NAB Tailored Home Loan is now live!

08th Aug, 2022 | Branch News 11 August 2022, Lender Updates

In this article:
NAB has recently launched their refreshed NAB Tailored Home Loan.

NAB is committed to delivering a faster, smarter and simpler experience for their brokers and customers. 

They have recently launched their refreshed NAB Tailored Home Loan. It gives customers access to more competitive pricing and all the features they love!

With more transparent rates, great pricing and no application fees, it’s set to become NAB’s ‘hero’ home loan and help them deliver a faster experience with exceptional service. 

The benefits of NAB’s refreshed Tailored Home Loan at a glance

Features customers love:

  • Better pricing for customers with a greater deposit or more equity through LVR tiered pricing
  • Access to a 100% offset account on variable rate loans
  • Fee-free redraw on variable loans (minimum $500)
  • Can be used for construction

Low ongoing fees: 

  • A simple $8 monthly fee per loan account ($96 p.a.)
  • No annual fees
  • No application fee, saving customers $600 when they apply

More competitive pricing by introducing four new Loan to Value Ratio (LVR) tiers:

  • 60% or less
  • 01% – 70%
  • 01% – 80%
  • 01% or more

Note: The four new LVR tiers will only be available on the standalone NAB Tailored Home Loan. There are no changes to the NAB Base Variable Rate or for NAB Choice Package Tailored Home Loan.

Important: Which customers will be able to access the new LVR tiers?

  • The new LVR tiers will be available for new NAB Tailored Home Loan loans which are originated via Apply Online (AOL) on or after Monday 25 July 2022
  • NAB Tailored Home Loans issued on or before 25 July will not be able to access LVR tiered pricing unless a credit-critical variation is made 
  • LVR tiered pricing will not be available for NAB Tailored Home Loans included in a Choice Package

Additionally, NAB has worked closely with their Product Team to ensure Aggregator Software has been updated with the correct product specifications and rates.

What brokers need to do

To access these great benefits, brokers will simply need to:

  • Work with their customer to calculate their LVR before submitting a request through NAB’s Instant Pricing Tool. Helpful instructions are on the NAB Broker Portal.
  • Ensure the LVR in the pricing request matches the LVR in the application submitted. Detailed instructions for the new process will be added to the Resources section of the NAB Broker Portal.

If you have any questions, refer to your YBR BDM.

*WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.