Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

NAB announces raft of rate changes

nab  x nab  x
Huntley Mitchell 4 minute read

NAB Broker has unveiled a swathe of new fixed and variable home loan rates, while one of the bank’s mortgage funders has slashed rates by up to 60 basis points.

The major bank’s two-year fixed rate will now start at 3.75 per cent (with a 4.84 per cent comparison rate), while its three-year rate will start at 3.89 per cent (with a 4.79 per cent comparison rate), and its one-year and four-year rates will start at 3.99 per cent (with comparison rates of 4.97 per cent and 4.75 per cent respectively).

NAB Broker has also made further reductions on its Homeplus variable rate specials on new applications with a maximum LVR of 80 per cent and an aggregated loan amount of $250,000 or more.

For owner-occupiers, the rate will be 3.99 per cent for principal-and-interest loans (with a 4.17 per cent comparison rate) and 4.09 per cent for interest-only loans (with a 4.54 per cent comparison rate).

Advertisement
Advertisement

For investors, the rate will start at 4.14 per cent for principal-and-interest loans (with a 4.31 per cent comparison rate) and 4.24 per cent for interest-only loans (with a 4.68 per cent comparison rate).

Steve Kane, general manager at NAB Broker, said the pricing changes reflect the bank’s commitment to delivering competitive products to the broker community.

“We are pleased to be continuing to offer a compelling proposition for our brokers and borrowers, and giving brokers the tools they need to stand out in the market,” he said.

Meanwhile, NAB-owned mortgage funder Advantedge has announced cuts of up to 60 basis points for some of its fixed-rate loan products.

The group’s four-year fixed rate has seen the biggest reduction, down 60 basis points, while its three-year and one-year rates have dropped by 15 basis points, and its two-year rate has been cut by four basis points.

PROMOTED CONTENT


The new rates are available to all of Advantedge’s white-label partners.

Brett Halliwell, general manager of Advantedge, said the rate changes reinforced the group’s commitment to equip aggregators and brokers with the best possible products to stand out in the dynamic home loan market.

“With four fixed-rate terms under 4 per cent, Advantedge is clearly delivering sharp rates to our aggregator and broker partners,” he said.

“Our white-label products have always been simple, high-value and flexible, and these offers further demonstrate our competitiveness.”

[Related: ING Direct cuts rates for investors]

NAB announces raft of rate changes
nab  x
TheAdviser logo

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Work smarter, not harder, in 2022 and beyond, visit the website here to secure your ticket.

nab  x

 

more from the adviser
YBR home loans 850x380 ta

Breaking News

YBR Home Loans flags digital pivot, broker expansion

The major brokerage has launched a digital mortgage broking busin...

stressed woman ta

Breaking News

‘Perfect storm’ of trouble ahead for SMEs

An SME lending company has warned that many retail and supplier b...

uptick

Breaking News

Wisr hits high for new loans

The ASX-listed personal lender wrote $132 million in new loans du...