Newcastle Permanent Home Loans

Read on to learn more about some of Newcastle Permanent’s key home loans and features.

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Summary

About Newcastle Permanent

Newcastle Permanent is the second-largest customer-owned bank in Australia and touts itself as an alternative to the big banks. As a customer-owned bank, it doesn’t have any shareholders to pay so it can return its profits to customers and regional communities through competitive interest rates and fees.

Newcastle Permanent has over 300,000 customers and nearly 1,000 staff. As well as home loans it offers personal loans, savings accounts, term deposits, credit cards, insurance and more.

What home loans does Newcastle Permanent offer?

Newcastle Permanent has a wide selection of home loans for both homebuyers and property investors.

Newcastle Permanent home loan interest rates

Newcastle Permanent offers fixed and variable interest rates plus principal and interest and interest-only repayment options.

Here are some of Newcastle Permanent’s most popular home loan products:

  • Real Deal Home Loan: A variable rate home loan that comes with a redraw facility, partial offset account and the ability to postpone repayments
  • Premium Plus Package Fixed: A package fixed rate home loan with benefits like insurance discounts, no credit card fees and no application fees for Newcastle Permanent personal and car loans
  • Premium Plus Package Variable: A variable rate version of the premium plus package that also has a fee-free redraw facility and a 100% offset account
  • Fixed-rate Home Loan: A home loan that allows you to lock in your rate for up to 10 years with no ongoing fees.

You can see the complete list of Newcastle Permanent’s home loan interest rates here.

Newcastle Permanent variable home loan rates

Provider Ad rate
p.a.
Comp rate*
p.a.
Monthly
repayments
 
Real Deal OO Special <90% 3.32% 3.36% $1,756 More details
Real Deal OO Special >90% 3.59% 3.63% $1,816 More details
Real Deal Inv Special <90% 3.59% 3.63% $1,816 More details
Real Deal Inv Home Loan 4.57% 4.61% $2,043 More details
Ad rate
p.a.
Comp rate*
p.a.
Monthly
repayments
Real Deal OO Special <90%
3.32% 3.36% $1,756
More details
Real Deal OO Special >90%
3.59% 3.63% $1,816
More details
Real Deal Inv Special <90%
3.59% 3.63% $1,816
More details
Real Deal Inv Home Loan
4.57% 4.61% $2,043
More details

Base criteria of: a $400,000 loan amount, variable P&I home loans. Introductory rate products were not considered for selection. This table includes only a snapshot of the lender’s products, not all of them. Monthly repayments were calculated based on the selected products’ advertised rates, applied to a $400,000 loan with a 30-year loan term. Rates correct as at 4 October 2019.

Newcastle Permanent home loan features

Newcastle Permanent offers a broad selection of home loan features across select home loans:

  • Additional repayments: You can choose to pay above your minimum repayment to pay off your loan sooner – some loans allow maximum extra repayments of $25,000 per year.
  • Flexible repayment options: You can repay your loan monthly, fortnightly or weekly.
  • Split loan: Newcastle Permanent allows you to split your loan into both fixed and variable portions.
  • Offset account: You can link your home loan to your offset account, helping reduce the interest you need to pay. 100% offset facilities are available.
  • Fee-free redraw access: Newcastle Permanent home loans allow you to access any extra repayments you’ve made when you need it.
  • Repayment holiday: This mortgage feature, available in some Newcastle Permanent home loans, allows you to take a break from repaying your home loan when you experience financial challenges.
  • Reduced product fees: The package products give you access to other Newcastle Permanent products (credit cards, car loans) with $0 annual or application fees.

Note: these features are not included on all Newcastle Permanent home loans.

How to apply for a Newcastle Permanent home loan

Eligibility criteria

Newcastle Permanent has requirements which you need to meet before applying for a mortgage. Generally, you need to:

  • Be above 18 years old
  • Be an Australian resident
  • Be employed or earning a steady income
  • Not have been declared bankrupt

If you’re eligible for a Newcastle Permanent home loan, you may submit your application in your nearest Newcastle brand or by calling 13 19 87. Alternatively, you can hit ‘make an enquiry’ on the relevant home loan page online.

Documents needed

You will be required to provide certain documents when applying for a home loan. Newcastle Permanent will generally need the following:

  • Proof of identification such as your passport, Australian driver’s license, birth certificate or Medicare card
  • Proof of income such as recent payslips or a signed letter from your employer. For the self-employed, you’ll need to provide your full personal and company tax returns for the last two financial years.
  • Other sources of income like rental income or family tax benefit/pension payments
  • A first home owner grant application form if applicable
  • Details of the property you’re buying
  • Savings account statements
  • Asset and liability documents
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