flagFounded: 1903

businessOwned by: Customer-owned

monetization_onFunded by: Almost entirely from retail deposits

securityLMI Provider: QBE

account_balanceLender type: Building Society, Customer-Owned

Newcastle Permanent is the largest building society in Australia and is popular with home buyers in the Hunter and Newcastle regions.

NPBS is actually owned by its customers which means that their profits get returned to you as better interest rates and lower fees. This gives them a distinct advantage over the major banks who are always looking for a way to increase shareholder profits.

Unfortunately, they’re barely known outside of their home region and most mortgage brokers aren’t yet accredited with them.

How do Newcastle Permanent’s home loans compare?

They’re great at

But they’ve got some drawbacks…

  • Conservative credit policy
  • Unlikely to help people with a bad credit history (existing members may be considered)
  • Most of their branches are in and around Newcastle, NSW
  • Not many mortgage brokers are accredited with Newcastle Permanent
  • No low doc loans, SMSF loans or other niche products
  • Depending on how busy they are, they may be slow to assess your application

Coronavirus / COVID-19: Newcastle Permanent mortgage relief

Newcastle Permanent home loan customers affected financially by the coronavirus epidemic can request a repayment pause for up to 6 months, with a review (check-in) after 3 months. Remember as with any repayment holidays, the interest is capitalised.

If you’re experiencing financial difficulty as a result of COVID-19, please email them directly at: MemberAssist@newcastlepermanent.com.au

Do they lend outside of NSW?

Yes, you can get a loan with Newcastle Permanent even if you’re in other states. We’ve helped people in WA, QLD and VIC without any problems.

That being said, you may find it hard to find a local broker who is accredited with Newcastle Permanent.

What home loans types do they have?

Their Premium Plus Package is better than the professional packages offered by most other lenders as it has good interest rates starting from loans of just $150,000 and tends to have larger discounts for big loan sizes as well. It’s less competitive for loans over $1.5 million where other lenders will negotiate special pricing.

It has pricing tiers from 1 to 4 depending on the size of your loan. However there are often a special offers which puts everyone on the best interest rate no matter your loan size!

Their Real Deal Home Loan has a low rate for the first three years before reverting to a higher interest rate. It’s a basic loan and it doesn’t really compare to NPBS’s Premium Plus Package.

Their Fixed Rate Home Loans are often very competitive for terms of 1 – 5 years. They offer 7 year and 10 year fixed rates but like with many other lenders, the cost of locking in for such a long term usually outweighs the benefits.

Tip for applying with Newcastle Permanent

Use Newcastle Permanent’s home loan checklist to prepare for your home loan application.

Note: This is the latest home loan checklist as of November 2017. Please refer to Newcastle Permanent for their most up-to-date document requirements.

Newcastle Permanent client story: Gary & Maria, NSW



Building their own home.


Gary and Maria originally got a pre-approval with St George to buy their first home but after much searching they decided they would buy a home and land package instead.

By that time, their pre-approval had expired but instead of reapplying with St George, they felt they could get a better interest rate elsewhere.


NPM offer very competitive rates for so-called ‘vanilla’ customers (low risk) like Gary and Maria.

With more than 20% of the property value as a deposit (they were borrowing around 77% LVR), a good income and a clear credit history, the couple were able to get approved for their construction loan and at a market-leading interest rate.

Compare NPBS to other lenders

Not sure which lender is right for you? Our Home Loan Experts can help!

Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.