6. Fees and charges

Interest rates are one component of the cost of a National Bank home loan. There are other incidental fees and charges to be aware of too.

Introduction to this page

This is not intended to be an exhaustive list of National Bank's fees and charges. It is a guide to some of the most common fees related to home lending, and charges relating to common attendances to home loan contracts and mortgage security arrangements. 

• See here for a link to National Bank's home lending fees.

Fees and charges change without notice so, while we try to keep this up to date, you should check the link to National Bank's web site for the latest figures.

Let's start with the free stuff

Unfortunately, there really isn't any genuinely free stuff. 

The monthly account fee for Thoroughbred Flexible covers most electronic banking transactions, but you still pay set up fees and other 'service charges'. 

Some common fees

Some fees are negotiable and depend upon the overall value of the relationship with National Bank. 

1. Loan approval fee: can be up to $500 (owner occupied) or 1% for investment properties - we generally negotiate a nil fee.
2. Loan top up fee: can be up to $250 - again, we generally negotiate a nil fee.
3. Thoroughbred Flexible account fee: $12.50 per month.
   

Other charges that could apply from time to time

These fees mainly relate to alterations to the loan contracts or the mortgage security held for a loan.

1. Fixed rate break costs: National Bank's economic cost recovery may apply.
   
2. Early repayment fee: $100 where the lump sum repayment is up to 5%. $250 where the lump sum is 5% or greater.
3. Low Equity Premium (LEP): May apply to loans over 80% LVR.  National Bank's current lending policy does not extend beyond 80% LVR so this fee seldom applies.  Current LEP rates range from 0.20% to 1.25% of the loan amount.
4. Changes to loan contracts or mortgage securities:  There are many different things that may cause you to want or need to make changes to the loan contracts or the mortgage securities. Some common examples include; transfers of loans from personal name to a family trust, transfers from joint to single loan ownership or vice versa, single loan owner adding a second person to the loan, changes to mortgagors, discharge of the mortgage. Fees for any of these changes generally range between $100 and $250 per item.

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