NAB Flexiplus Mortgage
Posted May 21st, 2010
and last modified April 20th, 2012
What happens when I click Enquire Now?
- Clicking Enquire Now will take you to the lender's website
- After completing the contact form, a mortgage expert will contact you
- The mortgage expert will ensure you find the right loan, calculate your repayments, and explains all the associated fees
- After going through the enquiry process you will be able to know how much you can borrow, begin your application when you are ready to apply and be approved for a home loan
With the NAB Flexiplus Mortgage, you can maintain a flexible line of credit, and access it any time. Flexiplus is suited to almost any Home Owner, Investment property Owner or Commercial property owner and is praised due to it’s flexibility and wide range of attributes on offer.
What’s different about the NAB Flexiplus Mortgage?
The NAB Flexiplus Mortgage is unique in that it can suit just about any home buyer needs, especially many non-conforming requires too. You may want to consider this loan if you:
- Need to borrow a lot? With Flexiplus, new home owners can borrow up to 90% of the property value, allowing you the opportunity to purchase sooner, rather than save for a large deposit for years prior.
- Still Building? You can use your Home Loan funds when and if you need them. Ideal for first home buyers or younger buyers, as well as investment properties and second purchases.
- Need to borrow just a little? The minimum borrowing amount is $20,000. This is a benefit to either first home buyers, or those looking to purchase a small investment property. It is also suited to those who have saved a large deposit.
- Self Employed? The ‘Low Doc’ (Minimal documents) process is available for business owners and sole traders alike, because you may not have the financial statements that are readily available for borrowers on a salary. Your BAS (Business Activity Statement) is a document you may want to have readily accessible if you are ready to apply soon.
- Want to redraw on your Home Loan? You may not be sure if you want this feature yet, but this is mostly attractive to those who want to know that there Home Loan is there when they need a financial boost. Before you apply, check with your Mortgage Broker to assess eligibility and fine print.
- Receive an unpredictable income? Not everyone is paid the same amount of money on the same day of every week. You might get paid weekly, fortnightly or even monthly. The Flexiplus Mortgage option allows you to choose what frequency your repayments are made.
Above is a basic account of what attributes are on offer with the NAB Flexiplus Mortgage, and you should already be able to see that it is a flexible and unique Mortgage option. Now you are probably thinking about fees. Many Lenders and banks require ongoing, large fees and some loans carry higher fees than other types of Mortgage Loans.
Fees can be charged for any of the following reasons; Loan origination, Application fee, Home Loan Maintenance, Account keeping and many more, which can be hidden from the borrower.
The NAB Flexiplus has $600 application fee and carries only a $250p.a. Service fee. This is a very minimal amount of fees, and considerably lower than many of the competitive Home Loans on offer from many lenders.
What about Rates – How competitive is the NAB Flexiplus Mortgage?
As the borrower, and considering your Mortgage will be paid instalments for a large part of your life (usually around 20 years), rates are a big part of your decision, as they should be.
What is a comparison rate, and what does it mean to me?
The Comparison Rate combines the lender’s interest rate, fees and charges into a single rate to show the true cost of a home loan.
Read the NAB Flexiplus Mortgage terms and conditions.
| Minimum Loan Amount | $20,000 | |
|---|---|---|
| Maximum Loan Amount | $10,000,000 | |
| Maximum LVR | 90% | |
| Maximum Insured LVR | 90% | |
| Mortgage Offset Account | Yes | |
| Loan Redraw Facility | Yes | |
| Split Loan Facility | Yes | |
| Fixed Interest Option | No |
| Interest Rate Type | Variable | |
|---|---|---|
| Interest Rate | 7.14% | |
| Repayment Type | Principle & Interest | |
| Repayment Frequency | Weekly | |
| Extra Repayments | Yes |
| Application Fee | $600 | |
|---|---|---|
| Legal Fee | $0 | |
| Valuation Fee | $0 | |
| Service Fee | $250 | |
| Settlement Fee | $0 | |
| Exit Fee | $150 |
Top Home Loans
| Home Loan | Details | Interest Rate (p.a.) | Comp Rate^ (p.a.) | App Fee / Ongoing Fee | Max LVR | Min & Max Borrowing | |
|---|---|---|---|---|---|---|---|
 Loans.com.au - Dream Catcher | A home loan offer with a $0 application fee and one of the lowest available home loan interest rates. | 5.85% | 6.21% | $0 / $375 | 80% | $50,000 / $750,000 |
 
|
 Bankwest Online Home Loan | A low interest rate home loan with a $0 application fee and ongoing maintenance fees. This offer is exclusively available by applying online. | 5.97% | 5.97% | $0 / $0 | 80% | $100,000 / $1,000,000 |
|
 Illawarra Home Loans Bank Beater Home Loan | A low variable rate, beaten down even further by 0.05% p.a. after 5 years. | 6.07% | 6.35% | $0 / $345 | 90% | $250,000 / $1,000,000 |
|
 State Custodians Mortgage Company Standard Variable Offset Loan | Awarded Mortgage of the Year 2012 – this multi-award winner features 100% offset and a loyalty 0.25% rate drop after 5 years. | 6.02% | 6.23% | $0 / $345 | 95% | $150,000 / $1,000,000 |
|
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