NAB Rural Lifestyle Fixed 3 Years

The NAB Rural Lifestyle Fixed 3-Year home loan is a dynamic and cost-effective type of loan that was created to help buyers purchase rural properties.

This loan offers comes with a 3-year introductory fixed rate and comes with additional features including repayment holidays, split loans, and extra payment options. While available with the variable Rural Lifestyle loan, the redraw facility offered with the fixed-rate loan.) An $8 loan service charge must be paid every month.

NAB Rural Lifestyle home loans are available as variable and fixed rate options. Those who like even more flexibility might choose a line of credit through the Rural Lifestyle home loan.

KEY BENEFITS

Additional Payments

You may make unlimited additional payments once the loan is past the fixed term and in the variable rate term. If your extra repayments exceed $20,000 during the fixed term, you may have to pay penalty fees for prepayment and other costs.

Repayment Holidays

You can halt payments on your mortgage temporarily using a repayment holiday. You will need to be paid ahead on your scheduled payments to use this option.

The Split Loan

You can use this to separate your single loan into two loans for the same property while only paying one application fee. You can get the benefits of different types of home loans.

Maximum Loan Available

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.