NAB Variable Interest Rate

Hello,

Just wondering if one of the loan brokers here could please tell me whether the NAB variable interest rate on their website (see below) differs if you have less than 80% LVR for an existing customer?


NAB Base Variable Rate Home Loan Interest rate Comparison rate
Principal & Interest 3.85% p.a. 3.89% p.a.

I tried contacting NAB to no avail, so was just wondering this. I know they have a special rate of 3.35% p.a. but this only applies to new customer applications.

Thanks in advance.

 

New clients always win . Maybe speak to a broker and get pricing done
if you already have lending with them.

 

Quoting the comparison rate doesn't tell us anything, please quote the advertised rate. Comparison rates don't tell us what variation of the product you're quoting on.

Comparison rates are used to compare the total cost of the loan based on several assumptions. Almost nobody ever aligns with these assumptions.


To try answer the question however, the NAB doesn't officially change rates based on LVRs below 80% (they do have different rates above 80% though).

Unofficially it is possible to negotiate better deals, especially if the LVR is 70% or less, but the NAB usually only negotiates on the Choice package, not the Base variable rate product. LVR isn't the only variable that affects this outcome though.

 

NAB retentions and existing customer pricing is decent, we’ve found them to be the best of the bunch in recent times as they’ve made a public shift in strategy from new biz to retentions (at least with Thorburn when he was head).

Maybe give them a buzz and see what you can get out them first.