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Newcastle Greater Mutual Group (NGM Grou) has launched its digital home loan offering under its Newcastle Permanent brand, which allows refinancers approval in around 20 minutes.

NGM Group, a merger of the Newcastle Permanent Building Society and Greater Bank, rolled out its new digital home loan product with the aim of providing refinancers a way to get quicker loan approval.

The digital home loan is currently available to refinancers but will be open to new home purchases later this year.

NGM Group CEO Bernadette Inglis said despite the speed and convenience of the newly launched digital home loans, all the right checks and balances are ensured.

“More than just a speedier way to get an outcome, this platform empowers customers to apply for their home loan at a time and location that’s convenient for them, rather than finding time in their busy schedule to have a face-to-face meeting,” she said.

“Thanks to the service’s cutting-edge technology, there is no need for customers to manually gather documentation such as bank statements, payslips and records of monthly spending – our secure platform helps collate this information.”

Ms Inglis said security is also a priority in the roll out of the digital home loans.

“Our Digital Home Loans utilise sophisticated technology that goes as far as detecting eye movements through facial identification, verifying applicants as real-life people, and matching them with their physical identification cards such as a drivers license,” she said.

Refinancers can apply for the digital home loans in a personalised online portal.

“Customers can feel confident as they watch their application move through the various stages of approval to settlement in real-time.”

Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.

Update resultsUpdate
Filters
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkCompare
6.04% p.a.
6.06% p.a.
$2,408
Principal & Interest
Variable
$0
$530
70%
 Featured Online ExclusiveUp to $4k cashback
  • Immediate cashback upon settlement
  • $2000 for loans up to $700,000
  • $4000 for loans over $700,000
5.99% p.a.
5.90% p.a.
$2,396
Principal & Interest
Variable
$0
$0
80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
6.14% p.a.
6.16% p.a.
$2,434
Principal & Interest
Variable
$0
$250
60%
  • Find out your loan eligibility in 2 minutes or less
  • Complete your application in less than 20 minutes
  • Low fees and fast approval times
5.95% p.a.
5.95% p.a.
$2,385
Principal & Interest
Variable
$0
$0
90%
5.94% p.a.
5.95% p.a.
$2,383
Principal & Interest
Variable
$0
$0
90%
Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of .

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