Broker guide
Newcastle Permanent Refinance for Brokers 2026
Refinancing to Newcastle Permanent? Match your client’s income and equity to the loan, then account for documents, switching costs and settlement.
- Published
- Updated
A Newcastle Permanent refinance replaces an existing home loan after the lender assesses your client’s income, debts and property. Brokers can arrange owner-occupied or investment refinances through their accredited channel. The advertised online cashback has separate channel rules, so exclude it from a broker proposal unless that proposal qualifies under its own written offer.
Refinancing to Newcastle Permanent
Newcastle Permanent accepts residential refinances for owner occupation or investment, including eligible equity release for renovations or personal debt consolidation. Its lending standards distinguish these purposes from business borrowing.
The refinancer page shows variable and fixed loans, including Real Deal and Premium Plus Package products. Customers can apply through the lender’s online channel or speak to a lender. Broker submissions follow the broker’s accreditation and aggregator arrangements.
AFG’s Newcastle Permanent lender directory lists accreditation for brokers in NSW, the ACT and Queensland. That restriction describes broker accreditation. Assess the property’s acceptable location separately.
The Newcastle Permanent broker portal guide covers access and support.
For an existing Newcastle Permanent borrower, separate a request for a better rate from a product conversion or increased borrowing. A rate review alone does not bring an external mortgage to Newcastle Permanent.
The lender’s restructure guide allows a principal increase on an eligible existing variable loan while keeping its term, product and rate. An increase involving a term extension, product change or rate change requires a new application. That creates a new account, so repayment instructions and any eligible offset links need updating after funding.
Income, Equity and the Requested Loan
Newcastle Permanent assesses repayment capacity as well as equity. A client’s existing repayment record helps explain the file, but it does not establish how much the new loan can be.
Record employment type and income relied on, then reconcile living expenses and every ongoing liability. Include credit limits and commitments that remain after settlement. Explain adverse credit or repayment problems before selecting a product.
Interest-only repayments require an assessment of the request and the client’s circumstances.
Calculate the loan-to-value ratio (LVR) using the proposed total loan and Newcastle Permanent’s accepted property value. Check the postcode, title and property type against its security rules. A lower valuation can change the loan available or introduce lenders mortgage insurance (LMI).
Separate the requested funds into the outgoing mortgage payout, switching costs and any additional borrowing. A like-for-like refinance transfers the existing balance. A renovation increase also needs a supported purpose and sufficient repayment capacity for the larger debt.
For consolidation, identify each debt being paid out, its current repayment and whether its facility will close. Assess commitments that remain open under the lender’s rules. Compare the repayment period too: moving a short personal loan into a long mortgage can increase total interest despite a lower rate.
Bulma’s Policy Advisor quotes lender policy wording that you can retain in file notes. Use the quoted rule to support the income or security treatment behind your proposal.
Evidence for the Application
Build the evidence pack around the borrower’s actual income and the debts the new loan will replace. Newcastle Permanent’s public application checklist identifies proof of identity and income, liability details, a recent mortgage statement and the property’s rates notice.
Use the broker supporting-documents guide for submission requirements. Document ages apply when the file reaches the lender’s credit team.
| Evidence | Broker requirement and assessment purpose |
|---|---|
| Identity and application | Supply identification for all applicants, signed declarations, broker notes and the completed broker checklist. New or increased debt requires the serviceability calculator. |
| Employed income | Full-time employees need one payslip less than two months old. Part-time income also needs guaranteed hours. Casual and contract income require two consecutive recent payslips with the specified supporting evidence. |
| Existing mortgage | Where the loan appears in comprehensive credit reporting, provide the latest statement less than two months old. Otherwise, supply the most recent six months of statements, dated less than two months old. |
| Living expenses | Provide at least two months of main transaction-account statements and statements for credit cards used regularly, dated less than two months old. |
| Property | Supply the latest rates notice, no more than 13 months old, to identify the security. |
For self-employed income, the self-employed assessment guide generally requires two years of trading results. Sole traders need personal tax returns for both years, with the latest Australian Taxation Office (ATO) Notice of Assessment. For income from a company, add its tax returns and accountant-prepared financial statements to the director’s personal evidence.
The lender uses the lowest of the latest year’s assessable income, the two-year average or 125% of the earlier year. Explain profitability changes exceeding 20%. Shorter trading history with previous work in a similar field can receive individual consideration through the business development manager (BDM).
Refresh the file when documents age beyond the submission limit. A job change, reduced income, new debt, changed dependants or different use of the property can also change the assessment. Give the lender updated evidence and revised figures before relying on the offer.
The broader refinance requirements guide covers the shared application process.
Switching Value Beyond an Offer
Compare the refinance with keeping the existing loan over the same remaining term and repayment type. Hold the balance and assumed offset funds constant. Show a term extension separately so its lower repayment cannot be mistaken for an interest saving.
Compare features the client will use. An offset account reduces interest through linked savings, while redraw accesses eligible extra repayments under the loan’s conditions. Include package charges and restrictions on extra fixed-rate repayments when deciding whether those features justify their cost.
The mortgage fee schedule lists a $595 establishment fee for Real Deal and standard Fixed Rate loans. Premium Plus Package has no establishment fee and a $395 annual package fee. Apply the selected loan’s written fee waiver where one applies.
Newcastle Permanent pays required valuations for new residential home loans and increases. Include applicable legal and registration costs, outgoing discharge charges and any fixed-rate break cost quoted by the outgoing lender. Add LMI if the proposed loan requires it.
If costs become part of the loan, include the interest charged on them.
The Online Cashback Offer terms require submission through Newcastle Permanent’s own online application channel. The offer requires digital identity and financial-information collection, eligible employed borrowers, at least $250,000 in new borrowings and an LVR no higher than 80%. Refinances from Greater Bank are excluded.
Do not carry that cashback into a broker submission. Count a broker incentive only when its written terms cover the client, loan and submission channel. An eligible online borrower must also meet the offer’s settlement, account and previous-cashback conditions.
A payment received after settlement cannot cover an upfront funding shortfall.
A Hypothetical Switching Calculation
Assume a $500,000 refinance keeps the remaining 22-year term. Estimated interest savings are $150 a month and switching costs total $1,800. This example sets ongoing fees and cashback to $0.
At $150 a month, recovering $1,800 in switching costs takes 12 months. This simplified calculation assumes unchanged rates and balances and excludes interest on capitalised costs.
Use the refinance calculator to compare the client’s actual balance and remaining term. Show the debt remaining at the end of the comparison period as well as repayments paid.
Approval, Discharge and Settlement
Confirm the Newcastle Permanent scenario and channel before submitting, then complete the lender’s valuation and approval requirements before arranging settlement. The lender’s refinancing guide explains that settlement pays out the old loan and registers the new mortgage.
- Confirm the borrower, purpose and security fit. Resolve an unusual income treatment or property issue with the BDM before submission.
- Submit the application with its evidence and serviceability calculation. Keep the requested debt and repayment type consistent across the documents.
- Complete the valuation and answer credit conditions. If the accepted value reduces available lending, revise the amount or obtain funds for the shortfall.
- Review and accept the formal offer. Check the approved term, fees and any conditions that must be met before funding.
- Lodge the outgoing lender’s discharge request with the required borrower authority. Coordinate its notice period and payout figure with the proposed settlement, keeping repayments current until the old loan closes.
- Reconcile settlement and establish repayments. Match the funded balance to the mortgage payout, costs and approved additional funds. Confirm the first repayment amount, due date and nominated debit account.
After settlement, confirm the outgoing loan is paid out and closed, with any residual interest or fees cleared. Check that the new repayment instruction works and any intended offset account is linked. Keep the settlement statement and closure confirmation with the refinance file.
