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In 1903, the Newcastle Permanent Building Society was established to provide the people of Newcastle with stability. Since then, Newcastle Permanent has grown to become one of Australia’s biggest building societies with over 50 branches across NSW. Newcastle Permanent is a building society, which means that instead of having customers, it has members. Being a building society, Newcastle Permanent distribute its profits back to its members by way of lower rates and fewer fees.

Newcastle Permanent has won numerous awards including the Money magazine award for cheapest home loan package in the non-bank category and the Smart Investor Blue Ribbon Award for Building Society of the year.

Newcastle Permanent Home Loan Calculator  
Interested in a Newcastle Permanent home loan? RateCity has a suite of calculators that can show you what your repayments would be and how Newcastle Permanent compares to its competitors. Simply plug in your borrowing amount below.

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Newcastle Permanent home loans rates

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Pros:
  • Loans can be bundled with other loan products.
  • Wide range of loan products with flexible features.
  • Some loans offer discounts on the interest rate.
  • Home loans have flexible features.
Cons:
  • Moderate to high interest rates.
  • Limited branch network outside of NSW.
  • Some loans have ongoing fees.
Newcastle Permanent customer service:

Home loan customers at Newcastle Permanent can contact customer support by calling the hotline, submitting an online enquiry or face-to-face in any of the branches.

In addition to Newcastle Permanent ATMs, loan customers have access to fee free withdrawals at over 3,000 Westpac Group ATMs Australia wide.

✓     Customer service centre (phone)

✓     Mobile app

✓     Online banking

✓     Email

✓     Branch

How to Apply

Newcastle Permanent provides potential customers with multiple ways of applying for a home loan. This includes calling the bank, filling in an online enquiry form or visiting a branch. Before applying for a home loan it is advisable to think about how much money you could conceivably borrow given your financial situation and income.

You will also need to provide documentation when applying for a home loan. This may include:

  • Personal identification material.
  • Proof of income – whether you are self-employed or work for an employer.
  • Information regarding your current debts, liabilities and assets including any personal or car loans.

FAQs

They’re impersonal 

Most comparison sites give you information about rates, fees and features, but expect you’ll pay more with a low advertised rate and $400 ongoing fee or a slightly higher rate and no ongoing fee. The answer is different for each borrower and depends on a number of variables, in particular how big your loan is. Comparisons are either done based on just today or projected over a full 25 or 30 year loan. That’s not how people borrow these days. While you may take a 30 year loan, most borrowers will either upgrade their house or switch their home loan within the first five years. 

You’re also expected to know exactly which features you want. This is fine for the experienced borrower, but most people know some flexibility is a good thing, but don’t know exactly which features offer more flexibility than others. 

What is the flexibility score?

Today’s home loans often try to lure borrowers with a range of flexible features, including offset accounts, redraw facilities, repayment frequency options, repayment holidays, split loan options and portability. Real Time Ratings™ weights each of these features based on popularity and gives loans a ‘flexibility score’ based on how much they cater to borrowers’ needs over time. The aim is to give a higher score to loans which give borrowers more features and options.

They’re not always timely

In today’s competitive home loan market, lenders are releasing new offers almost daily. These offers are often some of the most attractive deals in the market, but won’t get rated by traditional ratings systems for up to a year. 

The assumptions are out of date 

The comparison rate is based on a loan size of $150,000 and a loan term of 25 years. However, the typical loan size is much higher than that. Million dollar loans are becoming increasingly common, especially if you live in metropolitan parts of Australia, like Sydney and Melbourne. It’s also uncommon for borrowers to hold a loan for 25 years. The typical shelf life for a home loan is a few years. 

The other problem is because it’s a percentage, the difference between 3.9 or 3.7 per cent on a $500,000 doesn’t sound like much, but equals around $683 a year. Real Time Ratings™ not only looks at the difference in the monthly repayments, but it will work out the actual cost difference once fees are taken into consideration. 

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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.

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