
  • To consolidate debts such as a personal loan, car loan or credit card into your mortgage so it’s easier to manage your finances.

Prepare with tools and guides

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How much can I borrow?

Obtain an estimate of what you could afford to borrow and compare different loan scenarios.

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Property insights

Get a free property report for an estimate of how much the property is worth.

Property insights

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Bridging finance

Explore the pros and cons before deciding if a bridging loan is right for you.

Understanding bridging loans
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Helpful guides

Whether you’re buying, renovating, upgrading or paying off your home loan, read our top property tips.

Home and property tips

Ready to get started?

Apply online for conditional approval. It should take only 15-20 minutes.

Basic Variable

Pay no ongoing monthly fees with our simple, low-rate home loan.

Variable with Offset

A home loan with a discounted variable rate and a 100% offset account.

Fixed Rate

Lock in your interest rate and enjoy the certainty of fixed repayments.

Important information

1 NAB Home Loan Cash Bonus

To be eligible for the NAB Home Loan Cash Bonus:

  • between 1 January 2020 and 30 June 2020, customers need to either:
    • drawdown a new NAB home loan by $250,000 or more, or increase the limit of an existing NAB home loan (and draw it down) by $250,000 or more (New Lending Cash Bonus), or
    • refinance an existing home loan to NAB of $250,000 or more (Refinance Cash Bonus), and
    • the primary (first named) home loan applicant must hold a NAB personal transaction account at the time the Cash Bonus is to be paid.

Eligible customers will receive $2,000 with the New Lending Cash Bonus and $4,000 with the Refinance Cash Bonus.

The New Lending Cash Bonus and the Refinance Cash Bonus are collectively referred to as the “Cash Bonus”.

We’ve set out the full eligibility criteria for the Cash Bonus offer below.

  1. NAB Home Loan
    • Drawdown for the New Lending Cash Bonus must occur or the home loan refinance to NAB for the Refinance Cash Bonus must be settled (as the case may be) between 1 January 2020 and 30 June 2020 inclusive (“Offer Period”).
    • The Cash Bonus is only available to new and existing NAB customers who drawdown new or additional lending of $250,000 or more, or refinance an existing home loan from another financial institution of $250,000 or more into an eligible NAB Home Loan product.
    • The Cash Bonus is available on all NAB Home Loan products excluding lines of credit, the NAB Portfolio Facility, the NAB Private Portfolio Facility, and loans for building and construction purposes.
    • The Cash Bonus is not available for refinances of existing NAB, uBank, Medfin or Advantedge home loans.
    • The Cash Bonus is not available for new lending or refinances into uBank, Medfin or Advantedge home loans.
    • The Cash Bonus is only available to borrowers who are individuals, and covers both owner-occupiers and residential investors.
    • Businesses, trusts, non-resident borrowers and other non-natural persons are ineligible for the Cash Bonus.
    • The Cash Bonus is not available for home loans where the guarantor (if any) is not an individual.
    • The New Lending Cash Bonus and the Refinance Cash Bonus are both limited to one Cash Bonus per customer. This means a customer can receive at most $6,000 under the Cash Bonus offer.
    • Eligible customers can receive a maximum of one Cash Bonus under the Cash Bonus offer per secured property. For example, an eligible customer can receive at most:
      • One payment of $2,000 under the New Lending Cash Bonus in respect of a secured property and one payment of $4,000 under the Refinance Cash Bonus in respect of a separate secured property; and
    • The customer will not be eligible for further Cash Bonuses in respect of further NAB home loans entered into (or refinanced to NAB) during the Offer Period.
    • Where there is a split home loan in respect of a secured property, eligible customers can receive a maximum of one Cash Bonus under the Cash Bonus offer in respect of that home loan.
    • Where there is a joint home loan application, only the primary home loan applicant will receive the Cash Bonus under the Cash Bonus (if eligible).
    • In the case of joint applicants, if one joint applicant has received a Cash Bonus under either the New Lending Cash Bonus or the Refinance Cash Bonus in the Offer Period for a different loan, then both joint applicants will be ineligible to receive a further Cash Bonus under the New Lending Cash Bonus or the Refinance Cash Bonus (as applicable).
  2. NAB Personal Transaction Account
    • At the time of drawdown for the New Lending Cash Bonus or settlement of the refinanced home loan under the Refinance Cash Bonus, the primary (first named) home loan applicant must hold a NAB personal transaction account and continue holding it for at least the next 90 days.
    • The NAB personal transaction account must be open at the time the NAB Home Loan Cash Bonus is to be credited to the account.
    • The NAB Home Loan Cash Bonus will be credited to the NAB personal transaction account of the eligible applicant within 90 days of drawdown of the home loan or settlement of the refinanced home loan (as the case may be).
    • Where there are joint applicants, the bonus will be deposited into the account of the primary (first named) applicant.

Other important information

  • Any other product offers from NAB (including the Base Variable Rate Application Fee Waiver or Credit Card offers that are made by NAB from time to time) are independent from this NAB Home Loan Cash Bonus and customers can benefit from multiple NAB offers (if they meet the applicable eligibility criteria) unless the Terms & Conditions of the applicable offer expressly state otherwise.
  • A change to an existing NAB Home Loan with no new lending over $250,000 which results in a new account number does not qualify as an eligible refinance.
  • Terms, conditions, fees, charges, eligibility criteria and lending criteria apply for all NAB products (available on request).

Correct as at 22 November 2019.

NAB may vary this offer (including extending the Offer Period) or end this offer at any time without notice.

2 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 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.

Lowest advertised variable rate since 1978 for NAB issued home loans.

3 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.

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.

Personal Banking Fees - A guide to fees and charges (PDF, 316KB)

Interest rates for home lending

© 2019 National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686.

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