Newcastle Permanent home loan review
Newcastle Permanent is an established Australian lender, and Ratesniffers tracks 50 of its home loan products across variable, fixed and interest-only options. Its lowest variable rate Ratesniffers tracks is 5.89% p.a., and its lowest fixed rate is 6.29% p.a. That sits about 30 basis points below the market median of 6.19% p.a., putting it among the more competitive lenders right now.
Is Newcastle Permanent a good home loan lender?
Newcastle Permanent suits New South Wales borrowers who want a customer owned lender with branches, and first home buyers using the government deposit scheme. Ratesniffers checked its published product, fee and scheme pages on 2 Sept 2026. The trade-off is fee shape: the Real Deal loan carries a $595 establishment fee, and the offset sits inside the $395 Premium Plus Package.
What we looked at
Ratesniffers ranked and described this lender from the verified rate snapshot on this page, then read the lender's own published product pages and fee documents listed under Sources below. Sources were checked on 2 Sept 2026. There are no scores, no stars and no user reviews here, only what the lender publishes and what the snapshot shows.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is based on a loan of $150,000 over a term of 25 years.
The information provided on this site is general in nature and does not take into account your objectives, financial situation or needs. Before acting on any information, consider whether it is appropriate for you and read the relevant Credit Guide and lender disclosures.
Newcastle Permanent home loan interest rates by term
The lowest owner-occupier, principal and interest rate Newcastle Permanent has published per term, from the same rate snapshot as the panel above.
| Term | Interest rate | Comparison rate |
|---|---|---|
| Variable | 5.89% p.a. | Not available |
| 1-year fixed | 6.29% p.a. | Not available |
| 2-year fixed | 6.29% p.a. | Not available |
| 3-year fixed | 6.39% p.a. | Not available |
The case for
- Its sharpest variable rate sits below the market median of 6.19% p.a. in the rate snapshot on this page.
- The Real Deal Home Loan has nil monthly and annual fees, allows extra repayments and split loans, offers fee free online redraw, and starts from a $50,000 loan.
- The Premium Plus Package costs $395 a year with nil establishment and monthly fees, and includes a 100% interest offset account, a Value+ credit card with no annual fee and discounts on eligible insurance.
- Newcastle Permanent is an approved lender for the Australian Government 5% Deposit Scheme, from a 5% deposit for eligible first home buyers and 2% for eligible single parents, with no lenders mortgage insurance, and the scheme has carried higher property price caps and fewer eligibility restrictions since 1 October 2025.
- Premium Plus Package Fixed pairs a fixed rate with a 100% offset account, allowing extra repayments up to $25,000 a year and redraw from $500 within that same annual cap.
- It is a customer owned lender, part of Newcastle Greater Mutual Group Ltd under Australian Credit Licence 238273, with a branch network across Newcastle, the Hunter and regional New South Wales.
What to weigh up
- The Real Deal Home Loan carries a $595 establishment fee.
- Fixed rate loans allow up to $25,000 of extra repayments a year, with break costs applying beyond that.
- Its offers exclude refinances from sister brand Greater Bank, since both brands sit inside Newcastle Greater Mutual Group.
- The Premium Plus Package costs $395 a year, so its offset and extras only earn their keep where the balance is large enough to carry the fee.
- Published lending sits under 95% LVR, so a deposit below 5% is out of range outside the government scheme.
Who Newcastle Permanent suits and who it does not
Newcastle Permanent tends to suit New South Wales borrowers, particularly around Newcastle, the Hunter and regional areas, who want customer owned pricing without giving up branches, and first home buyers, since it is an approved lender for the Australian Government 5% Deposit Scheme. It suits less well for a borrower refinancing from sister brand Greater Bank, whose loans its offers exclude, for a fixed rate borrower who wants to prepay more than $25,000 a year, and for anyone who wants an offset without the $395 Premium Plus Package that carries it.
Newcastle Permanent home loans: our verdict
Newcastle Permanent is a credible choice whose lowest variable rate of 5.89% p.a. currently sits about 30 basis points below the market median, which is competitive today (last updated 24 Sept 2026). Whether it's right for you comes down to your deposit, the features you'll use, and how its real approved rate compares, so treat the headline as a starting point, not the final answer.
Sources checked 2 Sept 2026: Newcastle Permanent, Home loans; Newcastle Permanent, Real Deal Home Loan; Newcastle Permanent, Premium Plus Package Variable; Newcastle Permanent, First home buyers. Fees and product terms change, so confirm them with Newcastle Permanent before applying.
See if you can do better than Newcastle Permanent
The advertised rate isn't always the rate you'll be approved for. Compare Newcastle Permanent against the wider panel, or have your scenario negotiated, at no cost.