Cash rebate on refinance

It is a great time to look at your mortgage. Rates are low and in addition to that some banks will give you money to refinance your mortgage!

You can benefit from the intense competition between banks by switching to a lender that has a competitive interest rate and a cash rebate.

$10,000 for one client

I recently did a refinance for a client with 5 properties. Here is a summary:

  • Clients had 5 properties and were looking for a better deal.
  • One of the banks on our panel was offering a very sharp rate as well as a rebate of $2000 per property.
  • Once settled, the clients saved $2,500 per month on their repayments plus received $10,000 cash back.
  • This offer is currently available.

Contact us if you would like to find out what is possible for you

    Other current offers

    $4,000 refinance cashback

    One of our lenders is offering $4,000 cash for a refinance of $250,000 or more.

    The $4,000 refinance cashback is:

    • Limited to one bonus per customer;
    • Only available to individual borrowers includes both owner-occupiers and residential investors;
    • Not available to customers refinancing from one of their affiliated/flagship banks.

    $2,000 refinance rebate

    With a loan balance of $250,000 or higher, you may qualify for a $2,000 refinance cashback with a couple of lenders including a major lender.

    This rebate is on offer to home loan applications submitted by 31 January 2020.

    • Only available on owner-occupied home loans.
    • Only available for principle and interest repayments (not interest only).
    • Top-up amounts or any new money you may want to borrow will not count towards the $250,000 minimum loan balance amount.
    • The mortgage you are refinancing must be from another financial institution.
    • The lender will credit the $2,000 cashback to your linked transaction account within two weeks of the loan transfer.

    Please call us on 1800 756 267 or fill in the form below to find out if you qualify.

    When will my rebate be paid?

    In most cases the bank will pay your rebate within a month of your loan settlement. But in some cases it can take up to 2 months.

    The exact date can vary between different lenders.

    Banks tend to pay the refinance rebate into your nominated transaction account whereas non-bank lenders typically deposit the funds into your loan account or mail you a cheque.

    Is it worthwhile to refinance?

    This is a common concern and it can be tricky. There is a fair bit of paperwork involved plus the hassle of changing banks. But in many cases it is worth the hassle:

    • You might be able to save a significant amount each month on your mortgage repayments
    • You might be looking at borrowing additional money for an investment
    • You might be thinking about a renovation or building a new home

    A good rule of thumb is when was the last time you reviewed your mortgage. If you have not looked at your mortgage in the last two years your are possibly (probably) paying too much. You could be paying hundreds of dollars more for your mortgage than necessary as many banks have reduced their interest rate to attract new customers but not passed on the same savings to existing customers…..