About NAB Home Loans
NAB home loans are offered by National Australia Bank (NAB) which is one of Australia's top banks. It has been in operation for more than 150 years and in 2014, it was ranked 74th in The World's Biggest Public Companies by Forbes.
Besides catering to large businesses' needs and international high-net-worth individuals, the bank also has a core interest in capital and trade flows in markets in Asia, New Zealand and Australia.
NAB is not a stranger to our local banking scene as the company has been present in Singapore since 1981. In the 80s Singapore was developing rapidly as a trading hub and the bank came in time to play an important role in supporting banking and trade movements.
Over the years, NAB witnessed the transformations in the ever changing needs of the financial scene and strives to stay at the very top. Today, the company offers a comprehensive range of products and services for private investors and institutional banking.
NAB Home Loans
NAB offers multi-currency flexible loans to local buyers that are interested in buying properties in Australia and New Zealand. Loan packages come in SGD, AUD, NZD or USD and borrowers have the option of switching the currencies at a designated roll-over date to hedge against any volatile foreign exchange movements.
A choice of either variable or fixed rate loans are available. The maximum loan tenure is up to 25 years. NAB provides a maximum loan quantum of 80% of the purchase/valuation price, subject to the borrower's eligibility, under normal circumstances. A loan of up to 100% of the purchase/valuation price may be considered if the borrower is able to produce sufficient supporting documents.
NAB also offer loan packages and banking needs for individuals who are currently residing in Singapore, but own properties in more than one country. Applicants can manage their home loans in Singapore with the local team at NAB.
NAB Home Loan Eligibility
The minimum loan amount is AUD300,000 (or it's equivalent in other currencies). These home loans only apply to residential projects in Australia or New Zealand.
Rules and regulations of property ownership in Australia and New Zealand apply - borrowers have to qualify for the loan taxation and property ownership regulations in the countries (Australia or New Zealand) where they intend to purchase the property.
NAB will hold a first registered mortgage over the property as security. Borrowers may be required to top up the differences in cases where the minimum loan-to-security ratio is lower than the required mark. The top up amount may come in terms of cash or as a guarantee.
For more information to loan eligibility, refer to the Standard Loan Conditions manual.