Major bank raises fixed rates

by Miklos Bolza13 Apr 2017
National Australia Bank (NAB) has announced further changes for residential investor and owner-occupier borrowers, effective from last Friday (7 April).

The rate for NAB’s 1 Year Package Fixed Rate for Residential Investment Home Loan changed to 4.29% p.a. for principal and interest repayments.

For the 1 Year Package Fixed Rate for Interest Only Residential Investment Home Loan, rates changed to 4.39% p.a.

Finally, fixed rates for all other interest only owner occupier and interest only residential investment loans increased by 0.10% p.a.

“We are operating within a dynamic financial, economic and regulatory environment, and it’s important that we regularly review our pricing and policy measures across all of our home loan products to ensure we continue to lend responsibly,” a spokesperson from NAB told Australian Broker.
 
“NAB continues to offer competitive home loan rates to customers. The changes made to our fixed rates on Friday 7 April 2017 apply to new loan accounts only.”

Related stories:

Challenger bank raises investment rates

Credit union halts all new investment lending

Virgin Money increases interest rates

COMMENTS