NABBroker is the National Bank of Australia’s (NAB) suite of mortgage solutions for mortgage brokers and their customers. These solutions have the interests of the customers in mind since there are products to suit every need and NAB Broker is flexible enough to grow as the needs of customers change.
NAB Broker offers three distinct products to cater to the unique needs of every client: Homeplus, Fixed Rate Interest Only, and Peak Performance. Below is a quick overview of each product:
1. Homeplus. This is a home loan package that includes a 100% offset arrangement linked to a NAB Classic Banking account, as well as an eligible NAB Credit Card with its annual fee waived for the life of the loan.
Some of its features include an option between principal and interest, or interest only repayments, fixed or variable rate options, 100% offset capability during the variable rate period, low interest rates, and a competitive $10 monthly fee.
The interest only option may be provided for the first five years of the loan. Meanwhile, the interest rate may be fixed from one up to five years. Borrowers may also take out up to 80% loan to value ratio (LVR) without Lender’s Mortgage Insurance (LMI) (60% for low doc loans), or up to 95% LVR with LMI (up to 80% for low doc loans).
2. Fixed Rate Interest Only. This is designed with property investors in mind. This allows borrowers to fix the interest rate for one year, and pay the interest annually in advance. As a result, investors will be able to manage their taxes and cash flow better.
3. Peak Performance. This product works as a flexible line of credit, thus providing borrowers access to funds when they wish to renovate their property, purchase new investments, or even make personal purchases.