Newcastle Permanent Lifts Interest Rates On Home Loans By 0.25% Following RBA Announcement

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The Hunter’s No. 1 home lender, Newcastle Permanent Building Society announced today that it will only be increasing its variable mortgage rates by 0.25% per annum, in line with the Reserve Bank’s latest increase in official interest rates.

We encourage anyone who is angry with their bank to vote with their feet and switch to Newcastle Permanent.

The Hunter’s No. 1 home lender, Newcastle Permanent Building Society announced today that it will only be increasing its variable mortgage rates by 0.25% per annum, in line with the Reserve Bank’s latest increase in official interest rates.

The increase for variable rate home loans will be effective on Monday, 8 November 2010 with new repayments for existing borrowers to apply from January 2011.

Newcastle Permanent CEO Terry Millett said Newcastle Permanent, as a mutual organisation with no shareholders, is committed to providing its members with highly competitive home loans.

"We have helped more people in Newcastle and the Hunter with their home loan than any other financial institution in Australia, including all the major banks."

“We encourage anyone who is angry with their bank to vote with their feet and switch to Newcastle Permanent. When you have your home loan with Newcastle Permanent you not only get one of the best home loan interest rates, you are also helping us to support your local community, not shareholders.”

“After this latest increase our multi-award winning Real Deal home loan will be just 6.97% p.a. for both new and existing members.”

http://www.newcastlepermanent.com.au/

Media enquiries: Brett Lavaring
Mobile 0448 262 939

About Newcastle Permanent:

  •     Mutual organisation owned by its members
  •     96% member satisfaction (Source: AMR Interactive 2010)
  •     Home Lender of the Year 2009, Australian Financial Review, Smart Investor Blue Ribbon Awards
  •     Building Society of the Year 2008 and 2009, Australian Financial Review, Smart Investor Blue Ribbon Awards
  •     Money Magazine’s Building Society of the year 2007 and 2008
  •     12 CANSTAR CANNEX 5-star ratings including five for our two most popular, multi-award winning home loans Real Deal and Premium Plus
  •     Most financially secure Building Society in Australia in terms of net assets and capital
  •     More than $6.8 billion in assets
  •     Has been providing financial services to its members for over 105 years. Products include:

-Personal investment and transaction accounts
-Home loans and personal lending products
-Business services
-Insurance and travel products
-Financial planning

  •     Newcastle Permanent Building Society is committed to the Newcastle Permanent Charitable Foundation, which provides vital financial support for local charities and community not-for-profit organisations.

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