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PHOTO: NAB
NAB has caved to funding pressures and hiked home loan rates just months after they said they were keeping their variables rates on hold.
NAB chief Andrew Thorburn said on September 10, “we are listening and acting differently”.
“We need to rebuild the trust of our customers, and by holding our NAB standard variable rate longer, we help our customers for longer,” Mr Thorburn he stated.
NAB is lifting rates by 0.12 per cent for owner occupiers paying principal and interest, and 0.16 per cent for investors and interest only customers, effective 31 January 2019.
The average NAB customer on a discounted variable rate will now pay $25 extra per month, almost $300 annually.
(Source: RateCity.com.au)
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