Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Newcastle Permanent confirms it is accepting OO IO loans

green light ta green light ta
Annie Kane 2 minute read

The building society has clarified that it is still accepting applications for owner-occupied interest-only loans, after a message was sent to brokers stating otherwise.

Newcastle Permanent Building Society Ltd (Newcastle Permanent) has confirmed to The Adviser that it is still able to accept applications for customers for owner-occupied (OO) interest-only (IO) loans, following a broker update being sent out stating the contrary.

Earlier this week, the building society issued a communication to some brokers that, effective immediately, it would “temporarily not be accepting applications for owner-occupied interest-only loans”. 

However, the lender has since issued a follow-up update, confirming that it is still accepting OO IO applications.

It is believed that the initial message may have been sent in error.

Advertisement
Advertisement

A spokesperson from Newcastle Permanent told The Adviser: “We are accepting applications for customers for owner-occupied interest-only loans, and we are always open for business for our customers.

“As a responsible lender, we review every loan application on its merits.”

Newcastle Permanent’s OO IO loans start from 2.89 per cent (two and three-year premium plus package, fixed rate). 

[Related: Newly appointed lender CEO affirms broker support]

Newcastle Permanent confirms it is accepting OO IO loans
green light ta
TheAdviser logo
green light ta
Annie Kane

Annie Kane

Annie Kane is the editor of The Adviser and Mortgage Business.

As well as writing about the Australian broking industry, the mortgage market, financial regulation, fintechs and the wider lending landscape – Annie is also the host of the Elite Broker and In Focus podcasts and The Adviser Live webcasts. 

Email Annie at: This email address is being protected from spambots. You need JavaScript enabled to view it.

 

FROM THE WEB
more from the adviser
Judo Bank ta Judo hits $1bn in loan originations

The challenger bank has surpassed $1 billion in loan originations...

Chinese New Year latern ta SMEs urged to consider finance ahead of Chinese New Year

Small businesses have been encouraged to secure finance to fund t...

Bankwest Lendi ta Bankwest, Lendi integrate assessment tools

The Commonwealth Bank-owned lender has announced a partnership wi...