Ratings
LVR options
LVR is an acronym for Loan-To-Value Ratio. The LVR is the amount you are borrowing against the property value being used as security, represented as a percentage.
NAB Base Rate does not offer tier pricing for lower LVR. With Base Rate, you can borrow upto $90% LVR.
90%
LVR
NAB
Repayment options
Interest only loans have traditionally been tailored to investors so they can reduce their mortgage repayments and maximise their tax benefits and overall return on investment (ROI). However, getting home loan with interest only (IO) has its place and some lenders are willing to consider your application if you can provide valid reasons.
Tips: To get approved for an interest only home loan you need to have a strong enough income to afford principal and interest (P&I) repayments once your interest only term expires. Sometimes extending your interest only period can be tough and getting approved for a P&I refinance is a lot easier.
Paying pricinpal and interest
NAB
Paying interest only
NAB
Q&As
Does NAB Base Rate comes with an offset account?
No, Base Rate does not come with an offset account.
Generally speaking, variable home loans without offset accounts are often called basic or 'no-frills' loans, you get lower account-keeping fees and lower interest rate for your home loan. In some cases a basic home loan can actually be cost efficient than a 100% offset account.
What are the costs to apply for NAB Base Rate?
There is no upfront costs to apply for Base Rate
- Application fee: $0
- Valuation fee: $0
- Settlement fee: $0
Are there costs when I exit or refinance to another lender?
NAB charge a discharge fee of $350, which covers the cost for removing the mortgage that has been registered on the title of your property.
IMPORTANT: Lenders change their policy from time to time so this information is current only accurate at the time that it was written. You should always check with NAB or a mortgage broker just to be sure. This information should be used as a guide only.