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Lender offers $1,500 incentive to switch mortgage providers
Newcastle Permanent is offering home loan borrowers a $1,500 cash payment if they refinance with the building society.
To be eligible for the Newcastle Permanent cashback offer, mortgage borrowers must refinance loans of at least $250,000 that are currently with other lenders.
They must choose a variable interest rate and have a loan-to-value ratio (LVR) no higher than 80 per cent.
The initial loan application must be received by 30 November 2018, and approved and funded by 1 February 2019.
Newcastle Permanent’s Premium Plus Package has a discounted variable rate starting from 3.72 per cent (comparison rate 4.10 per cent) for owner-occupiers paying principal and interest.
At the end of July, the average interest rate of all the owner-occupied, variable, principal-and-interest mortgages listed on RateCity was 4.30 per cent.
Disclaimer
This article is over two years old, last updated on August 22, 2018. While RateCity makes best efforts to update every important article regularly, the information in this piece may not be as relevant as it once was. Alternatively, please consider checking recent home loans articles.
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