This was posted 13 years 8 months 23 days ago, and might be an out-dated deal.

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$150 Extra on Top of Your $1000 Cash Back, Direct to Bank Referral - No Mortgage Brokers

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$150 Extra on Top of Your $1000 Cash Back, Direct to Bank Referral - No Mortgage Brokers
Go to Deal
AssociatedLneo21 on 04/04/2011 - 22:02 weshare.com.au (318 clicks)
Last edited 05/04/2011 - 13:33
ozbargain

We Share are not mortgage brokers. Borrower's receive the same loan as if you walked straight into the bank, same interest rate (in most cases better), same term, even the same banker. We Share refers borrowers direct to the mobile banking staff of the borrowers choice.

Then gives back for the average sized loan $1000plus depending on the lender.

This service costs the borrower ZERO, there are no extra fees or charges by We Share or the bank. I repeat the bank, nor We Share charge borrowers any extra, this is a free service. Feel free to ask the bank.

We Share gets paid a 'finders fee' for each successful borrower they introduce to the bank. They then refund the majority of the money back to the borrower and their franchisees.

All We Share need is for the borrower to complete a 2 minute application form, which is sent directly to the borrowers choice of bank.

We Share also have a refer a friend EARN $100 for those who know friends currently in the home loan market.

Furthermore the refund is an add on to the already cash bonus given by CBA ($1200) NAB ($1000) and St George ($700) for refinancing. That's a $2000 incentive to change banks.

If you or a friend is going direct to the bank, ensure you stop them and direct them to We Share.

  • For the month of April, if you place in the referral box within the application form, you were referred by OZBargain, We Share will give you an extra $150.
Financial Banking Commbank Home Loan Loan NAB St George

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closed Comments

  • Associatedneo21 @ weshare.com.au on 04/04/2011 - 22:06

    I have answered a number of questions within this forum below

    http://www.ozbargain.com.au/node/42208#comment-428883

    • clandestino on 04/04/2011 - 22:54

      neo21 - you can vote for this deal too, hit the green plus sign at the top left…

      • tomsco on 04/04/2011 - 22:56

        no he can't

        • clandestino on 04/04/2011 - 23:18
          +1

          ok, I thought that you could vote for your own deals? Perhaps that was in the good old days.

        • tomsco on 04/04/2011 - 23:50
          +1

          normal users can, reps can't… sorry, my last comment was a bit abrupt :p

      • issh on 04/04/2011 - 22:58

        he's a nice rep!

  • tomsco on 04/04/2011 - 22:55

    posts tl;dr

    Is this simply the other deal plus an extra $150? Why wasn't it posted in the other thread.

    • andy19363 on 04/04/2011 - 23:54

      The other became a forum post, so not seen on the 'deals' page

  • POWERevolution on 04/04/2011 - 23:02

    is this similar like refund home loans but extra cashback?

  • shopaholic32 on 05/04/2011 - 06:07

    Not a deal, if you have a good broker like mine you ended up with a much better deal!
    I got 6.90% loan from my broker with no application fees and only $120 p.a, as oppose to your 6.97% with $395p.a with NAB….funny how you negotiate a worse deal and claimed a good deal!

    • marquise on 05/04/2011 - 06:49

      Did you manage to get them to waive the yearly package fee every year?

    • Associatedneo21 @ weshare.com.au on 05/04/2011 - 07:23

      I can get 6.8% from St George with no application fee and pay the We Share cash bonus. Is this a good deal?

      • shopaholic32 on 05/04/2011 - 09:02
        +3

        Good try Rep of pulling wool over the unsuspected eyes, I had done my fair share of homework and unless I am proven wrong the 6.80% you quoted is the 1% discounted rate for 1 yr only off the 7.8% SVR and is "honeymoon rate" from St George! Because after the 1yr it goes up to 7.10% (after the relevant discount of 0.70%in second year), my broker warned me off that. And by the way your NO application fee mentioned did you also forgot to conveniently mention there is $395p.a in the Advantage Package Fees.
        I only pay $120p.a, with a 100% offset account included too! If you can beat that then it is a good loan and I would gladly removed the neg.
        Based on my calculations on $300K loan difference of 0.20% 6.90 Vs 7.10% after the honeymoon year, 2nd year onwards is $600 every year + annual fees of $275p.a difference ($395-$120) makes a grand loss of $875p.a! Not exactly a bargain is it?
        Would have publish the lender but it is not fair to my broker who really worked hard to get the right deals for me and others.

        • Ruckus on 05/04/2011 - 09:41

          Which mortgage broker did you go with to negotiate that deal?

        • slikguy on 05/04/2011 - 09:47

          i'm more interested in which bank you got that from

        • CyberMurning on 05/04/2011 - 10:00

          ok then, i will use your broker once i can get out from westpac without paying $600 (early termination)~! im serious. i think westpac isnt good.

        • surm on 05/04/2011 - 11:03

          shopaholic32,

          Who is your mortage broker?

          Thanks

        • Tiger on 05/04/2011 - 14:14

          shopaholic is correct, there are better deals out there if you deal with a quality Mortgage Broker. However, shopaholic also fails to mention that the rate he/she got is only available if he/she borrows less than 75% of the property value, which is not realistic for everyone.

          If you borrow less than 65% of the property value, my Sydney based Mortgage Broker can get 6.88%p.a. variable (ongoing, not honeymoon) with no upfront fees, no ongoing monthly/annual fees and unlimited transactions into/out of the loan with no minimum transaction amount and ATM access. This loan is not available through Weshare as it is exclusively available through selected Mortgage Brokers, just like the loan (from a different lender) that shopaholic mentioned. The interest rate is only 0.1% higher if you borrow more than 65%.

          On that point, We Share only have 5 residential lenders on their panel - the major 4 banks, plus St George. They aren't recommending any of these lenders, just asking you to refer your business through them. Therefore what value are they really adding other than the cashback? A Mortgage Broker will do a full needs analysis on your current circumstances and future goals before offering you a written recommendation from a panel of over 30 lenders (some unavailable directly like the 2 mentioned above). There is a lot more value added by a Mortgage Broker who usually also charges no fee to the borrower and follows up after the loan starts (and annually in some cases).

  • CyberMurning on 05/04/2011 - 09:15

    ah… its so hard to try making m0ney in ozbargain.com.au hahahaha lol
    yeah, when is the fee for moving between lenders will be gone? has it announced by government yet?

    • 31mop on 05/04/2011 - 09:22

      It's a load of hogwash - they just charge you an extra 0.1% over the life of the loan so you're no better off. Banks aren't stupid you know.

    • Tiger on 05/04/2011 - 14:19

      Yes, starts 1st July, but won't neccessarily apply to existing loans, only new loans. Expect application fees to increase after 1st July.

      • shopaholic32 on 05/04/2011 - 15:54

        Hi Tiger, thanks for the insight, I am no expert so will help me to understand your broker deal better, does your loan for 6.88% have a full 100% interest offset account or just the old Redraw system as apparently the redraw system is not tax efficient for me and causes "loan contamination" in tax terms as I was explained to by my planner.

        • Tiger on 05/04/2011 - 16:08

          Hi shopaholic, you are correct again. The 6.89%p.a. loan has no offset account, but has unlimited/unrestricted redraw. This can cause loan contamination if you are using the loan for investment purposes, however, this can be easily overcome by establishing a second (smaller, say $20K) interest only loan to operate as the "transactional loan component" (ie operate like the Offset account") into which salary and rent can be deposited.
          This is not an issue for home loans, only investment loans.

        • shopaholic32 on 08/04/2011 - 21:35

          Thanks for the advice and checked with my planner and definitely not for me as this is an investment property, in fact he does not recommend the old redraws system because of the inflexibilities and said better off paying that little bit extra of 0.02%. I guess everyone has a different opinion but thanks for sharing.

  • shopaholic32 on 05/04/2011 - 14:43

    Without compromising someone else's livelihood, I can't say a lot more for privacy reasons but I can say that my loan is around $260K and less than 75% LVR (loan to value of the property) and is from fully funded from one of the Big 4 bank, so is secure and not from any dodgy lenders.

    I did not use this as advertising space but merely responding to those interested and rather than me getting involve. FYI, had the same broker for nearly 8 years and he is only a sole director company but is fully accredited with the MFAA (main mortgage industry body in Australia) and contracts his services to major financial planning firms in Sydney i.e licensed Financial Planners use his services for their firm.

    Had spoken to him and he says you can contact him directly at his disposable email account at [email protected]. He does not want to get any hate mails from competitors and alike, as he is merely doing his job at getting his client the best possible, based on their circumstances and is happy with sharing commissions if deal is genuine and not time wasters picking his brains.
    So if you are genuine he would be able to help source the ideal mortgage based on your circumstances…..LOL, I should get a commissions for this, just kidding…..hope it helps those who asked.

  • Associatedneo21 @ weshare.com.au on 19/05/2011 - 17:04

    Hey Guys, I can't edit this advert, but NAB and St George have extended their further cash backs until the 30th of June 2011.

    Great News is just from this posting over $50,000 has been sent back to borrowers by We Share and our lenders.
    This is money they would not have gotten without We Share.

    Ensure you tell all your friends and family

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