One major lender is banking on the flexibility of its home loan products with a new spring campaign.
NAB said its 'Freedom for all' promotion, which lasts until 31 December 2012, was aimed at promoting various elements of flexibility across its range of products to broker customers.
The campaign includes a competition that general manager of broker distribution John Flavell said would give brokers an opportunity to 'start a conversation' with their clients over NAB products.
The competition will see customers who draw down $150,000 or more on a new or existing Homeside or NAB home loan go into the draw to win $40,000 off their home loan.
There will be five winners, one each for the NSW/ACT, VIC/TAS, Queensland, SA/NT and WA regions.
“We want to remind brokers and their customers that Homeside and NAB home loans provide a high level of flexibility to accommodate new financial goals and investment opportunities," Flavell said.
He said brokers could use the campaign as a way to introduce the bank to any clients looking to invest, upgrade or refinance during spring.
Flavell said the campaign highlighted changes that have been made to NAB's loan products.
“The changes we’ve made to our home loans gives customers the flexibility and freedom to change their home loan arrangements as their lives change and to better suit their needs,” he said.
He cited the ability for clients to switch from a variable rate home loan to any other NAB or Homeside home loan without paying a fee, as well as customers being able to pay down their variable rate home loan early without paying any additional fees, with the option of repayment holidays if they are ahead on their repayments.
“No one wants to feel locked into their home loan and with the many benefits offered by NAB, they don’t have to," he said.