Newcastle Permanent Premium Variable Rate Home Loan
Newcastle Permanent Premium Variable Rate Home Loan
The Premium Variable Rate option form the home loan choices is specifically aimed at investors and individuals purchasing new properties. Various flexible features exist, which is ideal, as many individuals have unique personal circumstances. Choose between interest only or principle and interest rate options with various repayment frequencies available. Apply for up to 95% of the value of the home and pay a 718% variable interest rate compared to the 7.66% per annum offered in the industry.
Features of the Home Loan
Key features of this home loan are as follows:
- Loan options
- New purchases
- Investments
- 718% variable interest rate
- $0 establishment fee
- No maximum loan amount
- $0 account managing fees
- Up to 95% LVR
- 30 Years maximum loan term
- Flexible repayment frequencies by automatic transfer:
- Once a week
- Every 2nd week
- Once a month
- Interest rate options:
- Principle and interest
- Interest only for a maximum of 5 years
- Extra repayments allowed without penalty
- Lump sum or
- More frequent
- Available split loan combinations including:
- Real Equity Home Loan
- Fixed Rate Home Loan
- Intro Rate Home Loan
- Real Deal Home Loan
- Real Options Home Loan
- Premium Plus Package Home Loan
- Redraw facilities available
- A fee charge for each redraw transaction
- Zero minimum redraw amount
- All funds in advance
- Optional repayment holiday available
- 100% offset account available
- Available loan portability
100% mortgage offset facility is available with this particular loan. This simply means that any interest earned on any other savings is transferred to your home loan, and therefore helps to reduce your home loan account much faster.
However, when additional funds in the home loan account are available, account holders may also apply for repayment instalment holiday when required.
Newcastle Permanent has loan portability features incorporated into their home loans. Simply put, it allows home owners to keep existing loan accounts even when selling and buying a new property, and so reducing any administration which accompanies such events.
Eligibility Criteria
As with any financial institution, certain requirements need to be fulfilled prior to the approval of a home loan. These include:
- Applicants must be at least 18 years old
- Stable residency
- Steady employment
- Good credit record
- Prove of loan repayment feasibility
The following documentation might be required with your application:
- Proof of identification
- Property details:
- Sale of contract
- Title deed copy
- Property plans
- Proof of revenue:
- Passbooks
- Other forms income or savings
- Latest 2x payslips
- Most recent tax return
- Group certificates
- Statements of current liabilities
It is important to note that the above documentation will help determine whether a home loan can indeed be afforded or not.
Final Word
The 100% mortgage offset facility could help account holders settle their home loans at a much faster pace. As with most of the Newcastle Permanent home loans, the Premium Variable Rate option for a home loan is packed with highly flexible features.
Related posts:
- Newcastle Permanent Premium Plus Package Home Loan
- Newcastle Permanent Premium Plus Package LOC $500k – $750k
- Newcastle Permanent Premium Plus Package LOC $750k plus
- Newcastle Permanent Real Deal Home Loan
- Newcastle Permanent Premium Plus Package LOC
- Newcastle Permanent Intro Rate Home Loan
- Newcastle Permanent Intro Rate Home Loan
- Newcastle Permanent Home Loans and Mortgages
- Newcastle Permanent Premium Plus Package $500k – $750k
- Newcastle Permanent Premium Plus Package >$750k
Top Home Loans
| Home Loan | Details | Interest Rate (p.a.) | Comp Rate^ (p.a.) | App Fee / Ongoing Fee | Max LVR | Min & Max Borrowing | |
|---|---|---|---|---|---|---|---|
 Loans.com.au - Dream Catcher | A home loan offer with a $0 application fee and one of the lowest available home loan interest rates. | 5.85% | 6.21% | $0 / $375 | 80% | $50,000 / $750,000 |
 
|
 Bankwest Online Home Loan | A low interest rate home loan with a $0 application fee and ongoing maintenance fees. This offer is exclusively available by applying online. | 5.97% | 5.97% | $0 / $0 | 80% | $100,000 / $1,000,000 |
|
 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 |
|
 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 |
|
Ask A Question