NAB Tailored Fixed 5 Years

The NAB Tailored 5-Year Fixed Rate home loan is offered with a five-year introductory fixed rate that will be replaced with the NAB standard variable rate once the term expires.

This style of loan can be incorporated into one of NAB’s Choice loan packages, a combination of various NAB products. This means that you may be able to save money by merging the annual fees on those separate products into one.

You can take advantage of NAB’s flexible repayment terms by paying your payments by the week, the fortnight, or the month. If you want to pay interest only in advance you do it on an annual basis. Those paying interest only for loans in arrears, monthly payments are preferred.

KEY BENEFITS

Here are some the loan’s normal benefits.

Advanced Repayments

This feature of the loans allows you to repay unto to $20,000 in extra payments while in the introductory fixed term. Unlimited payments are allowed in the variable rate period.

Payment Holidays

If you are paid ahead on your mortgage, you should be able to stop your payments to take advantage of a payment holiday.

Interest Only Payment

Whether your loan is in arrears or you want to pay in advance, you can opt to pay up to five years on an interest only basis.

Redraw

When you have paid your payments ahead during the fixed rate term, you may be able to take out extra cash once the period expires.

Split Loan

You can take out two different kinds of loans on a house but only be responsible for paying one application fee.

Aiding The Self Employed

Many of the self-employed do not keep the same types of records that are required by lenders so they need help. This loan offers a “Low Doc” option to them.