Newcastle Permanent key facts
- Newcastle Permanent's fixed package home loans are its most competitive rates.
- Newcastle Permanent has online banking and branches across NSW.
- You need a 20% deposit for some Newcastle Permanent home loans, but it does have options for borrowers with smaller deposits.
Review by our senior home loans writer Richard Whitten
Do you do reverse mortgages? My son is wanting to do major repairs to his home and has asked if my husband and I could get a reverse mortgage. We currently owe $21,000.00 on our home which is valued at about $750,000. We would be needing a reverse mortgage for $100,000.00.
Hi Lesley,
Thanks for your comment and I hope you are doing well.
Newcastle doesn’t offer reverse mortgages at this time. You may instead refer to our list of reverse mortgages. You will find a table that compares the features and benefits of each home loan provider such as max loan rate, interest and etc. This way it will be easier for you to see which provider fits you best. You can also click the compare box beside each loan option and compare up to 4 options side by side for easier comparison. We recommend that you seek financial advice and evaluate all of your options to ensure that you make a decision that’s right for your own individual circumstances. Remember, it is important to read the information provided by the lenders such as their terms of use, privacy policy, and disclosures before making any decisions.
It is also a good idea to speak to a mortgage broker to get professional, personalized advice. Mortgage brokers are professionals who sort through hundreds of loans in the market so borrowers don’t have to. A mortgage broker’s service is usually free because they earn a commission from the lender. A good mortgage broker can make life easier and they can help borrowers in difficult circumstances to find a home loan that matches their situation.
Hope this helps and feel free to reach out to us again for further assistance.
Cheers,
Nikki
I wish to purchase a property at Batlow NSW the question I have is with $50,000 cash and the property being 130,000 will you lend a 60 year old person on the DSP pension money for a home loan.
Hi Josephine,
Thanks for your question.
These types of applications are usually handled on a case by case basis. Newcastle Permanent will have a look at how much you receive from DSP pension and how permanent the payment is. I’d recommend that you get in touch with them directly to discuss your options and eligibility.
Cheers,
Shirley
my husband and i are both 52 this year and looking at better home loan. we are currently with NAB on a variable rate of 5.42%. we are looking at selling our home in the next 2 years , we wish to rebuild and invest in another property . we are self employed since 1994 . which home loan would you recommend
Hi Tamar,
Thanks for the question.
You may refer to our guide on refinancing home loan to learn more about your options and decide on a good home loan.
I also recommend getting in touch with a licensed mortgage broker. A broker can help you understand your financial position and they can leverage their panel of networks to find a lender that is more inclined to review your application.
I hope this helps,
Marc