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Newcastle permanent.

Discussion in 'Property Finance' started by Brian84, 4th Aug, 2015.

  1. Brian84

    Brian84 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    961
    Location:
    Sydney
    Hi all,

    My wife and I are looking to change our mortgage over from St George to Newcastle permanent.

    Just wondering if any one has dealt with Newcastle permanent and how did you find your experience with them? They seem to have a good interest rate.

    What are they like with accessing equity?
     
  2. drg86

    drg86 Well-Known Member

    Joined:
    25th Jun, 2015
    Posts:
    273
    Location:
    Newcastle
    My dealings with them didn't eventuate, I once tried to get a credit card with them with the idea of switching loans to them once my fixed term ended, just a 3k card and was denied. Having a job and a 7 figure portfolio wasn't good enough apparently. After that experience didn't even consider them for the new loans.

    But they did get home lender of the year so maybe I just offended their calculators??
     
  3. Brian84

    Brian84 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    961
    Location:
    Sydney
    Yea maybe they thought it wasn't worth it for 3k. I have read that they got lender of the year.
     
  4. Marty McDonald

    Marty McDonald Mortgage broker Business Member

    Joined:
    22nd Jun, 2015
    Posts:
    228
    Location:
    Sydney North Shore and Norther beaches
    I used to deal with them pre GFC. Sharp rates but everything else was toxic and definitely not investor friendly I would think. Things may have changed but I doubt it.
     
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  5. drg86

    drg86 Well-Known Member

    Joined:
    25th Jun, 2015
    Posts:
    273
    Location:
    Newcastle
    Yeah maybe, but they did end up losing out on the chance to get my loans due to not welcoming a new customer...

    As said above they don't come across as investor friendly.

    I will say something positive, they have done a good job in supporting organisations like surf life saving, so that's a good thing I've experienced (being a club member and getting funding for new gear).
     
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  6. serendip

    serendip Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    57
    Location:
    Newcastle
    i had my PPOR loan with them & it was fine, P/I. Biggest issue from an I/O perspective is that the minimum payment is set at the full interest amount regardless of any funds in an offset account. I had bo issues wit customer service but nothing really to challenge them either
     
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