Home Loan Refinance Rebate Deals

Discussion in 'Loans & Mortgage Brokers' started by Shadow of the Wind, 16th Feb, 2020.

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  1. Shadow of the Wind

    Shadow of the Wind Member

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    What are the latest deals?

    I can see:

    • CBA $2000
    • ANZ $1200-$3500
    • Westpac $2000
    • St George $2000
    • NAB $4000

    Who else are giving these cashback offers?
     
    Shadow of the Wind, 16th Feb, 2020
    #1
  2. Barny

    Barny Well-Known Member

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    What variable ppor rate are these banks offering with that cash back?
    I know nab is 3.09%
     
    Barny, 16th Feb, 2020
    #2
  3. Shadow of the Wind

    Shadow of the Wind Member

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    My home loan is actually fully offset, therefore it doesn't matter what the rate is. Their annual fees tend to be similar$. I just want to take advantage of the cashbacks and squeeze some money from the banks. I want to do this every year or so.
     
    Shadow of the Wind, 16th Feb, 2020
    #3
    Dean Collins likes this.
  4. Hockey Monkey

    Hockey Monkey Well-Known Member

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    Hockey Monkey, 16th Feb, 2020
    #4
    Shadow of the Wind likes this.
  5. sumterrence

    sumterrence Well-Known Member

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    Well if I were you I will do a refinance with each big4 every quarter lol.
     
    sumterrence, 16th Feb, 2020
    #5
    Never giveup likes this.
  6. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    and get a broker rebate each time too

    The principle of the free lunch

    ta
    rolf
     
    Rolf Latham, 17th Feb, 2020
    #6
    NG., Navjit and sumterrence like this.
  7. Shadow of the Wind

    Shadow of the Wind Member

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    how does this work? is this a clawback?
     
    Shadow of the Wind, 18th Feb, 2020
    #7
  8. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    sorry about the poor communication

    Once a mth on average we get this enquiry

    I have been reading Xs book, or reading a post on a forum about some brokers rebating their commission

    I can give you a 500 k loan twice or 3 times a year to refinance so I can get those 2 to 4 k lender rebates, and you will get 3 commissions for the same work, so Im guessing you can also share half your comms ?

    babes in the woods


    ta
    rolf
     
    Rolf Latham, 18th Feb, 2020
    #8
    oracle likes this.
  9. RoadRunner

    RoadRunner Well-Known Member

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    which lenders out there don't have a clawback clause? I know one Latrobe.
     
    RoadRunner, 19th Feb, 2020
    #9
  10. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Coz you, the borrower pay a pretty hefty entry fee , its a clawback in reverse.

    ta
    rolf
     
    Rolf Latham, 19th Feb, 2020
    #10
  11. Redom

    Redom Mortgage Broker Business Plus Member

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    I think you have a fairly accurate summary of it @Shadow of the Wind - Westpac can get 3k.

    The time cost of refinances may be worth factoring in too, and probably best to go direct to banks to do this given broker remuneration structures aren’t aligned with what your seeking to do. E.g NAB approvals are taking significantly longer than others, given their product offerings at the moment.
     
    Redom, 21st Feb, 2020
    #11
    NG., Never giveup and Navjit like this.
  12. Jasper

    Jasper Well-Known Member

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    Jasper, 27th Feb, 2020
    #12
  13. Hockey Monkey

    Hockey Monkey Well-Known Member

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    Yes the rebate increased to $4K on Feb 1st. I just missed out and have an open request for them to backdate as I applied in Jan and settee in Feb.

    I believe the MCC offer can be combined with the rebate.
     
    Hockey Monkey, 27th Feb, 2020
    #13
    Dean Collins likes this.
  14. thydzik

    thydzik Well-Known Member

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    St George Bank $4000 + $2000 Per Additional Property Refinance Cash Rebate 2.94% No Annual Fee + 0.3% Bundle Rebate (> $250k)
    St George Bank $4000 + $2000 Per Additional Property Refinance Cash Rebate 2.94% No Annual Fee + 0.3% Bundle Rebate (> $250k)

    ANZ 2.68% Fixed 2yr Home Loan + up to $3500 Refinance Rebate + 0.3% Bundle Rebate
    ANZ 2.68% Fixed 2yr Home Loan + up to $3500 Refinance Rebate + 0.3% Bundle Rebate

    Westpac 2.99% Investor Fixed + $3000 Per Property Refinance / $2000 Purchase Rebate + Annual Fee Waived 1yr + 0.3% Bundle Rebate
    Westpac 2.99% Investor Fixed + $3000 Per Property Refinance / $2000 Purchase Rebate + Annual Fee Waived 1yr + 0.3% Bundle Rebate
     
    thydzik, 28th Feb, 2020
    #14
    Never giveup and Anne11 like this.
  15. Never giveup

    Never giveup Well-Known Member

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    I wonder if their calculator is better than CBA re borrowing
     
    Never giveup, 29th Feb, 2020
    #15
  16. Goosehead

    Goosehead Well-Known Member

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    Just asked to refinance with NAB to complete a renovation. As I'm not a new customer I am not eligible for the $4000 rebate.
     
    Goosehead, 29th Feb, 2020
    #16
  17. Shadow of the Wind

    Shadow of the Wind Member

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    I know someone who refinanced to NAB and got $4,000 and 120,000 Qantas FF Points.
     
    Shadow of the Wind, 2nd Mar, 2020
    #17
  18. Gen-Y

    Gen-Y Well-Known Member

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    WOW ...
    I am just want to churn just for the rebates.
    It is so damn good to sit on my hands.

    Any thoughts?
     
    Gen-Y, 3rd Mar, 2020
    #18
  19. Lucki

    Lucki Well-Known Member

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    Reckon ANZ are increasing their refinance rebate to $4000 shortly.
     
    Lucki, 8th Mar, 2020
    #19
  20. ttn

    ttn Well-Known Member

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    ANZ lender advised cash back to $4k but I am not moved :D

    Wait till RBA do another cut and the big 4 shall offer similar deals i think ;)
     
    ttn, 8th Mar, 2020
    #20
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