Newcastle Permanent Real Deal Loan


The Newcastle Permanent Real Deal Loan is a variable loan at a moderate to moderately-high rate, which offers flexibility such as the ability to make interest and principle or interest-only repayments weekly, fortnightly or monthly.

Customers of this loan are also able to make early repayments and redraw these payments from the redraw facility, though redrawing is subject to a fee. This loan also features a repayment holiday, where customers are allowed to take a break from making repayments they are ahead.

There is also the option to split your loan under the Real Deal Loan, so customers can take advantage of the benefits offered by both variable and fixed interest rates.

However, this loan does charge a moderate amount in establishment fees for investment customers only and an average discharge fee for both investors and owner-occupiers at the end of the loan. The Real Deal Loan does not offer a 100 per cent offset account, but does have partial offset account availability.

The Newcastle Permanent Real Deal Loan offers portability if you were to move homes and customers can borrow up to 95 per cent of a property’s value, though there is a minimum loan amount that customers must borrow.

This loan also offers a discounted option, which provides a discount on the standard variable interest rate for an introductory period, which then reverts to the Real Deal Home Loan variable interest rate for owner-occupier loans only. Though the discount option has all the same features as the Real Deal Loan, a high conversion fee applies when your rate reverts.

Who is the Newcastle Permanent Real Deal Loan good for?

While this home loan is good for investors and owner-occupiers, whether purchasing a new home, renovating or refinancing, it’s also good for people who are looking to move during the loan term, as this mortgage is portable.

With the discounted option, this loan is good for first time home buyers or people who need some time at a lower variable rate at the beginning of the loan term.

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The attractive features of this home loan is how flexible it is in allowing customers to split their loan, make extra repayments, take a repayment holiday, pay no ongoing fees, to choose the discounted option and to have mortgage portability.

Customers also have flexibility in how they repay this loan by being able to make interest and principle or interest-only payments either weekly, fortnightly or monthly, which can be a good option for both owner-occupiers and investors.

However, with a moderate to moderately high interest rate, no 100 per cent offset account availability and a high loan/rate conversion fee, it’s worth checking into your circumstances and seeing if this home loan is right for you.

Newcastle Permanent Real Deal Loan Options

Newcastle Permanent offers a few different options under its Real Deal Variable Home Loan. To find out more about these options, click the links below.

Variable Rates from


Advertised rate


Comparison rate
  • Loan split option.
  • Repayment holiday.
  • Discounted option.
  • Moderate-moderately high variable interest rate.
  • No 100 per cent offset account availability.
  • High conversion fee for loan or rate changes.

Must be able to provide proof of income.

Must be over 18 years of age.

Must meet serviceability criteria.

Suitable For
  • First Home Buyers
  • Owner-Occupiers
  • Refinancers
  • Investors
  • Estimated upfront fees: $595.00
  • Discharge fees: $250
  • Ongoing fees: $0

This home loan charges a moderate amount of establishment fees, but only for investors. Both owner-occupiers and investors are subject to an average discharge fee at the end of their loan term but can enjoy being charged no ongoing fees throughout the life of the loan.

While customers of this loan can make early repayments free of charge, there is a fee for every time these payments are redrawn.

There is also a high conversion fee for customers of the Discounted Real Deal Loan if they convert their loan or rate within a certain time period.

  • 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 mutual building society without shareholders, so profits are reinvested to customers and to the community through providing sponsorship programs and supporting kids’ education, healthy lifestyles and family-friendly events, as well as through staff contributions and volunteer work.

Branch locations and ATMs can be found throughout Newcastle with customer service offered in branch and over the phone. Customers can also use internet banking and the mobile banking app.

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