Third-Party
Hi all,
Anyone used this company?
http://www.cashbackmortgage.com.au
A few rates 0.5 under the bank direct offers + kick back.
Cheers
Cashback Mortgages - Anyone Used This Company?
tunzafun001 on 22/06/2017 - 14:28
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I have. What did you want to know?
Just the general experience? Catches / traps? Advice?
The process was really easy. Jon from Cashback was my mortgage broker there and all our contact was through email and phone calls as he's based in QLD. He would provide email updates and reminders to make sure everything was on track and even followed up after settlement to make sure the mortgage payments were correct. I received the cash back about 1-2 months after settlement directly into the offset account. Probably the best mortgage broker experience I've had providing sound advice and good follow up service. I should point out I already knew the ins/outs of mortgages and interest rates so his advice was more so around which lenders had better rates stricter lending requirements.
The only catch is that if I change mortgage products within the first 2 years I have to pay back just over twice the cash back amount. I'm assuming this is to claw back any commission he loses. After 2 years I'm free to swap providers and/or products.
Thanks I'm in a similar position. Have refinanced 4 times previously and these guys are offering a better price than my lender i'm currently with (even after a 1 hr convo with a manager).
So no extra fees chucked in other than the commission exit penalty? ie. I have never paid an ongoing fee or application fee to date, ever.
Cheers
@tunzafun001: No extra fee's. I'm with ING so I pay their annual fee but nothing to the Cashback company.
You could try these guys (https://cashbackclub.com.au) as an alternative, but, I've never used them.
seems no one at OZb.