Citibank Mortgage Policy and Existing Loans 2026

Identify the Loan’s Current Provider

NAB is the current provider for the Australian consumer mortgage business acquired from Citi. Citi’s Australian transition information directs transferred customers to NAB. NAB’s 2026 trading update confirms that migration of Citi Consumer Business customers to its systems is complete.

Start with the latest loan statement and the client’s migration correspondence. Match the current loan reference to the former Citi reference, including any separate fixed and variable loan accounts. Record the legal provider, product name and borrowers shown on the current documents.

Keep the former Citibank name in the file history so earlier statements remain understandable. Use the current NAB reference for servicing enquiries and payout instructions. A client calling the loan a Citi mortgage doesn’t make the old account number the correct operational reference.

If the latest statement names a different provider following a later refinance, follow that evidence. The portfolio transfer explains the former Citi loan’s history, while the current statement identifies the debt being assessed.

Existing Terms and Variation Requests

The existing loan’s terms come from its contract, migration notices and subsequent accepted changes. A presently advertised NAB product is a separate reference point. Compare the current rate type, remaining term and repayment basis before recommending a change.

NAB’s home loan management guides cover repayment changes, fixed-rate changes, loan increases and offset accounts. The available action depends on the product the client now holds. Ask NAB to identify the applicable process using the current loan reference and the exact requested change.

Repayment Instructions and Contractual Repayments

Changing a payment instruction can differ from changing the contractual minimum. NAB’s repayment guide explains that recurring transfers stay at the amount the customer sets. They don’t automatically rise when the minimum repayment increases.

Check the scheduled payment against the current minimum, including after a rate change. For a proposed reduction, obtain NAB’s confirmation of the approved minimum before changing the outgoing payment. Keep the confirmation with the servicing record.

Borrower and Security Changes

A request to remove a borrower changes who remains liable for the debt. In its separation guidance, NAB explains that a private agreement between borrowers doesn’t itself bind the bank. NAB assesses proposals for its consent case by case, including the remaining borrower’s financial position.

For a borrower removal, identify the proposed borrowers and any additional borrowing needed to complete the arrangement. For a security change, identify each property to remain, be released or be substituted. Obtain NAB’s assessment requirements before treating either request as an administrative update.

For example, a hypothetical separating couple may agree that one person keeps the home and pays the mortgage. Their agreement alone doesn’t release the other borrower. The file needs the bank’s decision and the documents recording the resulting liability and security position.

Prepare a Refinance File

A refinance file needs the current debt position and evidence of how the loan has been repaid. Collect the records for every loan account being paid out, including accounts the client still identifies by the Citi name.

Keep these items with the assessment:

• Current statements showing borrower names, account references and lender details.
• Transaction history showing repayment conduct and any arrears or payment arrangements.
• Balances and limits for each loan account, with available redraw identified separately.
• The current repayment amount and frequency, interest rate and remaining loan term.
• Fixed-rate expiry information and a current estimate of any early repayment costs.
• Security details, including other loans or guarantees secured by the same mortgage.

The incoming lender sets its evidence requirements. As one lender-specific example, NAB’s application checklist asks for six months of transactions for loans being refinanced. It also requires the records to identify the borrowers, loan account and lender.

If the required history spans a change in account references, retain the statements and correspondence that connect the two records. Explain any missing period so the assessor can follow the same facility through its history.

A statement balance is a starting figure for a refinance estimate. Obtain the settlement payout figure through the discharge process because accrued interest and applicable costs can change the amount needed. Assess the replacement loan against the client’s objectives, including the effect of restarting a longer term.

Confirm the Correct Support Route

Use NAB’s home loan support channel for a transferred Citibank mortgage. NAB’s home loan management page lists 13 78 79 and messaging through NAB Internet Banking or the NAB app. Have the current account reference and the client’s authority ready when making an enquiry on their behalf.

State whether the request concerns an existing repayment, a contract variation or an external refinance. These requests need different evidence and outcomes. Record the response against the relevant loan account rather than applying one account’s answer to every loan the client holds.

For security release, follow the Citibank mortgage discharge procedure using the current provider details. NAB’s mortgage discharge guidance requires a discharge or release form for an external refinance or property release. Keep the acknowledged discharge request and current payout instructions with the settlement file.