Key facts
- Parties
- Newcastle Permanent and McDonald Jones Homes
- Offer name
- The Home Grown Deal
- Eligibility
- Customers building a new McDonald Jones Homes home in the Hunter Region and financing with a Newcastle Permanent construction loan
- Discount for new customers
- Exclusive interest rate discount on variable rate
- Discount for existing customers refinancing
- Variable rate discount or fixed-rate discount per annum
- Quotes
- James Cudmore (NGM Group) and Rob Douglas (McDonald Jones)
Background
Two Hunter businesses have joined forces to support local home ownership and back the region's continued growth. Newcastle Permanent and McDonald Jones Homes have launched The Home Grown Deal, an exclusive offer available only to customers building a new McDonald Jones Homes home in the Hunter Region and financing their build with a Newcastle Permanent construction loan.
Eligible customers will be entitled to an exclusive interest rate discount on their variable rate. Existing McDonald Jones customers living in the Hunter who refinance with Newcastle Permanent will receive a variable rate discount or a fixed-rate discount per annum.
Current situation
Newcastle Greater Mutual Group (NGM Group) chief customer and digital innovation officer James Cudmore said working together was a natural fit for two organisations with deep roots in the region. "Newcastle Permanent and McDonald Jones Homes have both been part of the Hunter's story for decades, so coming together like this makes sense," he said.
"We've each played a role in helping local people build their futures, and by combining our strengths we're making it easier for more families to build a home in the region they love. This collaboration reflects our shared confidence in the Hunter and our ongoing commitment to the communities that have shaped us."
McDonald Jones chief executive officer Rob Douglas said the launch of The Home Grown Deal for McDonald Jones was a game-changer for customers. "There has never been a better time to build a new home with McDonald Jones and Newcastle Permanent than right now," he said.
| Customer type | Discount |
|---|---|
| New customers building with McDonald Jones | Exclusive variable rate discount |
| Existing McDonald Jones customers refinancing | Variable rate discount or fixed-rate discount per annum |
Impacts
The deal is designed to benefit families in the Hunter Region who are building a new home with McDonald Jones Homes and financing through Newcastle Permanent. Eligible customers will receive an exclusive interest rate discount on their variable rate, potentially lowering their borrowing costs.
Existing McDonald Jones customers in the Hunter who refinance with Newcastle Permanent may also benefit from rate discounts, depending on whether they choose a variable or fixed-rate loan. The collaboration reflects the companies' shared confidence in the Hunter and their commitment to local communities.
Future outlook
Scenario analysis: The possibilities below are not certain predictions.
If the offer attracts strong uptake, it could encourage more families to build in the Hunter Region, supporting local home ownership and the area's continued growth. The partnership may also set a precedent for similar collaborations between local lenders and builders.
However, the long-term impact will depend on market conditions and customer response. If interest rates or housing demand shift, the deal's attractiveness could change. The companies have not announced any extension or modification of the offer beyond the current launch.
Source: dungogchronicle.com.au
