NAB Rural Lifestyle Fixed 1 Year

NAB Rural Lifestyle Fixed 1-Year home loans offer flexible and cost-effective loan options that are created especially to purchase rural properties.

This fixed-rate loan has benefits like extra repayments, repayment holidays, and split loans (Redraw facility is only available with variable rate loans.) This version of the Rural Lifestyle home loan has a 1-year introductory fixed rate term. You will also pay an $8 service fee each month for this product.

NAB Rural Lifestyle home loans give borrowers the option of both fixed and variable rate loans. Those who want more flexibility may choose a line of credit.

KEY BENEFITS

Extra Payments

Customers have the option of making unlimited extra payments during the loan’s variable rate period. However, a there may be a prepayment fee and other economic costs if the payment exceed $20,000 in the fixed rate period.

Repayment Holiday

This feature lets you to cease making payments on the loan for a certain period. To use it, the borrower must be ahead on their monthly loan repayments.

Split Loans

This feature allows you to have two different loans for the same house or property and only pay one application fee. You can get two different types of NAB home loans to make use of their unique benefits.

Maximum Loan Amount

You can borrow up to a maximum of 70% of the property value if it is zoned as a Rural Freehold. Those zoned as Rural Leasehold can get a loan for a maximum of 65% of the property value.