Premium Plus Package Variable Rate Home Loan (Interest Only) (Amounts < $500k)
- Last updated on 01 Apr 2020
Discount Variable Home Loan
specialRate cut to 2.59% p.a effective on 3 April 2020
Make the move to UBank's award winning home loan
Owner Occupier Discounted Variable Rate
based on $300,000 loan amount for 25 years
- No upfront fees
- 100% full offset account
- Extra repayments + redraw services
- Free redraw facility
- Annual fee charged
- Discharge fee at end of loan
- Repayments may increase if RBA raises rates
Interest rate structure
$150k - $500k
Principal & interest
Loan term range
1 - 30 years
100% offset account
Unlimited extra repayments
Redraw fee: $0
Allows split interest
ACT, NSW, NT, QLD, SA, TAS, VIC, WA
Estimated upfront fees
Minimum SMSF Amount
$0 annual Value+ Credit Card fee, $0 application fee for Personal and Car Loans
Compare and review home loans with similar features
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.
Lender’s Mortgage Insurance (LMI) is an insurance policy, which protects your bank if you default on the loan (i.e. stop paying your loan). While the bank takes out the policy, you pay the premium. Generally you can ‘capitalise’ the premium – meaning that instead of paying it upfront in one hit, you roll it into the total amount you owe, and it becomes part of your regular mortgage repayments.
This additional cost is typically required when you have less than 20 per cent savings, or a loan with an LVR of 80 per cent or higher, and it can run into thousands of dollars. The policy is not transferrable, so if you sell and buy a new house with less than 20 per cent equity, then you’ll be required to foot the bill again, even if you borrow with the same lender.
Some lenders, such as the Commonwealth Bank, charge customers with a small deposit a Low Deposit Premium or LDP instead of LMI. The cost of the premium is included in your loan so you pay it off over time.