8.5 / 10

based on 1120 reviews as rated by Mozo community

Newcastle Permanent home loans

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 2019, Newcastle Permanent picked up a number of Mozo Experts Choice Awards for their home loans - including best Fixed Rate Home Loan, best Investor Fixed Home Loan, best First Home Buyer Loan and best Investor Home Loan. 

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.

What home loans do Newcastle Permanent offer?

Rates and fees verified as correct at 31 October, 2020. Other information correct at the time of writing. Advertiser disclosure.

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 ‡  

3.09% p.a.

4.31% p.a.

$0.00

$0

2.59% p.a.

3.86% p.a.

$0.00

$0

2.89% p.a.

4.25% p.a.

$0.00

$0

2.39% p.a.

3.77% p.a.

$0.00

$0

Go to site

3.19% p.a.

4.59% p.a.

$0.00

$595

3.19% p.a.

4.26% p.a.

$0.00

$595

2.99% p.a.

4.54% p.a.

$0.00

$595

2.99% p.a.

4.21% p.a.

$0.00

$595

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 ‡  

4.09% p.a.variable for 36 months and then 4.34% p.a.

4.31% p.a.

$0.00

$595

3.60% p.a.variable for 36 months and then 3.82% p.a.

3.80% p.a.

$0.00

$595

4.96% p.a.

4.96% p.a.

$0.00

$0

4.47% p.a.

4.47% p.a.

$0.00

$0

4.74% p.a.

4.74% p.a.

$0.00

$0

4.25% p.a.

4.25% p.a.

$0.00

$0

2.99% p.a.

2.99% p.a.

$0.00

$0

2.59% p.a.

2.63% p.a.

$0.00

$0

Go to site

2.99% p.a.

3.03% p.a.

$0.00

$0

4.39% p.a.variable for 36 months and then 4.64% p.a.

4.61% p.a.

$0.00

$595

3.94% p.a.variable for 36 months and then 4.19% p.a.

4.16% p.a.

$0.00

$595

4.81% p.a.

4.81% p.a.

$0.00

$0

5.04% p.a.

5.08% p.a.

$0.00

$595

4.59% p.a.

4.63% p.a.

$0.00

$595

2.99% p.a.

3.14% p.a.

$0.00

$595

2.99% p.a.

3.03% p.a.

$0.00

$595

Fixed Package Home Loan

Home loan repayments calculator

years

Product Fixed 3 year rate Comparison Rate Service fee Upfront fee Monthly repayments ‡  

2.99% p.a.

4.18% p.a.

$395.00 yearly

$0

2.49% p.a.

3.68% p.a.

$395.00 yearly

$0

2.89% p.a.

4.15% p.a.

$395.00 yearly

$0

2.39% p.a.

3.66% p.a.

$395.00 yearly

$0

Go to site

3.09% p.a.

4.42% p.a.

$395.00 yearly

$0

3.09% p.a.

4.09% p.a.

$395.00 yearly

$0

2.99% p.a.

4.39% p.a.

$395.00 yearly

$0

2.99% p.a.

4.07% p.a.

$395.00 yearly

$0

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 ‡  

3.34% p.a.

3.75% p.a.

$395.00 yearly

$0

3.31% p.a.

3.70% p.a.

$395.00 yearly

$0

2.94% p.a.

3.34% p.a.

$395.00 yearly

$0

Go to site

4.26% p.a.

4.65% p.a.

$395.00 yearly

$0

4.21% p.a.

4.60% p.a.

$395.00 yearly

$0

4.11% p.a.

4.50% p.a.

$395.00 yearly

$0

4.06% p.a.

4.45% p.a.

$395.00 yearly

$0

3.77% p.a.

4.17% p.a.

$395.00 yearly

$0

3.72% p.a.

4.12% p.a.

$395.00 yearly

$0

3.62% p.a.

4.02% p.a.

$395.00 yearly

$0

3.57% p.a.

3.97% p.a.

$395.00 yearly

$0

3.26% p.a.

3.67% p.a.

$395.00 yearly

$0

3.26% p.a.

3.67% p.a.

$395.00 yearly

$0

4.56% p.a.

4.94% p.a.

$395.00 yearly

$0

4.51% p.a.

4.89% p.a.

$395.00 yearly

$0

4.41% p.a.

4.79% p.a.

$395.00 yearly

$0

4.36% p.a.

4.75% p.a.

$395.00 yearly

$0

4.11% p.a.

4.50% p.a.

$395.00 yearly

$0

4.06% p.a.

4.45% p.a.

$395.00 yearly

$0

3.96% p.a.

4.35% p.a.

$395.00 yearly

$0

3.91% p.a.

4.31% p.a.

$395.00 yearly

$0

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

4.94% p.a.

n/a

$10.00 monthly

$0

4.94% p.a.

n/a

$10.00 monthly

$595

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

‡ 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.

Newcastle Permanent home loan features in a glance

Image of coins

Extra 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).

Free icon

No 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.

Image of coins

Discounts

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 Icon

Repayment 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?

Mozo users have rated Newcastle Permanent home loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of home-loans
Newcastle Permanent home loans
Overall
8.6/10
Price
Features
Customer service
Convenience
Trust

217 Reviews

Recent Newcastle Permanent home loan reviews

Newcastle Permanent Real Deal Home Loan review
Overall 7/10
Very fair product

Overall this is a good bank and good product.

Read full review

Overall this is a good bank and good product.

Price
8/10
Features
2/10
Customer service
4/10
Convenience
10/10
Trust
7/10
Less
Kerrie, New South Wales reviewed about 15 hours ago
Newcastle Permanent Home Loan review
Overall 10/10
Great for home loans with competitive rates.

Easy to deal with. Great rates. Don’t hassle you about their products or annoy you with phone calls. Haven’t ever had a problem with them so far.

Read full review

Easy to deal with. Great rates. Don’t hassle you about their products or annoy you with phone calls. Haven’t ever had a problem with them so far.

Price
10/10
Features
6/10
Customer service
8/10
Trust
10/10
Less
Jasmin, New South Wales reviewed 3 months ago
Newcastle Permanent Fixed Rate Home Loan (Premium Plus Package) review
Overall 9/10
Leading interest rates and friendly staff

The Newcastle Permanent is a strong, trustworthy brand that consistently offers lower rate home loans than the major banks. They do require a higher deposit to start with, and they also work out if you can service the loan more strictly than the banks, but I see these as positives - it means you're definitely not over committing yourself and can make your repayments even if your borrowing capacity is lower than the banks offer. The staff are always friendly too.

Read full review

The Newcastle Permanent is a strong, trustworthy brand that consistently offers lower rate home loans than the major banks. They do require a higher deposit to start with, and they also work out if you can service the loan more strictly than the banks, but I see these as positives - it means you're definitely not over committing yourself and can make your repayments even if your borrowing capacity is lower than the banks offer. The staff are always friendly too.

Price
8/10
Features
6/10
Customer service
8/10
Convenience
9/10
Trust
9/10
Less
David, New South Wales reviewed 5 months ago
Newcastle Permanent Premium Variable Home Loan review
Overall 9/10
Great rates.

We went through a broker for the initial loan but when we have needed to use the local branch they have been very helpful.

Read full review

We went through a broker for the initial loan but when we have needed to use the local branch they have been very helpful.

Price
10/10
Features
8/10
Customer service
9/10
Convenience
8/10
Trust
9/10
Less
Tammy, New South Wales reviewed 11 months ago
Newcastle Permanent Premium Variable Home Loan review
Overall 10/10
Great people.

Great personal service.

Read full review

Great personal service.

Price
9/10
Features
8/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Janette, New South Wales reviewed 12 months ago

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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