First home buyer housewarming gift - Terms and Conditions

1. This First Home Buyer Housewarming Gift (“Offer”) is provided by Greater Bank, part of Newcastle Greater Mutual Group Ltd ACN 087 651 992 of 307 King Street Newcastle NSW 2300(“Greater Bank”).

2. This Offer commences 8 November 2023 and closes 31 March 2024 (“Offer Period”).

3. The Offer is open only to Australian residents aged 18 years and over who satisfy the criteria in clauses 4 and 5, and otherwise meet these terms and conditions (“Eligible Borrower”).

4. Under the Offer, where an Eligible Home Loan Application (defined in clause 5) is received by Greater Bank, approved during the Offer Period and the loan is funded by 30 June 2024, the following amounts will be paid to the Eligible Borrower(s), subject to these terms and conditions:

a. A payment of $3,000 (“Payment”); plus

b. A rebate of 50% of any Lenders Mortgage Insurance (LMI) premium payable in relation to the loan (“Rebate”) if applicable (see clause 8 below).

5. To be considered an Eligible Home Loan Application, the loan must meet all the following conditions (“Eligible Home Loan Application”):

• Is an owner-occupied home with a Loan to Value Ratio (LVR) less than or equal to 95%;
• Has a loan amount of $250,000 or more;
• The loan is a Greater Bank branded loan. For clarity, this does not include Newcastle Permanent (also part of Newcastle Greater Mutual Group Ltd) branded loans; and
• All borrowers are a first home buyer, which means they have never owned or co-owned a residential property.

6. Where there are joint borrowers, only one Payment and one Rebate will be paid per eligible home loan irrespective of the number of joint borrowers.

7. A borrower is eligible for a Payment and Rebate only once during the Offer Period. Once an Eligible Home Loan Application is received no further loans which include that borrower, jointly or individually, will be eligible for a Payment and Rebate.

8. Where a LMI premium is not required to be paid on the loan due to the LVR being less than 80%, no Rebate is payable and only the $3,000 Payment will apply.

9. The Payment will be deposited to a Greater Bank deposit account within 60 days after the settlement date. The borrower(s) must hold an open Greater Bank deposit account in the same name(s) as the eligible home loan as at the time of payment to be eligible to receive the Payment.

10. A deposit account does not include a term deposit or loan product. If you have multiple Greater Bank accounts, Greater Bank will determine which account will receive the Payment. The borrower(s) cannot nominate an account.

11. The Rebate will be deposited to the Greater Bank home loan that qualified for the Offer within 60 days after the settlement date. The home loan must remain open at the time of the Rebate deposit to be eligible receive the Rebate.

12. The Rebate deposit will not be considered a repayment under your loan agreement and will not count towards any minimum repayment.

13. The borrower(s) home loan application in conjunction with this Offer will be subject to Greater Bank’s usual credit assessment and approval processes.

14. Any person who participates in the Offer acknowledges it is made subject to these terms and conditions and will be deemed to have accepted these terms and conditions.

15. Fees and charges apply to home loans taken out under this Offer. Refer to the Lending fees and charges brochure or your loan agreement for details.

16. The borrower(s) cannot transfer or assign their right to the Offer to any other person.

17. Loans that receive a Payment and, if applicable, a Rebate are ineligible for any other Greater Bank and Newcastle Permanent branded promotional payments.

18. Greater Bank accepts no responsibility for any tax implications that may arise from the Payment and Rebate. The borrower should seek their own independent advice in this regard.

19. Participation in the Offer is deemed acceptance of these terms.

20. These terms and conditions do not form part of your loan agreement.

21. Greater Bank reserves the right to, at any time, withdraw or extend the Offer or otherwise vary these terms and conditions.