Newcastle Permanent home loans

Newcastle Permanent
Newcastle Permanent's overall rating for home loans

(as rated by the Mozo community)

8.5 / 10

based on 80 reviews

As one of the largest building societies in Australia, Newcastle Permanent has over 320,000 customers and 900 dedicated staff. With more than 110 years experience providing financial services to Australians, it has a range of home loans to suit every borrower's needs. 

In fact, its home loans offer exceptional value and for this reason Newcastle Permanent was named Home Lender of the Year in the Mozo Experts Choice Home Loan Awards 2016.

While you don’t have to live in Newcastle to be able to sign up for a home loan with Newcastle Permanent, you must be prepared to do your banking entirely online or over the phone.

Top 5 home loans 2015

Rates and fees verified as correct at 07 December, 2016. Other information correct at the time of writing.

What home loans do Newcastle Permanent offer?

Fixed Rate Home Loans Fixed Rate Home Loans

Owner occupiers and investors after repayment certainty can lock in a rate for a fixed term starting from 1 year up to a period of 10 years. With a fixed home loan from Newcastle Permanent, there are plenty of opportunities to save money with no ongoing service fees and an extra repayments facility which allows you to make up to $25,000 in additional repayments each year. The fixed rate is available on loans starting from $5,000 and you can borrow up to 95% of the property’s value.

Home loan repayments calculator
years
Product Fixed 3 year rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡  

3.99% p.a.

4.73% p.a.

$0.00

$595

3.99% p.a.

4.73% p.a.

$0.00

$0

Go to site

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Variable Rate Home Loans Variable Rate Home Loans

Newcastle Permanent have a great range of variable loan products suitable for a wide range of borrowers. You can borrow up to 95% of the property’s value and there is a choice between principal and interest or interest only payments. With a variable home loan from Newcastle Permanent, you’ll be able to make unlimited additional repayments whenever you can and take advantage of other flexible features such as repayment holidays and a redraw facility (fees may apply). To help you save on interest a partial offset account is available with most of the variable loans offered by Newcastle Permanent and there is a full offset account when you choose its Premium Variable Home Loan option.

Home loan repayments calculator
years
Product Rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

4.30% p.a. variable for 36 months and then 4.55%

4.48% p.a.

$0.00

$0

5.17% p.a.

5.21% p.a.

$0.00

$595

5.17% p.a.

5.17% p.a.

$0.00

$0

4.55% p.a.

4.59% p.a.

$0.00

$595

4.95% p.a.

4.99% p.a.

$0.00

$595

4.95% p.a.

4.95% p.a.

$0.00

$0


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Variable Package Home Loan Variable Package Home Loan

There are two variable rate package loans from Newcastle Permanent including a discounted option available on loans of $150,000 or more and the premium plus package available on loans starting from $5,000. For a yearly service fee, you’ll be able to make use of a number of flexible features including an extra repayments facility, repayment holidays and an offset account. Redraws are fee free and you can choose a repayment frequency to match your pay cycle - weekly, fortnightly or monthly.

Home loan repayments calculator
years
Product Rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡  

3.74% p.a.

4.12% p.a.

$395.00 yearly

$0

Go to site

4.27% p.a.

4.66% p.a.

$395.00 yearly

$0

4.47% p.a.

4.85% p.a.

$395.00 yearly

$0

4.42% p.a.

4.80% p.a.

$395.00 yearly

$0

4.32% p.a.

4.71% p.a.

$395.00 yearly

$0

4.47% p.a.

4.85% p.a.

$395.00 yearly

$0


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Line of Credit Line of Credit

The Real Equity Line of Credit gives owner occupiers and investors access to the equity in their property to fund long term goals such as buying an investment property or renovating. This line of credit loan is available from $5,000 and allows you to draw upon up to 90% of the property’s value. There are no set repayments and you’ll only be required to pay interest on your debit balance. There is also a monthly service fee to consider.

Product Rate Comparison Rate* Service fee Upfront fee

5.15% p.a.

n/a

$10.00 monthly

$595

5.15% p.a.

n/a

$10.00 monthly

$0

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Newcastle Permanent home loan features in a glance

Extra repayments facilityExtra repayments facility

In addition to paying off your home loan regularly, you can make additional repayments whenever you want with the extra repayments facility available with Newcastle Permanent’s variable, package and fixed home loans (capped at $25,000 p.a. for fixed option).

No ongoing service feesNo ongoing service fees

Newcastle Permanent rewards its home loan customers with fixed and variable home loans free of ongoing service fees. However if you opt for a package or line of credit home loan, an ongoing service fee applies.

DiscountsDiscounts

On top of competitive home loan rates, Newcastle Permanent have a discounted rate option for borrowers looking for a variable home loan or a package deal (conditions apply).

Repayment holidaysRepayment holidays

If you ever find yourself in a scenario where you’ll have less income coming in, you can opt to take a repayment holiday on any one of the variable home loans from Newcastle Permanent. Just note you can only use this feature if you’re ahead on your loan repayments.

How are Newcastle Permanent home loans rated?

So you’ve read what we have to say, now check out how real customers feel about their Newcastle Permanent home loans on everything from cost and features to customer service and convenience. Mozo’s rate and review section has collected plenty of customer reviews for you to read here.

Newcastle Permanent home loans

Overall 8.5*

Price

Features

Customer service

Convenience

Trust

80 Reviews

* Overall rating based on reviews in the past 12 months.

Recent Newcastle Permanent home loan reviews Recent Newcastle Permanent home loan reviews

Newcastle Permanent

Newcastle Permanent home loan review

Overall rating   8 / 10

Is better than the big banks

This home loan provider provides competitive rates to better the so called big four banks.

Full review

This home loan provider provides competitive rates to better the so called big four banks.

    Price   7 / 10

    Features   7 / 10

    Customer service   8 / 10

    Convenience   7 / 10

    Trust   8 / 10

Less

Emmanuel (NSW), reviewed 5 months ago

Newcastle Permanent

Newcastle Permanent Premium Variable Home Loan (Owner Occupier) home loan review

Overall rating   10 / 10

Best bank available for your home loan.

A friend recommended NP to us 20 yrs ago and we have never looked back. It is the best and most reliable bank and we have been happy with them from day one of getting our mortgage. I will always recommend this bank to our friends and family.

Full review

A friend recommended NP to us 20 yrs ago and we have never looked back. It is the best and most reliable bank and we have been happy with them from day one of getting our mortgage. I will always recommend this bank to our friends and family.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Tina (NSW), reviewed 8 months ago

Newcastle Permanent

Newcastle Permanent Discounted Real Deal Home Loan (Owner Occupier) home loan review

Overall rating   8 / 10

Great rates and helpful friendly staff

Newcastle Permanent have always been extremely helpful and convenient whether applying for our first home loan, making life changes and adjusting loans or borrowing extra funds.

Full review

Newcastle Permanent have always been extremely helpful and convenient whether applying for our first home loan, making life changes and adjusting loans or borrowing extra funds.

    Price   7 / 10

    Features   7 / 10

    Customer service   9 / 10

    Convenience   9 / 10

    Trust   9 / 10

Less

Karen (NSW), reviewed 8 months ago

Newcastle Permanent

Newcastle Permanent home loan review

Overall rating   7 / 10

Good

Good in terms of customer service. Bad in terms of flexibility.

Full review

Good in terms of customer service. Bad in terms of flexibility.

    Price   7 / 10

    Features   5 / 10

    Customer service   5 / 10

    Convenience   5 / 10

    Trust   5 / 10

Less

Bishnu (NSW), reviewed 10 months ago

Newcastle Permanent

Newcastle Permanent home loan review

Overall rating   5 / 10

Not a good product

I thought this Building Society would not be as greedy as the banks and I was wrong, I would not choose them again.

Full review

I thought this Building Society would not be as greedy as the banks and I was wrong, I would not choose them again.

    Price   -1 / 10

    Features   5 / 10

    Customer service   5 / 10

    Convenience   3 / 10

    Trust   5 / 10

Less

Ellen (NSW), reviewed 12 months ago

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Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

* The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a home loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years, and applies only to this example. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

‡ Results from this calculation are estimates only as individual lenders apply different formulas. Actual repayments will depend on your individual circumstances and interest rate changes.

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers.

What do you need to apply for a Newcastle Permanent home loan? What do you need to apply for a Newcastle Permanent home loan?

There are plenty of docs you’ll need to prepare before applying for a home loan with Newcastle Permanent. Have a look at this helpful home loan application checklist to get started:

  • Identification such as an Australian passport, Drivers Licence, Photo ID Card.
  • Income details i.e. recent payslip and group certificate/PAYG summary or if self-employed last two financial years financial statements and tax returns, full monthly rental statement, letter from Centrelink.
  • Evidence of deposit funds including last six months savings account statements, receipt for deposit paid to Real Estate Agent or Builder, FHOG application form.
  • Details of Liabilities e.g. most recent statements for all loans and credit cards.
  • Details of property i.e. copy of contact if purchasing or copy of land rates notice and copy of Builders Tender if constructing.
  • If you’re opting to refinance your loan, you’ll need the last 6 months of loan statements and latest statement for credit card(s).
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