Newcastle Permanent Intro Rate Home Loan
Intro Rate Home Loan from Newcastle Permanent
Take advantage of the additional interest rate discount of 0.70%p.a. offered in the first year with the Real Options Home loan. This home loan offers home owners a comprehensive list of choices, making it highly sought after, and allows individuals to repay the loan off sooner without penalty. It is not only flexible, but has various other options such as splits and redraws attached to it.
Features of the Home Loan
The features offered with this home loan are as follows:
- 0.70% p.a. discount for the first year
- Loan options
- New purchases
- Construction
- Refinance
- Renovations
- Investments
- $500 Establishment fee
- $0 account managing fees
- Up to 95% LVR
- 30 Years maximum loan term
- Flexible repayment frequencies of:
- Once a month
- Once a week
- Every 2nd week
- Automatic transfers
- Interest rate options:
- Interest only for a maximum of 5 years
- Principle and interest
- Additional repayments allowed without penalty
- Regular or
- Lump sum
- Available split loan combinations including:
- Fixed Rate Home Loan
- Premium Plus Package Home Loan
- Real Deal Home Loan
- Real Equity Home Loan
- Redraws available with:
- No minimum amount
- All funds in advance
- Applicable fee apply per redraw
- Optional repayment holiday available
- Partial offset account available
- Available loan portability
Repayment holidays simply mean that a repayment instalment/s may be skipped when pre-arranged with the mortgage lender. In order to qualify for such a holiday, however, existing loans will be required to have additional funds available in the loan account.
Loan portability allows individuals to keep their existing loan even when selling or purchasing a new property. This is particularly beneficial as home owners will not be required to go through the same application hassles.
Eligibility Criteria
In order to qualify for this loan, individuals will be required to prove the following:
- Age: 18 years or older
- Stable residency
- Stable employment
- Good credit record
- Repayment feasibility of loan
Therefore, the following documentation will need to accompany your application:
- Identification documentation (ID)
- Property details:
- Title deed copy
- Property plans
- Sale of contract
- Proof of income:
- Statements
- Passbooks
- Other proof of savings
- 2 Latest payslips
- Latest tax return
- Group certificates
- Statements of current liabilities
Newcastle Permanent adheres to responsible lending practices, and will therefore only approve loans which will be able to be repaid by the client.
Final Word
The Intro Rate Home Loan from Newcastle Permanent is packed with various flexible options to the home owner. The cherry on the cake, however, is the additional discount of 0.75% per annum in interest rate for the first year. This is particularly ideal for homeowners who wish to reduce the loan quicker by paying additional funds into the loan without being penalised for it.
Related posts:
- Newcastle Permanent Intro Rate Home Loan
- Newcastle Permanent Premium Variable Rate Home Loan
- Newcastle Permanent Real Deal Home Loan
- Newcastle Permanent Fixed Rate Home Loan
- Newcastle Permanent Premium Plus Package Home Loan
- Newcastle Permanent Premium Plus Package LOC
- Newcastle Permanent Fixed Rate Home Loan
- Newcastle Permanent Home Loans and Mortgages
- Newcastle Permanent Real Deal Home Loan
- Newcastle Permanent Real Options Home Loan
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