Newcastle Permanent Fixed Rate Home Loan
Finding the right fixed loan rate to suit your needs can take a lot of time. It’s always worth comparing as many different ones as possible to see which best suits your circumstances. One of the best fixed rate home loans in Australia at the moment is the one on offer from Newcastle Permanent.
Who Are Newcastle Permanent?
Newcastle Permanent is a mutual building society. This means that it doesn’t have any shareholders to pay. The profits that the company makes are passed onto its customers as well as put back into the community. It has roots which date back right the way to 1903.
The company has assets that are worth $6.8 billion making it one of the biggest building societies in Australia.
The Newcastle Permanent Fixed Rate Home Loan
At the moment Newcastle Permanent is offering a fantastic low fixed rate home loan that you can lock in for 1,2 or 3 years. The advantage of a fixed rate loan is the fact that you know exactly how much you will be paying each month.
It doesn’t matter if the interest rates rise as you’ll still benefit from the fixed rate amount. For a 2 year fixed rate home loan the interest rate stays at a competitive rate of 5.89%
While the offer applies to fixed rate home loans of 1, 2 and 3 years, there is also a low standard comparison rate of just 6.54%. You can borrow for a maximum of 30 years. Once the fixed rate runs out you will automatically go on to the variable rate. Or you could also choose to go back onto another fixed rate plan.
It’s possible to borrow up to 95% of your home’s value. The great thing about this home loan is the fact that you also get to take a payment holiday if you need to. This is providing that you’ve got additional funds in your account to cover the repayments you’ll be missing. At any time you can choose to make additional payments.
It is these that can be used to fund payment holidays if needed in the future. It definitely makes sense to pay a little more when you can just in case something happens in the future. You could lose your job or suffer an accident which you need to pay out for. If anything were to happen, that extra money you paid in could really come in handy.
There will be an establishment fee of $500. However the good news is that there are $0 ongoing fees that you need to pay. It’s possible to pay both interest and principle or just the interest for up to 10 years. You may also be interested in splitting the loan with another of Newcastle Permanents home loans.
Overall Newcastle Permanent is one of the most respected lenders in Australia. You are guaranteed the best rates and the best customer service too. Why not take a look at the company’s website and see just how you could benefit from this fixed home loan?
Related posts:
- Newcastle Permanent Fixed Rate Home Loan
- Newcastle Permanent Intro Rate Home Loan
- Newcastle Permanent Real Deal Home Loan
- Newcastle Permanent Real Options Home Loan
- Newcastle Permanent Premium Plus Package Home Loan
- Newcastle Permanent Intro Rate Home Loan
- Newcastle Permanent Premium Variable Rate Home Loan
- Newcastle Permanent Home Loans and Mortgages
- Newcastle Permanent Premium Plus Package LOC $750k plus
- Newcastle Permanent Real Equity
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| Home Loan | Details | Interest Rate (p.a.) | Comp Rate^ (p.a.) | App Fee / Ongoing Fee | Max LVR | Min & Max Borrowing | |
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 Illawarra Home Loans Bank Beater Home Loan | A low variable rate, beaten down even further by 0.05% p.a. after 5 years. | 6.07% | 6.35% | $0 / $345 | 90% | $250,000 / $1,000,000 |
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 State Custodians Mortgage Company Standard Variable Offset Loan | Awarded Mortgage of the Year 2012 – this multi-award winner features 100% offset and a loyalty 0.25% rate drop after 5 years. | 6.02% | 6.23% | $0 / $345 | 95% | $150,000 / $1,000,000 |
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