NAB Rural Lifestyle Fixed 2 Years

NAB Rural Lifestyle Fixed 2-Year home loans are a cost-effective and flexible style of loan that has been developed specifically for buying rural real estate.

This fixed-rate loan offers added features like split loans, repayment holidays, and additional payments. (The redraw facility feature is not available with the fixed-rate loan.) This type of Rural Lifestyle home loan has a 2-year introductory fixed rate. An $8 service fee is charged each month.

NAB Rural Lifestyle home loans provide borrowers with the choice of both variable and fixed rate loans. Those who desire more flexibility could include a line of credit with the Rural Lifestyle home loan.

KEY BENEFITS

Additional Repayment

You can choose to make unlimited extra payments during the variable rate term of your loan. At the same time, there could be prepayment fees and other economic costs if your repayments exceed $20,000 while in the fixed rate term.

Repayment Holidays

This option provides you with the ability to stop making payments on the loan for a temporary period. If you want to use the repayment holiday, you need to be ahead on your monthly payments.

Split Loan

This feature lets you take out two separate loans on the same property while only paying one loan application fee. The split loan allows you to use different NAB home loans in order to use their specific features.

Maximum Loan Amount

You are allowed to borrow up to a maximum of 70% of the property value provided it has been zoned as a Rural Freehold. If a property is zoned as Rural Leasehold, you can get a loan for up to 65% of the value.