How Do NAB’s Investment Property Loans Compare?
NAB helps property investors expand their portfolios by providing extensive support and access to their numerous investment loan packages.
One of the Big Four banks, NAB provides great incentives. Our brokers have listed some pros and cons of securing a loan with this lender:
| Pros | Cons |
|---|---|
| Great cashback offers | Tough credit scoring |
| Extensive network | Interest rates and fees for small loans not always competitive |
| Upfront bank valuations | Approval largely depends on the experience of the credit manager you have been assigned |
| Interest rates negotiable for large loans | Strict lending policy for self-employed borrowers |
| Accepts applications for National Disability Insurance Scheme (NDIS) | High annual fee for Choice Package |
| Loose borrowing capacity assessment | Slow turnaround of loan application process |
Click here to get started on your investment loan application with NAB.
What Fixed-Rate Investment Loans Does NAB Offer?
Signing up for a fixed-rate investment loan can protect you from rising interest rates. NAB provides fixed-rate loans for between one and five years.
The two packages NAB has on offer for fixed-rate investment property loans are:
1) NAB Choice Package: provides a wide range of discounts and extra benefits. The features included in this package are:
- Discount rates
- Pay an annual fee of $395 and save on home loan application fees and monthly service fees
- $0 annual credit card fee
- Up to 10% off on selected insurance products
*NAB offers the Choice Package with other options, too, such as Interest-Only in Arrears and Interest-Only in Advance.
2) NAB Tailored Home Loan: Features included in this package are:
- Offset account available
- You can use as a construction loan
- Flexible repayment options
- Redraw facility available
- Make additional repayments
*NAB also offers the Tailored Home Loan with other options, such as Interest Only in Arrears and Interest Only in Advance.
What Variable-Rate Investment Loans Does NAB Offer?
NAB’s variable-rate loans offer great flexibility and more features, such as options that allow you to pay off your mortgage sooner.
NAB’s variable-rate investment loans are offered in three packages:
1) NAB Base Variable-Rate Investment Home Loan:
- No monthly service fees
- Additional repayments available with no fees
- Redraw facility available
- Flexible repayments
2) NAB Choice Package:
- $0 annual credit card fee
- Pay an annual fee of $395 and save on home loan application fees and monthly service fees
- Up to 10% off on selected insurance products
*Choice Package is also available with an Interest-Only option.
3) NAB Tailored Home Loan:
- Offset account available
- Use as a construction loan
- Flexible repayment options
- Redraw facility available
- Additional repayments available
Read more about NAB home loans in our review of the lender as a whole, here.
NAB Investment Loan – Client Story
Chen, NSW
Goal
Securing A High Loan Amount For Purchasing An Investment Property
Background
Chen and his wife are both self-employed. Chen is a general practitioner and his wife, Grace, is the managing director at an online-tutoring firm. Both have a healthy income stream and credit history, and a strong list of assets.
They wanted to purchase an investment property but were troubled by the fact that it was difficult for them to find a lender willing to provide more than $1.5 million. The other issue was that their declared expenses did not match their spending habits. Thus, the process of getting a loan seemed like it would be quite long and challenging for them.
Solution
Chen and Grace contacted us for our expertise in working out difficult deals. Our expert broker Robert Mo had the pleasure of working with the couple. Firstly, Robert had to deal swiftly with the discrepancies in the declared expenses so upon receiving permission from the couple, Robert amended the mistakes in their declared expenses. After that, it was all about finding the right lender who was willing to let them borrow more than $1.5 million. The total loan amount they were after stood at $2.2 million. Due to Chen and Grace’s excellent income stream, loan security, and strong asset backing, the chances were high to get their loan approved.
Robert used his expertise to pinpoint a few lenders that he deemed a good fit. After comparing multiple lenders, Robert decided to go with NAB. Due to the couple’s excellent financial position, Robert was able to obtain the following for the couple:
- Loan amount of $2.2 million
- LVR of 75%
- Loan term of 30 years
- The ‘Professional Package’, which is quite competitive
- An offset account
- A low interest rate of 2.45%
Chen and Grace initially thought securing a large investment loan as a self-employed couple would be a daunting task. In the end, they were very grateful for Robert’s help in setting them on their journey to owning an investment property.
Looking To Kickstart Your Investment Portfolio?
To learn more about investment loans, or to find out if NAB is the right lender for you, contact our specialist mortgage brokers at 1300 889 743 or fill in our online assessment form and we will contact you.
