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Newcastle Permanent Premium Plus Package Loan

Features

The Newcastle Permanent Premium Plus Package Loan combines a variable rate home loan together with a range of features designed to help you save.

While this home loan has a variable rate, borrowers looking for the best of both worlds can opt to split this loan into both a fixed and variable rate.

This loan offers flexible repayment options including interest-only payments and the choice to repay the loan weekly, fortnightly or monthly. In addition, you have access to a 100 percent offset account and redraw facility. If you’re ahead on your repayments and your circumstances temporarily change, this loan lets borrowers take a repayment holiday for a set period of time.

The main feature of this loan is the ability to package all your financial products together to save on fees and get discounts on other products like insurance, additional interest on savings accounts and potential discounts on other Newcastle Permanent loan products.

Owner-occupiers can borrow up to 95 percent of the property’s value, which is handy for borrowers that haven’t managed to save a full deposit. For loans over 80 percent, you will need to pay lenders mortgage insurance.

This loan offers you a portability feature, which means you can transfer your loan over to a new property if you move. It’s a nice touch which can save you fees in the long run.

Who is the Newcastle Permanent Premium Plus Package Loan good for?

The flexibility that comes with the Premium Plus Package Loan makes this mortgage accessible to a wide range of borrowers. This loans features appeal to both investors and owner-occupiers, specifically the ability to split the loan, pay interest-only and make use of the 100 percent offset account.

Review - What RateCity says

Generally speaking, package loans have the potential to bundle all your accounts together under one annual fee. Aside from the convenience, the main benefit of consolidating is the potential to save on other financial products like personal loans and insurance.

The Newcastle Permanent Premium Plus Package has all the features and flexibility you’d expect from one of the big four.

While the variable interest is still low, there are lower rates on the market. So if you’re looking for a simple low rate loan and don’t need all the bells and whistles then you might not benefit from this loan.

Having said that, if you’ve got a couple of accounts and are currently paying car and home insurance then this package may be worth a look.

Newcastle Permanent Premium Plus Package Loan Options

The Newcastle Permanent Premium Plus Package Loan gives you the chance to save on extra fees by bundling your home loan, credit card and transaction accounts together. Choose a home loan or credit facility that’s right for you.

 

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Fixed Rates from

3.74%

Advertised rate

4.59%

Comparison rate

Variable Rates from

3.64%

Advertised rate

4.03%

Comparison rate
Pros
  • No upfront fees.
  • 100 percent offset facility.
  • Flexible repayment options.
Cons
  • Ongoing annual fee.
  • Discharge fee.
  • Need to open additional accounts.
Eligibility

Provide proof of income.

You must be over 18.

Provide a list of assets and liabilities.

Suitable For
  • First Home Buyers
  • Owner-Occupiers
  • Refinancers
  • Investors
  • Line of Credit Loans
Fees
  • Estimated upfront fees: $0
  • Discharge fees: $250
  • Ongoing fees: $395 annually

The Premium Package Loan has no upfront fee, however the package has an annual fee and a discharge fee when the loan ends. There is no redraw fee for fee for additional payments. 

Features
  • Redraw facility
  • 100% offset account
  • Unlimited extra repayments
  • Weekly repayments
  • Fortnightly repayments
  • Monthly repayments
  • Loan allows split interest rate
About Newcastle Permanent

Newcastle Permanent is a building society, which means that instead of having customers, it has members. It is headquartered in Newcastle, NSW.

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