Best cash backs available for refinances/new loans?

Discussion in 'Loans & Mortgage Brokers' started by bamp, 21st Nov, 2020.

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  1. bamp

    bamp Well-Known Member

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    Hey all,

    What are the best cash backs per property that us investors are seeing or brokers are getting for their clients at the moment?

    I feel pre-COVID banks were getting quite aggressive and was seeing up to 4k per property but I think that has dried up now (happy to be proven wrong though!).

    Cheers
     
    bamp, 21st Nov, 2020
    #1
  2. theperthurbanist

    theperthurbanist Well-Known Member

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    I’m about to get $2,000 per property plus a $1,000 bonus for LVR </= 80% with Westpac. :)
     
    theperthurbanist, 23rd Nov, 2020
    #2
  3. theperthurbanist

    theperthurbanist Well-Known Member

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    That’s for refinance btw.
     
    theperthurbanist, 23rd Nov, 2020
    #3
  4. Redom

    Redom Mortgage Broker Business Plus Member

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    Cashbacks dominated by bigger lenders. 3k for one property common (ANZ, Suncorp, WPC), and 2k per property (WPC) are common offers used by borrowers at the moment. Others like 2k overall available too (CBA & NAB).
     
    Redom, 23rd Nov, 2020
    #4
  5. Hockey Monkey

    Hockey Monkey Well-Known Member

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    $4k with Bank of Melbourne / St George at the moment
     
    Hockey Monkey, 23rd Nov, 2020
    #5
  6. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Dragging the chain...............if one can ever get it approved :)

    ta
    rolf
     
    Rolf Latham, 24th Nov, 2020
    #6
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  7. Mady

    Mady Well-Known Member

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    Hi, any cash back offers per property. I have 6 properties with Westpac bank which I would be happy to refinance.
     
    Mady, 13th Sep, 2021
    #7
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  8. Morgs

    Morgs Well-Known Member Business Member

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    ME bank.. $3K per property main qualifiers are need to be separate apps <80% LVR and above $250K each.
     
    Morgs, 13th Sep, 2021
    #8
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  9. Marty McDonald

    Marty McDonald Mortgage broker Business Member

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    Did'nt know $3K per property was in play. They don't make that clear in their marketing.
     
    Marty McDonald, 13th Sep, 2021
    #9
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  10. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    ME for me is MEH

    ta
    rolf
     
    Rolf Latham, 13th Sep, 2021
    #10
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  11. beachgurl

    beachgurl Well-Known Member

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    I feel the same. My new BDM rang for a chat today so volumes must be low.
     
    beachgurl, 13th Sep, 2021
    #11
  12. Never giveup

    Never giveup Well-Known Member

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    Citi is 4K
     
    Never giveup, 14th Sep, 2021
    #12
  13. David Hui

    David Hui Well-Known Member

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    A lot of lenders around $2-3000 mark but selecting a lender based on the cashback usually isn't a recipe for success.
     
    David Hui, 14th Sep, 2021
    #13
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  14. Shazz@

    Shazz@ Well-Known Member

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    Do any of the banks pay you to stay?
     
    Shazz@, 20th Sep, 2021
    #14
    NG. likes this.