Broker Refinance Cashback

Discussion in 'Loans & Mortgage Brokers' started by blueziplock, 8th Feb, 2020.

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  1. blueziplock

    blueziplock Member

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    About half year ago, I saw several brokers advertising that they'll reimburse refinancing costs (in addition to any lender promotions).

    Was telling a friend who needs to refinance now, but we can't find the promotions any more. Does anyone have a broker, preferably in VIC, that has this promotion to recommend? Thanks!
     
    blueziplock, 8th Feb, 2020
    #1
  2. Morgs

    Morgs Well-Known Member Business Member

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    They've probably all gone bankrupt
     
    Morgs, 8th Feb, 2020
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  3. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    might you be referring to lender rebates? There are few of these around atm.
     
    Terry_w, 8th Feb, 2020
    #3
  4. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

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    Are you after a good broker, or the cheapest broker? They’re two very different things...

    By definition, if they’re rebating, no-one is recommending them...b/c if people were, they wouldn’t need to rebate ;)
     
    Jess Peletier, 8th Feb, 2020
    #4
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  5. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    we get what we go out looking for -anon

    ta
    rolf
     
    Rolf Latham, 8th Feb, 2020
    #5
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  6. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Perhaps hop onto the Barefoot Investor FB page.

    I recall that was one his teachings, and there be some brokers there ready for the meal.

    Most of us older salts know how that works so........

    Man taunts seagulls with hot chips from the safety of his car

    Play the gull video :)


    ta
    rolf
     
    Last edited: 8th Feb, 2020
    Rolf Latham, 8th Feb, 2020
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  7. sash

    sash Well-Known Member

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    Some of the banks like St George...are offering 4k if done online and 2k if done via a broker.

    This may cover a lot of your refinance costs. I know some brokers will give you some of their upfronts. Speak to the brokers...there are other brokers than the ones on here.

     
    sash, 9th Feb, 2020
    #7
  8. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

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    The $4k cash back offer with St George is the same across all distribution channels, including brokers.
     
    Peter_Tersteeg, 9th Feb, 2020
    #8
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  9. sash

    sash Well-Known Member

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    Have a read in the fine print....but will take your word for it.
     
    sash, 9th Feb, 2020
    #9
  10. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

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    Here's the BOM broker website. Follow the link in the scrolling ad, it includes the T&C's.

    Home
     
    Peter_Tersteeg, 9th Feb, 2020
    #10
  11. sash

    sash Well-Known Member

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    OK. That is great then...4k to refinance...you can't beat that!
     
    sash, 9th Feb, 2020
    #11
  12. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

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    Sure you can! There's plenty of lenders with far better servicing profiles, better and cheaper products! :D
     
    Peter_Tersteeg, 9th Feb, 2020
    #12
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  13. sash

    sash Well-Known Member

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    Home Loan Refinance | St.George Bank:

    OK seems to be different on their site... I have seen varying rebates across the WBC group.
     
    sash, 9th Feb, 2020
    #13
  14. sash

    sash Well-Known Member

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    Yep...but lots of people focus on the rates and do not lock at overall costs. ;)

    Agree St George are extremely conservative and harder to get great variable rates.
     
    sash, 9th Feb, 2020
    #14