$1,000 Cashback from Your Home Loan @ Newcastle Permanent

80

Go to Deal

ranma241 on 18/03/2015 - 15:09 newcastlepermanent.com.au (208 clicks)
Last edited 18/03/2015 - 15:20 by 1 other user

Switch your home loan to Newcastle Permanent now and score $1,000 cashback*! Plus you could end up with thousands more in your pocket over the life of your loan compared with a ‘big 4’ bank. See for yourself.

Simply refinance your home loan from another financial institution on a loan of $150,000 or above and we’ll deposit the $1,000 to the loan account of the refinanced loan. Apply before 01 May 2015 and settle by 26 June 2015.

This offer is for a limited time only, and right now we have some of the most competitive interest rates in Australia, so switch to customer-owned banking today.

Home loans appear to start from 4.87% comparison rate for a discounted variable rate loan.

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Newcastle Permanent

• 

  [Deactivated] on 18/03/2015 - 15:11

  -2

  not even a 1% saving, this should be in the forums.
  not a deal

• 

  Jack D Price on 18/03/2015 - 15:13

  Mine is already cheaper…. thanks

• 

  Repstar on 18/03/2015 - 15:21

  -5

  The interest rates alone cancel out the $1000 "saving".

  Cheaper elsewhere.

  • 

    ranma241 on 18/03/2015 - 15:28

    +1

    1 Year Fixed Rate at 3.99% where are you going to get that

    • 

      Paul Atreides on 18/03/2015 - 15:35

      what does it change back to after 1 year?

      • 

        [Deactivated] on 18/03/2015 - 15:43

        Our latest rates:

        Rate    Comparison Rate ~
        

        1 Year Fixed Rate 3.99%p.a. 5.21%p.a.
        2 Year Fixed Rate 4.14%p.a. 5.12%p.a.
        3 Year Fixed Rate 4.19%p.a. 5.04%p.a.
        4 Year Fixed Rate 4.39%p.a. 5.02%p.a.
        5 Year Fixed Rate 4.39%p.a. 4.95%p.a.

        http://www.newcastlepermanent.com.au/Personal/HomeLoans/Fixe…

        I dont think anyone in the market can beat the 3yrs fix @ 4.19% (yes, UBank can, but they only do vanilla loans). No way a variable loan is anywhere near 4.19%.

        Definitely a deal.

        I personally think fixed rate is a better indication of a "deal" oppose to variable, because variable changes with little prediction and is based on the lending institution. for example, NAB could the cheapest in variable today, but does not mean they are going to be the cheapest tomorrow.

        Yes. We will go back to variable once the fix it over. That's when we need to look for a cheaper rate else where.

        [ EDIT ]

        i dont think comparison rate is a good indication because it's
        Based on
        - a 25 (maybe 30) years loan term
        Assuming:
        - variable rate does not change for the loan term (after it drops off the fixed rate)

        personally find a good way to compare loans are based on:
        - fees and charges
        - today's rate (assuming we refinance for a best available deal at the time fixed rate expires)

      • 

        [Deactivated] on 18/03/2015 - 15:53

        +3

        @googleyahoo69:
        dont know if anyone will take you seriously with a name like "googleyahoo69"

      • 

        [Deactivated] on 18/03/2015 - 16:00

        +2

        @tuzii:

        No point trolling for the sake of trolling.

        I have contributed my 2 pennies worth for the ozbargain community. Unless someone else can justify a better way to compare loans, I think my username plays little in how valid my comments are.

      • 

        betheball on 18/03/2015 - 17:27

        @googleyahoo69:

        To op first… Put some effort in and list the fees applicable. I quick look tells me there are $800 in app fees and val fee.

        To googley… This is also a 'vanilla' homeloan much like loans.com and ubank which definitely offer a better deal.

        Also, if a bank is offering a lower interest rate for fixed than variable, than where do you think the banks believe the interest rate is going?….. Down! You are not smarter than the bank, full stop.

      • 

        driveahardbargain on 18/03/2015 - 21:48

        @googleyahoo69:
        >
        No way a variable loan is anywhere near 4.19%
        >

        Ummm. Yeah they are. I've got one at 4.08 and one at 4.24%

      • 

        [Deactivated] on 19/03/2015 - 14:59

        @betheball:

        Yes and no. App fees are usually waived through brokers. Applies to NPS.

        Credit unions offer lower rates in general because their funding cost is lower than banks. A physical good is generally cheaper when you buy more. Not the case with interest rates. The more a organisation borrow reduces their rating and increases the cost of funding.

        4.19 3yr fix, is lower than the variables offered by the banks (after 1-1.3 percent discount. The question is, do you think it will go lower than 4.19. The banks are predicting the rate like all of us and could get it wrong too. So banks do not hold all loans on their books, they onsell to hedge. This will reduce their exposure (on the hedged portion) when they bet wrong.

        I think you have misinterpreted what a vanilla loan is. For example, Ubank does not write loans with guarantors whilst NPS does.

        I am not smarter than the banks, but I would like to shop smarter.

• 

  congo on 18/03/2015 - 15:59

  +1

  NAB gave me $1K for signing up with them as well.

  • 

    [Deactivated] on 18/03/2015 - 16:01

    STG (incl BoM and BSA) and WBC previous offered the same campaign as well.

    EDIT: Similar, not the same.

• 

  wizedz on 18/03/2015 - 16:08

  +1

  Remember banks will charge discharge mortgage fees too, need to factor that in. Usually a few hundreds.

  • 

    f4te on 18/03/2015 - 16:27

    Plus Government fees too.