Key benefits. Terms and Conditions, and Fees and Charges apply to all NAB products and are available on application. NAB lending criteria applies.

Transcription

1 Digital upfront document signing technology is here! To provide you and your customers a simpler and more efficient home loan experience, we ve partnered with DocuSign to launch digital upfront document signing technology (known as esign in ApplyOnline) a market leading new digital offering and just another way we re helping you accelerate. How does esign work? Digital upfront document signing technology (esign) gives you and your customers the ability to sign the following upfront loan documents, digitally via DocuSign: Broker Declaration form Customer Identity Check Personal Consent form Guarantor Consent form Companies Consent form Rate lock Agreement form Customers will receive an containing a link to the DocuSign website where they can easily complete & sign their upfront documents in minutes. As an added security measure, your customer will also receive an SMS containing a unique authentication code this code is for verification purposes and will need to be entered as it allows your customer to view and sign their documents. In order to use esign for upfront document signing, all parties need to agree to using a digital signature as part of the application process, i.e. yourself (the broker) and all applicants. Key benefits Streamlined no need to physically send documents Efficient documents to customers for them to instantly sign and return Simple easy-to-use technology Convenient customers can sign documents anywhere, anytime, from any device Control ability to monitor at what stage your customers are at in the process

2 Get started today! To make the most of this enhanced digital experience, simply click the Start esign Request button within the Supporting Documents tab in ApplyOnline when starting a new application. Please note: This new digital capability is only available through ApplyOnline, other broker application systems, such as Termenos, do not currently offer this functionality. Where there is more than one applicant, please ensure a unique address and mobile phone number is entered for each applicant in order to be eligible to use the digital upfront document signing (esign) functionality. For full instructions, take a look at this step by step user guide and video. Please contact your BDM or aggregator for more information or support. If you have any questions, please contact your small business BDM

3 How to easily set up linked offset accounts for existing NAB customers In February 2018 we introduced improvements in ApplyOnline to make it easier to setup your customers offset accounts. How to set up an offset account for customers with an existing NAB classic banking account You can fast track the offset setup process for your customer by linking the customer s existing NAB Classic Banking account to their offset arrangements by: 1. Select Opt Out to NAB Classic Banking Account in ApplyOnline. 2. Ensure the 100% Offset field is set to Yes 3. Select Opt Out Reason to Link existing eligible transaction account. 4. Enter the classic Banking account number into the Existing Classic Banking Account to link in Offset Arrangement Please note: The Existing Classic Banking Account to link in Offset arrangement field is mandatory. Please see ApplyOnline screenshot below: Improving the customer experience These changes aim to ensure customers information is captured upfront and offset accounts are linked correctly. If you have any questions, please contact your small business BDM

4 NAB extending Business Options Loan offer until 30 June 2018: 4.5% p.a. standard variable rate and flat loan application fee of $850 Our Small Business offer makes it easier for customers to realise their small business dreams and helps you diversify into commercial lending. For a limited time, we re offering a 4.5% p.a.* standard variable rate and flat loan application fee of $850 for NAB Business Options Loan applications submitted by Saturday 30 June Category Residential Security Commercial Security Loan to Value Ratio Interest Rate Loan to Value Ratio Interest rate Up to 80% 4.5% p.a. Up to 70% 4.5% p.a. Up to 100% 5% p.a. Up to 80% 5% p.a. Loan application $850 (plus standard $30 Monthly Service Fee) fee Loan amount $250,000 - $1,000,000 NAB Business Transaction Account Exclusions Customer must hold their main trading account with NAB to be eligible for this offer Self-Managed Super Funds, Commercial Real Estate Development Lending^ The NAB Business Options Loan NAB s Business Options Loan is a straightforward business loan for up to $1m available for small businesses. It s easy to understand, flexible and can be ideal to help give small businesses a boost in the medium to longterm. Customers can tailor their repayments to suit their business with a choice of Principal and Interest or Interest Only repayments; variable and fixed rates are available Repayments are flexible with a choice of monthly, quarterly, half yearly or annual repayment cycles Terms from 1 to 30 years are available for variable rate and 1 to 10 years for fixed rate (subject to qualifying criteria) An all-up interest rate is available and the product has a simple flat monthly service fee. Eligibility criteria for Business Options Loan and current special offer To take advantage of this great offer for your customers, please consider the following eligibility criteria: The minimum loan amount is $250,000 and the maximum is $1 million No discount or waiver of the Monthly Service Fee (currently $30 a month) is available The Small Business customer must have, or must take up, the NAB Business Fundamentals package by Saturday 30 June 2018 Commercial Real Estate Development and Self-Managed Super Fund loans are excluded Lending criteria, terms and conditions and charges apply (available on application). For more information chat to your BDM today

5 *4.5% p.a. is the interest rate on a standard variable rate NAB Business Options Loans for LVR up to 70% commercially secured or up or 80% residentially secured. Please note we have capacity to go above these LVRs in certain circumstances at this pricing. Please contact your NAB BDM or Banker to discuss further. ^ Commercial Real Estate Development Lending is subject to credit assessment on case by case basis Important information: Information current as at April; 2018, subject to change. Terms and conditions available on application. Subject to standard lending criteria. Terms, conditions, fees, charges and eligibility criteria apply (available on request). This product is only available to approved business customers. Not available for certain industries, loan purposes, transaction and security types including development security (owner occupied allowed); Self-Managed Superannuation Fund and Land Banking; Rural property freehold; and Clearing ATO arrears. Certain restrictions apply to Home Lending as a joint application National Australian Bank Limited ABN AFSL and Australian Credit Licence A /TBNAB2359

6 A new opportunity to talk to your customers about what s next From next week, an exciting new feature allowing NAB home lending customers to view an estimate of their equity range and property value will be available through the NAB mobile banking app. Customers will be able to view and then contact NAB to further discuss the details of their possible equity, or request a call back. This feature will help support customers who may not have thought about how their current property may be able to help them achieve their future financial goals. Managing leads Any leads generated through this feature will be passed on to a customer s preferred broker through our established leads management process. If you have any questions, talk to your BDM today.

7 New offset account options available for customers through NAB s mobile banking app From next week, customers will be able to view, add or change their offset account linked to their home loan through the NAB mobile app. These changes are in real time, so once the customer makes a change it will be visible to them instantly. Providing more self-service options for our customers This feature will provide customers the flexibility to manage their home loan their way, being able to change or add offset details, in their own time. If you have any questions, talk to your BDM today.

8 Changes to the Business Letter of Advice NAB is committed to improving transparency and certainty for small businesses loans and to make contracts simpler and easier for customers to understand. From Monday 30 April 2018, NAB will replace the Business Letter of Advice (BLA) with the Business Letter of Variation (BLV), in line with recommendations by the Australian Small Business and Family Enterprise Ombudsman, Kate Carnell AO (Carnell Report). What is the Business Letter of Variation (BLV) The BLV is a contractual document that requires customers to agree to changes that NAB is making to its customer lending obligations. To ensure that our contractual changes are fair in value, we may need to contact customers (and guarantors where applicable) to obtain their agreement and/or notify the guarantor/s. There may be an increase in instances where NAB seeks signed agreement by customers (and guarantors where applicable) before changes to their BLV take effect, or provision of this document as a means of notification for borrowers or guarantors when making a contract change. Changes and benefits of the Business Letter of Variation Simplification of wording New look and feel to the Cover Letter Inclusion of the account number in the contract for all BLVs, except those for trade facilities; Where the indicator rate type for overdraft products has been changed, there is an indicator rate field in the contract; Reborrow has been replaced with redraw in the contract; Changes to the Farmer s Choice package can now be contracted via a BLV customers will no longer receive a Business Letter of Offer for a variation of this package; 100 security descriptions can now be added, therefore annexures will no longer be required; Addition of specific Conditions Precedent section: Things we need to do The Changes to General conditions section has been removed from the BLV document. What you need to know For BLVs with security variations, the wording in the contract will change from relating to which facility the security does not secure, to which facility the security does secure;

9 If there is a variation to security, this will now be listed in the contract under the heading/s relevant to the change type: Additional security, Release Existing Security (full discharge) or Change in Reliance on Security; The BLV Borrower and Guarantor signature matrix will be automated per product and variation type. It is important that these documents are executed correctly according to the signature blocks on the contract; The fulfilment process remains unchanged. For more information, speak with your BDM today

10 Reminder: April home lending credit policy changes NAB has made changes to some of its home lending policy to ensure we continue to meet our regulatory requirements, provide our customers with a better experience, and provide you with further clarity. The following policies have been updated: Government Payments Lenders Mortgage Insurance (LMI) Rural Security (Land Size/Area Limit) Policy Government Payments Lenders Mortgage Insurance (LMI) Consolidation Rural Security (Land Size/Area Limit) What does this mean? We have updated this policy to: Include Australian Government eligibility criteria Provide an expanded list of Government Pension and Payments types The policy has been updated to include an increase in the Delegated Underwriting Authority (DUA) monetary amount for home loans insured by Genworth. We have updated the policy to include a maximum size / area threshold for Rural Property being used as security for home lending purposes. The maximum size / area threshold is less than 50 hectares (120 acres). Pipeline Management Applications submitted for assessment after pm (AEST) 15 April 2018 will have the new policy applied.

11 NAB Serviceability Calcualtor The current version of the NAB Serviceability Calculator available on nabbroker.com.au is the most up to date. Please ensure you use this version. If you have any questions, please contact your small business BDM