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.
Newcastle permanent will guide you through applications. If they don’t think that you’re going to make their criteria, they will tell you before the application goes for approval so you do not end up with black marks against your credit score. I have dealt with other lenders in the past and they don’t care about this.
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.
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*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.
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