Both Westpac and St George have come out with a $1,250 per property for owner occupied and investment property refinances. Why IP's? In short APRA has previously stated that the lenders can only increase their investment book by 10%. From the lender's perspective an increase of 10.1% is a failure but an increase of 9.9% is also a failure. Westpac increased their books by close to 9.9% so they want to get closer to that 10% figure as possible. Its definitely a good deal provided that you were previously recommended by your brokers to refinance an IP to St George or Westpac. You shouldn't purely refinance to these lenders just to get the cashback considering it will cost you approximately $1,250 in fees to refinance anyway. The other product which is getting a lot of traction now (get it while you can) is Homeloans Ltd 85% no LMI on investment properties.