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NAB Investment Rate 2 Years Fixed P&I 2.49% P.a. (Comp. 4.55% P.a.) Max 90% LVR + $500-$1000 Inhouse Rebate

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NAB is offering some NEW LOW Fixed Rate loans with Break Free Package ($395 annual fee) with a $2k Refinance Cashback:

Investment Term Principal and Interest P&I - Comparison Rate and max LVR 90%
2 years 2.49% p.a. 4.55% p.a.
3 years 2.59% p.a. 4.41% p.a.
4 years 3.09% p.a. 4.43% p.a.
5 years 3.09% p.a. 4.33% p.a.

Owner Occupied (OO) Term Principal and Interest P&I - Comparison Rate and max LVR 95%
2 years 2.09% p.a. 4.00% p.a.
3 years 2.09% p.a. 3.86% p.a.
4 years 1.98% p.a. 3.69% p.a.
5 years 2.79% p.a. 3.87% p.a.

Refinance Bonus Terms and Conditions
To be eligible for the $2,000 NAB Home Loan Refinance Cash Bonus (Cash Bonus), customers need to be refinancing an existing loan of $250,000 or more.
- Customers must refinance an existing home loan with another financial institution to NAB.
-The amount being refinanced must be drawdown must occur between 7th September 2020 and the 31st of January 2021 (Offer Period).
-The primary applicant must have a NAB transaction account open at the time of drawdown in order to receive payment of the Cash Bonus and this will be paid automatically within 90 days of drawdown.
-The offer is available to individual applicants who are owner-occupiers or investors, and excludes refinances of First Home Loan Deposit Scheme loans, non-residents, businesses, trusts and other non-natural persons.
-The offer is available on all NAB Home Loan products
-The offer is only available on refinances from another financial institution and is not available for refinances into UBank, Medfin or Advantedge home loans.
-The offer is only available once per customer within the Offer Period.
-Where there is more than one borrower, the Cash Bonus is payable only to the primary borrower.

Comparison Rates
Any quoted comparison rate is only true for the example given and may not include all fees and charges. Different terms, loan amounts or fees may result in a different comparison rate. Comparison rates are based on a loan amount of $150,000 over a loan term of 25 years.

Additional Inhouse CASHBACK from us
Separately, we are offering a $500 upfront cashback for loan less than $750k (excluding offset and redraw) for any fixed term loan of 2 years or more and offering a $1000 upfront cashback for loan greater than $750k (excluding offset and redraw) for any fixed term loan of 2 years or more.

This cashback offer is only available for applications submitted from November 25th 2020, and expires December 31st 2020. Maximum of 1 cashback per household (e.g. per couple)

Other rebates available
Citibank- Get $2,000 cashback when you refinance your eligible home loan which ends 31/12/2020 and rates start from 2.29% for OO.
Commonwealth Bank - Get $2,000 cashback when you refinance your eligible home loan with CommBank. T&Cs apply.
Suncorp - Receive up to $4,000 cashback when you refinance your home loan with Suncorp. T&Cs apply.
Virgin Money - Get $3,000 cashback when you refinance with a Virgin Money Reward Me Home Loan. T&Cs apply.
Westpac - Get $3,000 cashback when you refinance your home loan with Westpac. T&Cs apply.
St George - Get $4,000 cashback when you refinance your home loan with St George. T&Cs apply.

HOW TO APPLY
Any advice is tailored to your financial situation. Our platform would simplify the lending process and our team will ensure that you are updated throughout the whole process.

For further details about this deal or other 35 lenders we work with, please contact directly via email or phone.

James Sim - Senior Mortgage Broker
M: 02 80807581 / 0487 000 098
E: [email protected] or [email protected]
W: http://jamessimbroker.com.au
Review: https://www.ratemyagent.com.au/mortgage-broker/james-sim-hf2…
https://www.wordofmouth.com.au/reviews/nectar-mortgages-sydn…

COMPANY DETAILS
Wiz Financial Services Pty Ltd (credit representative 459750) and Credit Representatives of QED Credit Services PTY LTD (Australian Credit Licence number 387856).

Other Important Information: Applications are subject to credit approval of the respective lender applied to. Full terms and conditions will be included in our loan offer. Fees and charges are payable. Interest rates are subject to change.

Mod: Removed duplicate from title.

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National Australia Bank Group (NAB)
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closed Comments

  • -1

    most of the time fixed rates loses out to the variable option

    • +2

      For some investors, they like to have stable repayments and also current interest rates are historically low which means good time to lock in. Most fixed loan products allow $10k extra repayments.

    • +1

      Gonna be tough going from variable rates in the low 3's/high 2's of the current variable rates to get down to where these fixed rates are at the moment. Not saying it won't happen but that would mean the RBA is in negative interest rate territory. All banks want is good customers on their books and are using very attractive fixed rates to lock people in. If you're happy to be locked in, this could well be in your favour…

      • We provide repayment reports to our clients to work out how much they will save and also go through their plan with their property.
        We can access to some good basic variable rates at 2.29% for owner occupied if fixed homeloan is not suitable. Again having access to 30 banks allow us to customise a tailored solution to fit any individual financial situation.

    • No idea what you mean.

      Under either option you're already paying the annual package fee of $400ish per year.

      Given that, lowest rate is all that matters. Fixed wins.

      Note you may need multiple fixed loans to capitalise on the low rates up to three years. And if you set up your multiple fixed loans right, missing the offset has limited financial impact (Just leave a tiny variable loan for whatever emergency funds you want accessible; you can overpay most fixed term loans by a set amount workout incurring break costs).

      • Spot on with your comment.
        Come down to strategies whether to hold the properties for longer term or not.

  • Waiting on a good loan deal that has

    • $3000+ cashback
    • O/O
    • variable rate
    • low or nil package fee
    • offset

    Not many come forth yet. Two I'm looking at currently are Suncorp which has first year fee waived and St George which doesn't have the fee waived but a bigger cashback. Any others?

    • +2

      I think you'll struggle to find something that has an offset without a package fee.

      Next best thing is to push to get the first year waived.

      • I'm with tictoc which only has the $10 month offset fee. I got $1000 when I applied too. Something similar would be great.

    • Correct Suncorp would offer first year annual fee waived.
      We are a gold broker with Suncorp and happy to assist you if need more information.

      • James, any deals on your books that would be better than Suncorp in regards to my criteria above? ie. cashback, low fee, offset, variable.

  • I made the mistake of choosing NAB for my Home Loan.
    Lesson learned….. Never again!

    • One benefit dealing with mortgage brokers is ability to access more than 30banks.

      • I went through a broker.
        Nab was the issue at every step :)
        Thankfully the broker bore the brunt of it so I was a step away and didn’t give the bank my thoughts.

        It wasn’t to do with ability to repay etc but the assessor legit kept coming back and asked for stuff that was already supplied end just dragged the entire process out.

        Was painful … and didn’t leave the best impression as to their professionalism.

        And I see below you said few days turnaround…. every single person I know who has gone through NAB would disagree with this statement. Me included.

        • +1

          Hey Jimboaus
          Totally understand your frustration for what you have gone through. This can happen when banks offer attractive cashback. Few months ago, my clients had to wait for 3-4 months for their refinancing applications to settle with ANZ.
          Currently, NAB is only offering standard cashback which enables them to have a reasonable turnaround time around 3.5 to 4 days.
          Part of our discussion with our clients is to explain the banks options comparison (top 5 banks), rates, turnaround time and expectations from assessor.
          Cheers
          James

    • What happened?

      • +1

        See above
        Mostly the amateur hour way in which our loan app was handled.
        They kept coming back and saying we need Doc A or Doc B yet the docs were supplied prior and we were constantly needing to remind them they already had the docs.
        Also the assesors complete lack of understanding as to how covid affected the real person
        "Your expenses and spending seems quite low for a few months.. did something happen?"
        Was legit in lock down and the bank was like… you must have a secret account so you can spend and hide it from us.

        Just an all round SxxTshow honestly, i'll admit i may have just got a pathetic assessor but have a close friend who had similar issues.

  • Not that great rates. Advertised rates from CBA are ~0.02-0.05% more and they can usually offer you a discount off them upon request.

    • NAB is definitely competitive from a major bank who is sitting on a few days of service turnaround time versus up 15days for CBA.
      Please note that NAB allows brokers to request for pricing.
      Good thing dealing with brokers is we can help you find the best deals since we can access more than 30banks.

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