NAB Rural Lifestyle Fixed 5 Years

The NAB Rural Lifestyle Fixed 5-Year home loan has been designed for those borrowers wishing to buy rural properties. It is a cost-effective and dynamic option.

This version is based off a 5-year introductory fixed rate that will revert to an variable after the timeframe elapses. It comes with the usual benefits like repayment holidays, split loans, and additional payment options. Unlike the straight variable rate loan the fixed rate does not offer the redraw facility. The standard $8 service charge applies to this loan product.

The NAB Rural Lifestyle home loan provides borrowers with a range of fixed and variable rate home loans to meet their needs. An additional line of credit is also available.

KEY BENEFITS

Additional Repayment

You can pay extra on your loan for an unlimited amount once it reaches the variable rate term. Otherwise, if you exceed $20,000 you can expect to pay penalties for prepayment and other associated fees.

Split Loans

If you want to take advantage of different loan benefits, the split loan feature give you the opportunity to get two distinct loans for the same property while only paying for a single application fee.

Repayment Holiday

You have the option to halt further mortgage payments using this feature. The catch is that you must be paid ahead on your loan repayment schedule to use it.

Maximum Loan Available

With this type of loans you have the option to borrow 70% of the property value for those properties zoned as Rural Freehold. The amount is 65% of the value for homes zoned as Rural Leasehold.