$4000 refinance bonus with St George

Discussion in 'Loans & Mortgage Brokers' started by tutes, 15th Nov, 2019.

Join Australia's most dynamic and respected property investment community
Tags:
  1. tutes

    tutes Member

    Joined:
    10th Sep, 2017
    Posts:
    10
    Location:
    Adelaide
    $4000 refinance bonus with St George for online applications.

    Seems a pretty good deal, especially the basic rate with St George.


    Home Loan Refinance | St.George Bank

    Can I refinance to St George just for this deal, then leave after I get the $4000?

    Any other possible problems or issues?
     
    tutes, 15th Nov, 2019
    #1
  2. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    23,504
    Location:
    Sydney
    Is your property a IP ? The promotion seems to exclude some refinances and also own home loans where its IO. If its an IP then there will be an assessable income issue. If the loan is for your own home then that isnt a concern. There appears at least a 60 day requirement. You may need to ask what the early payout fee will be for your present loan and the new loan and what the statutory / legal / settlement costs will be x 2.

    And the impact on your credit score to immediately refinance.

    The comparison rate isnt exactly sharp. 3.86% ..unless you choose the basic product but if its just 60-90 days I guess that all you may want.

    Seems its not $4k....It can up to $8K depending how many properties are involved.
     
    Paul@PAS, 15th Nov, 2019
    #2
  3. Lindsay_W

    Lindsay_W Well-Known Member

    Joined:
    1st Jul, 2015
    Posts:
    5,055
    Location:
    QLD/Australia Wide
    Do you know if you can even service with St George yet?
     
    Lindsay_W, 15th Nov, 2019
    #3
From $20k to $25 Million: The Chris Gray Story