Newcastle Permanent
Premium Plus Package Credit Facility
8.44%
Interest rate
8.75%
Comparison rate
Ratings
LVR options
LVR is an acronym for Loan-To-Value Ratio. The LVR is the amount you are borrowing against the property value being used as security, represented as a percentage.
Newcastle Permanent Premium Plus Package Credit Facility does not offer tier pricing for lower LVR. With Premium Plus Package Credit Facility, you can borrow upto $80% LVR.
80%
LVR
Newcastle Permanent
Repayment options
Interest only loans have traditionally been tailored to investors so they can reduce their mortgage repayments and maximise their tax benefits and overall return on investment (ROI). However, getting home loan with interest only (IO) has its place and some lenders are willing to consider your application if you can provide valid reasons.
Tips: To get approved for an interest only home loan you need to have a strong enough income to afford principal and interest (P&I) repayments once your interest only term expires. Sometimes extending your interest only period can be tough and getting approved for a P&I refinance is a lot easier.
Paying pricinpal and interest
Newcastle Permanent
Paying interest only
Newcastle Permanent
Q&As
Does Newcastle Permanent Premium Plus Package Credit Facility comes with an offset account?
No, Premium Plus Package Credit Facility does not come with an offset account.
While it does not have the convenient that comes with an offset account, but $Premium Plus Package Credit Facility comes with a redraw facility. A redraw facility works similar to an offset account. If you put the same amount into home loan as extra repayments, your interest bill will reduce by the same amount, but still have access those extra funds if you need them later.
What are the costs to apply for Newcastle Permanent Premium Plus Package Credit Facility?
There is no upfront costs to apply for Premium Plus Package Credit Facility, but it comes with ongoing account fees of $395 per year.
- Annual fee: $395 per year
Are there costs when I exit or refinance to another lender?
Newcastle Permanent charge a discharge fee of $250, which covers the cost for removing the mortgage that has been registered on the title of your property.
IMPORTANT: Lenders change their policy from time to time so this information is current only accurate at the time that it was written. You should always check with Newcastle Permanent or a mortgage broker just to be sure. This information should be used as a guide only.