How can we help as Strategic Mortgage Brokers?
Here are some ways that we can help as your strategic mortgage broker:
- Refinancing to a lower interest rate or interest-only repayments, especially whilst your income is unchanged.
- Releasing equity to give you cashflow if your income may be affected.
- Debt consolidation to make repayments manageable.
- Advice regarding your mortgage or buying a new property.
Now is the best time in your lifetime to refinance and save yourself interest, increase cash flow and maximise your cash runway.
Call us on 1300 896 045, email your Strategic Mortgage Broker directly or contact us here.
How can we help as a private banking team?
- Help you with extending your Interest only period with the bank and assist you through the process.
- Help you with fixing your loans to get the best of the rates cut offs that have been passed on by RBA.
- Negotiate better discounts from the banks for your loans.
- Contact lender to see what they are offering for mortgage relief.
- Remember, if you ever have any questions or need assistance with your lending, please feel free to contact us anytime. Think of us as your private banker for all of your lending needs.
An update from NAB
NAB Business
- Defer principal and interest for up to six months on a range of business loans, including floating and variable rates, and equipment finance loans, if experiencing financial difficulty;
- Receive a 200-basis point rate cut on new loans and all overdrafts on QuickBiz, effective March 30;
- Receive an additional 100-basis point reduction on variable rates for small business loans, effective March 30. This is on top of a 25-bps reduction earlier this month;
- Access up to $65 billion of additional secured limits to pre-assessed customers, with $7 billion currently available for fast assessment process;
- Access up to $9 billion in additional limits for unsecured lending for existing customers via QuickBiz; and
- Defer business credit card repayments.
Business support loan – To support businesses in need of a quick cash flow injection to stay open and keep people in jobs, NAB has announced a new Business Support Loan. The Business Support Loan will enable eligible businesses to apply for a loan of up to $250,000 at 4.5% p.a. from NAB with no repayments required in the first six months. To be eligible, businesses must have an annual turnover of less than $50 million. Existing NAB Business customers can enquire online or speak directly with their NAB Business Banker. New NAB Business customers should call 13 10 12.
Visit the NAB website for more information.
NAB Personal & Home loans
- Pause home loan repayments for up to six months, if experiencing financial challenges, including a three-month checkpoint. For a customer with a typical home loan of $400,000, this will mean access to an additional $11,006 over six months, or $1,834 per month.
- Access a 10-month term deposit rate of 1.75% p.a. for 10 months, effective March 24. This is for personal customers only, with deposits of $5,000 to $2 million.
- Access fixed home loan rates of 2.39% p.a. for 1 year, 2.29% p.a. for 2 and 3 year, and 2.79% p.a. for 5 year (owner-occupier P&I), effective March 25. First home buyers will have access to a rate of 2.19% p.a., fixed for two years. This delivers reductions of between 10 and 60bps (table below).
- Access over $20bn in redraw and more than $30bn in offset. Note: Around 1 in 2 accounts are at least 6 months ahead based on redraw & offset balance; and 4 in 10 are 12 months ahead.
- Reduce repayments on variable rate loans. Over the past 12 months, reductions of 84bps to our owner-occupier variable rates have provide a potential benefit of $3,360 per year to customers with a $400,000 loan. Most customers have not yet taken the option to reduce their payments.
To talk to someone about how NAB can help, please contact NAB by submitting a request for support online, or contacting the Customer Care teams on:
- Business – 1300 769 650 (Monday to Friday 8am-6pm AEST/AEDT)
- Personal – 1300 683 106 (Monday to Friday 8am-8pm AEST/AEDT; and Saturday 9am-1pm AEST/AEDT).
