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Summer Refinance Special: 3.99%p.a. (CR 4.35%p.a.) Variable with up to $2000 Cashback @ Naritas

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Summer refinance special: 3.99%p.a. (CR 4.35%p.a.) variable with up to $2000 cashback!

For a limited time only let Naritas help you make the switch to Newcastle Permanent

Refinance your existing owner occupied loan from another financial institution to Newcastle Permanent by 30/04/2016 using Naritas and you could get a great rate on your mortgage & cashback.

Home Loan rates:

  • Premium Plus Variable rate from 3.99% p.a.* CR 4.35%† p.a.
  • 1 year fixed rates from 3.79%p.a. * CR 5.01†
  • 2 year fixed rates from 3.89%p.a.* CR 4.91†
  • 3 year fixed rates from 3.99%p.a.* CR 4.84†
  • 5 year fixed rates from 4.49%p.a.* CR 4.88†

Sample of fees & charges:
* $48 application fee.
* $0 annual fee for fixed rate products.
* $375 annual fee for Premium Plus 100% offset variable.
* Fixed rates revert to standard variable at the end of the fixed term but can be switched to a Premium Plus variable (with the applicable discount) or refixed at $0 cost.
Further details on NPBS fees and charges available here

NB: This offer is primarily aimed at owner occupier borrowers, however, we can often offer the same pricing and rebates to investment borrowers if the majority of their loan collateral is related to their principal place of residence (PPOR). Lender terms & conditions will apply.

The Cashback Payment offer:

  • If you’ve got an owner occupied home loan with a loan size of $250,000-$399,000 you could get $1,000 cashback^ by switching to Newcastle Permanent using Naritas.
  • If you’ve got an owner occupied home loan with a loan size of $400,000+ you could get $2,000 cashback ^^ by switching to Newcastle Permanent using Naritas.

See how much you could save when you switch to Australia’s Home Lender of the Year 2015.

Newcastle Permanent has some of the most competitive loans in the country, and you could qualify for their special packaged home loan discount rate if you have:
*More than 10% equity, or
*Minimum home loan of $250,000

Newcastle Permanent’s Premium Plus Package comes with a 5-star Canstar rating and a range of great features:

^Newcastle Permanent Cashback Terms & Conditions:
1. This offer is provided by Newcastle Permanent Building Society Ltd ABN 96 087 651 992 of 307 King Street Newcastle NSW 2300 (“NPBS”).
2. This offer commences 25 January 2016 and closes 30 April 2016 (“Offer Period”).
3. This offer is open to Australian residents only, including employees of NPBS and their immediate family.
4. A payment under the Summer 2016 Cashback Offer (“Cashback Payment”) will be paid for residentially secured owner occupied home loans refinanced from another financial institution to NPBS during the Offer Period subject to conditions 5 to 15 below.
5. A borrower must refinance to NPBS a residentially secured owner occupied home loan from another financial institution to be eligible for the Summer 2016 Cashback Offer. A borrower’s loan application in conjunction with this Summer 2016 Cashback Offer will be subject to NPBS’s usual credit assessment and approval processes.
6. The Cashback Payment is $1,000 where as a result of a refinance under the Summer 2016 Cashback Offer, the total loan refinanced, either jointly or individually with NPBS is $250,000 or more.
7. The initial loan application must be received during the Offer Period.
8. The approved loan must be funded by 30 June 2016.
9. A borrower is eligible for a Cashback Payment only once during the Offer Period. Once a loan application that is eligible for a Cashback Payment is received, no further loans which include that borrower, jointly or individually will be eligible for a Cashback Payment.
10. Fees and charges apply to loans taken out under this Summer 2016 Cashback Offer. Refer to the Facts for Mortgage Loans Fees and Charges brochure or the Mortgage Loan Schedule for details.
11. The Cashback Payment will be deposited to the loan account for the refinanced loan after the settlement date. The Cashback Payment will not be made to the borrower in “cash” (i.e. notes and/or coin) or cheque.
12. A borrower cannot transfer or assign their right to the Cashback Payment to any other person.
13. NPBS accepts no responsibility for any tax implications that may arise from the Summer 2016 Cashback Offer. The borrower should seek their own independent advice in this regard.
14. Participation in the Summer 2016 Cashback Offer is deemed acceptance of these terms.
15. NPBS reserves the right to amend these terms and conditions at any time.

^^Naritas Finance Cashback Terms & Conditions:
1. This offer is provided by Naritas Finance Pty Ltd ABN 74 096 341 061 of Level 1, 357 Military Road, Mosman, NSW, 2088 (“Naritas”).
2. This offer commences 25 January 2015 and closes 30 April 2016 (“Offer Period”).
3. This offer is open to Australian residents only.
4. A payment under the Cashback Offer (“Cashback Payment”) will be paid for residentially secured home loans settled during the Offer Period subject to conditions 5 to 15 below.
5. A borrower must refinance or purchase using Naritas to arrange a NPBS Home Loan to be eligible for the Cashback Offer. A borrower’s loan application in conjunction with this Cashback Offer will be subject to NPBS’s usual credit assessment and approval processes.
6. The Cashback Payment is $1,000 where as a result of a refinance under the Summer 2016 Cashback Offer, the total loan refinanced, either jointly or individually using Naritas is $400,000 or more.
7. The initial loan application must be received during the Offer Period.
8. The approved loan must be funded by 30 June 2016.
9. A borrower is eligible for a Cashback Payment only once during the Offer Period. Once a loan application that is eligible for a Cashback Payment is received, no further loans which include that borrower, jointly or individually will be eligible for a Cashback Payment.
10. Fees and charges apply to loans taken out under this Cashback Offer. Refer to the Newcastle Permanent Facts for Mortgage Loans Fees and Charges brochure or the Mortgage Loan Schedule for details.
11. The Cashback Payment of will be deposited to the loan account for the refinanced loan after the settlement date. The Cashback Payment will not be made to the borrower in “cash” (i.e. notes and/or coin) or cheque.
12. A borrower cannot transfer or assign their right to the Cashback Payment to any other person.
13. Naritas accepts no responsibility for any tax implications that may arise from the Cashback Offer. The borrower should seek their own independent advice in this regard.
14. Offer not available in conjunction with any other Naritas promotional offer.
15. Participation in the Cashback Offer is deemed acceptance of these terms.

*Special Discounted Rate applies to minimum loan size of $250,000 or Loan to Value Ratio under 90% (more than 10% equity) for owner occupied residentially secured home loans. Terms and conditions apply.

† The Comparison Rate is calculated on a loan amount of $150,000 for a term of 25 years based on monthly repayments. WARNING: This Comparison Rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different Comparison Rate.

Naritas Finance Pty Ltd ACN 096 341 061, Australian Credit Licence 441723

Referral Links

Referral: random (1)

Both referrer and referee receive a $50 Woolworths eGift card when referee's loan is settled.

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closed Comments

  • +2

    My favourite credit provider with truly one of the market's best rate. (even without the $1 or $2k cashback).

    Down side, NPBS is more strict than the big 4s (hence cheap rates as a result of lower risk lending portfolio).

    • +1

      A great summary of the NPBS market position for mortgage lending: Consistently low price for low risk borrowers.

      For anyone wondering, NPBS cater to people who have above average credit scores (if you don't know your score then think along the lines of payments made on time for your credit cards and home loan with a stable employment history), with no credit default history (i.e. no black marks with Veda in the previous 7 years) and fairly straightforward property to offer as collateral (i.e. no high fire or flood risk ratings, no high density apartment buildings).

      It's also worth noting that NPBS is not a 'fast' lender. Some (typically more expensive) lenders can turn around mortgage refinances in 2 to 3 weeks. NPBS is more traditional in its approach and often takes longer than some of the other lenders on the Naritas lender panel. This is not typically a major problem for standard refinances, but can be an issue for people looking to do refi/purchase restructures in a hurry.

      • Does an average credit rating due to many credit card applications( ff points hoarding) affect application?

        • +1

          Thanks for the question.

          We frequently encounter this type of scenario from OzBargainers :)

          In short, it's not typically a fatal flaw to an application assuming the other aspects of the person's financial profile are solid.

          If you answer 'yes' to the following questions you'll probably be fine:
          * Have you paid all your financial commitments (credit cards, home loans, rates notices, other loans, etc) on time for the past 24 months?
          * Have you been employed in the same job for at least 12 months and/or have you been consistently employed in the same industry for the past 3 years?
          * How many different places have you lived in the past 3 years? Is it less than 3?
          * Is your credit file clean? That is, is your credit file free from defaults, clearouts and debt judgements?
          * Do you generally maintain a surplus of a few thousand dollars (or more) in a savings account like an offset account or transactional account?

          Hope this helps.

    • +1

      Great question. A simple analysis below:

      Beyond Bank:
      * Max LVR 70% for discounted price as compared to 90% LVR at NPBS.
      * Does not have the reputation for consistent low pricing and performance that NPBS does (https://www.newcastlepermanent.com.au/about-us/our-awards)
      * It appears that a valuation and settlement fees may be applicable. Someone will need to confirm but these are typically ~$350 for vals & ~$150 for settlement. NPBS is ~$48 for a standard borrower.
      * Vastly more expensive fixed rate options.
      * No cashback rebate.

      CUA:
      * $600 application fee + $195 settlement fee vs ~$48 at NPBS.
      * Vastly more expensive fixed rate options.
      * No cashback rebate.
      * Does not have the reputation for consistent low pricing and performance that NPBS does (https://www.newcastlepermanent.com.au/about-us/our-awards.)

      Loans.com.au
      * Higher interest rate.
      * Valuation and settlement fee ~$520 vs ~$48 at NPBS.
      * No cashback rebate.
      * Vastly more expensive fixed rate options.
      * No Australian Guarantee on deposit funds for offset accounts.

      Australian Unity:
      * Higher interest rate.
      * Settlement costs of $600 vs ~$48 at NPBS.
      * No cashback rebate.
      * Vastly more expensive fixed rate options.
      * Does not have the reputation for consistent low pricing and performance that NPBS does (https://www.newcastlepermanent.com.au/about-us/our-awards).

      Some of these lenders do have no annual fee options, which for very small loans (typically under $300K) will make them appealing on a price point. For borrowers with larger loans, the aggregate of the settlement rebate, the NPBS reputation for consistent low pricing and the fact that you are dealing with a 100+ year old bank that is covered by the Australian Government Guarantee on deposit funds will make them very appealing.

      Hope this helps.

  • how do you compare this with bankwest 4.08% variable with no other fees other than annual fees(as per the person from bank) and easy access to branches. No progress payment charges, No valuation charges and i think they habe full redraw and offset for free as well.

    • +1

      Great question. I think you're referring to BankWest Complete Package (http://www.bankwest.com.au/personal/home-loans/home-loan-pro…). If you are, their 3 year fixed on Complete Package in combination with the variable you mention has been one of our most popular products - we actually have it listed on our homepage (https://www.naritas.com.au/widgets/rates-widget/?t=hl#3yr). Many of our clients have come to us on this promotion (https://www.naritas.com.au/1000-refinance/) which we ran in conjunction with that offer.

      In short, each offer has its own benefits.

      NPBS pros:
      1. They're cheaper than Bankwest for both fixed and variable loans, in fact, vastly cheaper for 2, 4 and 5 year fixed loans.
      2. They're offering a large rebate - which, considering most people restructure every 3 to 5 years (especially Ozbargainers!), will probably mean that the borrower is effectively not paying an annual fee for the duration of the time they spend in the product.
      3. NPBS has traditionally competed on a much lower price point than Bankwest i.e. this promotion they are running at Bankwest is pricing that is not typical for them when analysed over the past decade.

      Bankwest:
      1. Will do interest only loans for owner occupier borrowers which is somewhat unique given the push by APRA to change lender policy with respect to interest based repayment structures.
      2. Will consider high density apartment blocks as collateral.
      3. Generally lower debt servicing hurdles and less stringent credit criteria which is better for weaker borrowers.

      Hope this helps.

  • As a matter of interest, could you please advise the approx (round thousand) lenders mortgage insurance cost for 85% and 90% LVR on say a $400,000 home ?

    And does the LMI scale out, eg it would be double for an $800K home ?

    • +1

      Thanks for the question.

      We can give you some general calculations, however, in line with OzBargain site terms and Australian financial services regulations this is merely a general statement of facts and does not take into account your specific circumstances nor should it be construed as 'financial advice'.

      So, with that out of the way, here are some rough calcs for you:
      Estimated max LMI premium payable based upon 85%LVR ($340,000 loan size) = ~$3,925 (figure includes LMI stamp duty).
      Estimated max LMI premium payable based upon 90%LVR ($360,000 loan size) = ~$7,263 (figure includes LMI stamp duty).

      In short, LMI can scale when you are assessing two congruent LMI products at the same LVR at different loan sizes. That said, many lenders use a variety of different insurers and mortgage insurance products (dependent on the transaction characteristics) and it is common that larger loans ($750,000+) fall into more expensive mortgage insurance products. As such, you'd possibly be best obtaining multiple mortgage insurance quotes from lenders in writing or using a credit adviser to assist with that task and provide you advice on how you might minimise the total cost of borrowing.

      Hope this helps.

      • Very helpful thanks… just weighing up the savings (lower interest rate, and cashbacks) vs paying LMI again, to see approx how long it would take for the savings to cover the LMI.

        And also whether its worth locking in the extra $$ to drop from 90% down to 85% or even down to 80%. It saves $3K to $7K but then those extra funds are locked into the mortage - hit with LMI if we wanted to extract that cash to use as a deposit on another property etc.

        • You're most welcome. Evaluating the upfront costs vs savings over time is a wise avenue of approach. If you wanted any further assistance with doing this please feel free to PM us or enquire using this form: https://www.naritas.com.au/contact-us/enquiry-form/

  • Do you consider foreign investment property, in particular UK based property a liability or asset?

    • Thank you for the question.

      In short, properties that a borrower can demonstrate ownership of would be considered their asset regardless of location. This lender considers such assets a positive so far as demonstrating financial character of an applicant. Such foreign properties would not, however, be acceptable as collateral for the loans mentioned in this promotion.

      It's also worth noting that this lender (as do many other lenders) would also assess the applicant's net cash flow from the property they own overseas vis a vis if the applicant was transferring cash from Australia to overseas to service any debt associated with that property it would likely create a negative impact on debt servicing calculations. On the flipside, this lender will consider income generated from foreign properties if it is regularly transferred to Australian bank accounts when assessing the strength of a mortgage application (assuming that there is also income generated within Australia).

      Lastly, foreign sourced income (from rent, employment or business), depending on which currency the income is paid to the applicant, will have varying degrees of impact on debt servicing. This lender (as is the case with most of our building societies and credit unions) generally does not position its credit policy in a place to compete for applicants with the preponderance of their income generated outside of Australia (and/or not in AUD). If you were seeking a loan for a scenario where the majority of the assets and income was domiciled outside of Australia you might be best served looking for a loan from a large multinational bank or utilising a credit adviser that can give you advice on niche lenders that service that category of lending well.

      Hope this helps.

  • Can you advise approx costs to bring a 475k loan on 560k valued property and what the current repayment amount might be? (fortnightly)

    • +1

      Thank you for the questions.

      Can you advise approx costs to bring a 475k loan on 560k valued property

      For a fairly standard borrower (i.e. borrowing in a personal name(s), for a property owned in a personal name(s) for a metro/non rural property) the standard costs would probably be:
      * Discharge/exit fees from your present lender (this varies depending on the contract committed to) the industry benchmark is ~$350 for exit costs.
      * Standard state based costs (discharge/mortgage registration) payable by any person refinancing payable to lands titles: ~$250
      * Loan establishment fee payable to NPBS $48
      * Given the LVR, there would potentially be LMI payable. It will depend on the valuation returned by the certified valuer, if the valuation showed an LVR in excess of 80% it would likely be payable.
      __
      Total cost = ~$650 if LMI does not apply (given the $2000 rebate applicable at this loan size, the applicant may work out with a cash surplus of ~$1350 which they can spend as they see fit).
      If LMI did apply you would need to add an estimated maximum of $5,500 to cover the LMI premium plus LMI s/d.

      what the current repayment amount might be? (fortnightly)

      Assuming $475,000 loan size an estimated P&I repayment would be:
      On a fully variable loan: ~$1,059 p/f (note: we've divided the annual fee to allow for fortnightly repayments).
      On a 2 year fixed: ~$1,033 p/f (note: no annual fee applies on fully fixed loans).

      Hope this helps.

      NB This is merely general commentary and not advice. Please refer to our disclaimer for further details (https://www.naritas.com.au/disclaimer/)

  • Naive question: planning to buy property worth around $560k. What would be best product of hole loan would be suitable.

    • Thanks for the question :)

      Unfortunately we can't provide credit advice (i.e. tell you what would be best for your needs) via this medium due to the OzBargain site terms and Australian credit law.

      That said, maybe these links will help:
      1. Here is some information on loans that are popular for purchases of that size: https://www.naritas.com.au/widgets/rates-widget/?t=hl (click the tabs to see home loans vs investment loans and fixed vs variable pricing)
      2. You can contact one of our credit advisers if you wanted to evaluate a specific scenario using this link: https://www.naritas.com.au/contact-us/enquiry-form/

      Hope this helps.

  • A few months ago (November) I considered refinancing through Naritas. Called them up, was sent a link to fill in an online form with all our financials, which I did. It didn't work, emailed them and they said they were having issues, but was good to go now. Redid the form, got the thankyou page and that was it - I was never contacted, followed up or anything. I'm on their mailing list as I receive their monthly newsletter, so I know the form went though. I could have chased it up, but I was enquiring with other places at the same time and found another place I was pretty happy with so just went with them.
    Just sharing my story, no bad feelings.

    • Hi saxlady, thank you for the feedback. Unfortunately we receive a large number of finance enquiries each day and we have only limited resources to follow-up enquiries. We're glad to hear you found an acceptable solution to your needs.

      • FYI I also made an enquiry around November when you had that great fixed rate promotion on. Your team was really courteous. You followed me up but didn't SPAM or pressure sell me. I'll be moving ahead with you for my next purchase.

  • I also used Naritas to refinance my home loan. Friendly, professional and personal service I received.

    If anyone is using their service, please use me as your referral. https://www.naritas.com.au/refer-a-friend/

    We both earn $250 each for a completed application and settlement.

    Please PM for more details

  • Can this be used for off-the-plan purchase? In this case what would be the valuation fee?
    Also I'd like to know what's the discharge fee?

    • Hi Savexyz, thanks for the questions, answers are listed below:

      Can this be used for off-the-plan purchase?

      Yes it can be but not for high density unit blocks which they generally define as more than 30 units and/or more than 4 stories tall.

      In this case what would be the valuation fee?

      The first standard valuation is free. Non-standard vals for premium property (typically $1mil-1.5mil+ for metro locations) have the valuation cost quoted pre-booking and the valuation is typically subsidised by NPBS.

      Also I'd like to know what's the discharge fee?

      As a general guide ~$350.

      Hope this helps.

  • 6. The Cashback Payment is $1,000 where as a result of a refinance under the Summer 2016 Cashback Offer, the total loan refinanced, either jointly or individually using Naritas is $400,000 or more.

    Shouldn't this be $2000 for 400K plus loan?

    • Hi PaleAle, thanks for the question.

      $1000 is coming from NPBS and $1000 is coming from Naritas to make a total of $2000 ;)

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