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$4000 Cashback When Refinancing Your Mortgage (>$250k) Online with St. George

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$4000 Cashback When Refinancing Your Mortgage (>$250k) Online with St. George
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Viper8 on 14/11/2019 - 18:28 stgeorge.com.au (5554 clicks)
Last edited 15/11/2019 - 17:54 by 1 other user

Refinance cashback doubled from $2000 to $4000 for online applications.

Summary of deal:
"Get one $4,000 Refinance Cashback plus $2,000 cashback per additional property refinanced when you apply online by 31 January 2020 and settle by 31 March 2020. Available on Basic Home Loans and Advantage Package loans ($395 package fee, $0 fee for Basic home loan). Excludes Owner Occupier loans with interest only repayments and refinances from within Westpac Group. Min. loan size $250k per property."

I would like to make it clear that the in order to be eligible for the additional $2000 on top of the original $2000, the application must be online (not via broker or in-store).
The rebate is paid 60 days after settlement, with no clawback.

For additional info, please see "What else do I need to know?" and "Frequently Asked Question." below:
https://www.stgeorge.com.au/personal/home-loans/manage/refin…

I was going to take the $2000 standard St George refinance cashback in addition to cashback offered from a broker over a 24 month period (whom may go bankrupt or not pay-up), until I saw this updated offer yesterday. I canceled my application with the broker and have had my application online with St George confirmed as eligible for the $4000 rebate.

Also of mention: the lending Manager assigned to me is asking for a better rate than the default 3.44% (given you apply online there is no way to negotiate during your initial application). Apparently 3.1X% should be achievable on the Package.

Enjoy!

Update: I've been given 3.04% with ~70% LVR on ~$300k loan (Package).

Financial Home Loan Loan

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St.George Bank
St.George Bank

closed Comments

  • nightqueen on 27/11/2019 - 13:34
    +1

    Just electronically signed my loan documents, now we wait for settlement

    • newbiesh on 27/11/2019 - 19:23

      Same here and had todo one form with JP

  • wearabloodymask on 28/11/2019 - 11:37
    +1

    just completed this and got offered 2.99% with offset - stoked as currently on 3.29 with NAB

    • yellowfever on 28/11/2019 - 22:03

      Do you mind me asking what your loan value was and is this fixed or variable. Thanks

    • nightqueen on 29/11/2019 - 21:39

      that is so good, did you manage to waive the package annual fee? I managed to get basic loan with no offset.

    • thomalfa on 13/12/2019 - 09:32

      wow… do you mind to pm ur lender email address? My offer is pity… 3.07% with offset

      • wearabloodymask on 13/12/2019 - 12:49

        what loan amount are you asking for?

  • Korban Dallas on 30/11/2019 - 08:24
    +1

    Anyone with Suncorp? You can change your fixed loan to a var 60 days early.

    Anyone know if you can consolidate 2 suncorp home loans with Suncorp, then make the switch? Any fees to consolidate on this?

    • frazel on 12/12/2019 - 09:28

      I had my mortgage with bankwest, it was split over two separate accounts. St George didn't care.

  • organisedocd on 02/12/2019 - 13:10
    -1

    Has anyone received the cashback? How long does it take?

    • Viper8 on 02/12/2019 - 15:08

      60 days from settlement. In T&C's.

      • organisedocd on 02/12/2019 - 16:32

        yep - seen with other banks that its been more like 2 weeks even though it says 90 days from settlement etc. Would be good to understand how long stgeorge takes.

    • frazel on 12/12/2019 - 09:29

      I was told current cash back is between 30 and 60 days

    • rarelyscene on 17/12/2019 - 10:13

      I have. Applied 15 Nov. On 28 Nov the loan was settled with ING. I think on 16 Dec the loan was discharged as since then I can no longer see it on my ING internet banking and received the $4k on the same day. Net result of about $2.5k profit after taking out refinance fees and St George annual fee for advantage package.

      Also signed up for the transaction account so expecting $40 bonus as well as a credit card with st george so expecting credit card bonus points. All in all it was almost entirely seamless process, I was itching to leave in ING so to be paid to do it is satisfying.

  • dumkaze on 02/12/2019 - 16:00

    I have applied two weeks ago. Last week got message that my credit file is busy…

    Finally got approval today

    • organisedocd on 02/12/2019 - 16:31

      how many credit applications you had in the last 3-6 months?

      • dumkaze on 03/12/2019 - 12:45

        2 credit cards.. Actually citibank gave me 42k limit they asked me to close that card

        • nightqueen on 03/12/2019 - 22:55

          That's a massive credit card limit /liability

          • dumkaze on 06/12/2019 - 06:56

            @nightqueen: Closing credit card will dot the trick… now waiting for settlement

        • thomalfa on 13/12/2019 - 15:07

          wow… 42k limit? how do you do that with citibank? From what i read, ozb-ers said that they are the badass from declining applicant's application. Would be great to hear the trick… they got good offer on the signature credit card…

  • donbot on 02/12/2019 - 22:29

    Applied yesterday, first phone contact today. Of all information they are asking me for… St George credit card statement.

    I'd assume they'd have that already?

  • SuperSonic on 03/12/2019 - 20:18

    I am currently with Ubank for a 570k loan at 2.94% redraw account but the $4k cash back attracts me does it make sense to switch to St George ?

    • jobargain on 03/12/2019 - 20:49
      +1

      I say yes, you should be able to bank around 2k cash

  • nightqueen on 03/12/2019 - 22:56

    I got settlement booked in 2 weeks time. Leaving Loans.com.au, as they haven't been passing on the recent Rba cuts

    • jobargain on 03/12/2019 - 23:03

      Yours quick, I rang loans.com.au yesterday and they told me earliest settlement date would be 20th.

      • nightqueen on 04/12/2019 - 08:53

        I signed my loan documents last week and I returned my debit card in the mail

        • jobargain on 04/12/2019 - 11:21

          Signed mine docs from St George online last week as well, along with the hardcopy requiring JP done on Friday.
          Discharge authority back to Loans.com.au via email last week.
          Let see when I get my settlement

          • TheMidnightChef on 04/12/2019 - 13:33

            @jobargain: How long did it take loans to send out the discharge form?
            I had a missed call yesterday, rang them today and they said up to 5 working days to email a damn form. All of their systems do seem rather archaic though, so I assume when they say 'email' it will be dropped off by a carrier pidgeon.

          • nightqueen on 04/12/2019 - 13:42

            @jobargain: I didn't need a hard copy to be signed by JP? Looks like the process is inconsistent. I'm booked in for two weeks now. Did you go with offset or the basic loan?

            • jobargain on 04/12/2019 - 14:27

              @nightqueen: Basic…the one that need witness is the loan doc from St George…I am pretty sure everyone needs to get that signed.

              • TheMidnightChef on 04/12/2019 - 15:06

                @jobargain: I didn't need to get anything witnessed by a JP. All forms were online and digital signature except a 'discharge authority form' which I had to print off and fill out. Half of it didn't make sense to me so the St George guy filled in the blanks.
                Did you have to go into a branch and do a verification of identity form? I had to do that. Maybe it's one or the other?
                Edit: sorry, it looks like I'm replying to the wrong person.

                • jobargain on 04/12/2019 - 19:15

                  @TheMidnightChef: There's a "Mortgage Form" from St George that you need a witness signature which could be a JP or other qualified persons.

                • nightqueen on 05/12/2019 - 19:09

                  @TheMidnightChef: I didn't need to get anything witnessed. I did have to go to my local branch for an passport ID check. I didn't even need to fill in a discharge authority form.

    • jobargain on 07/12/2019 - 08:58

      May I ask how much fees you have to pay to leave loans.com.au?

      • nightqueen on 13/12/2019 - 22:33

        I think it's 750-1000 to leave for admin and discharge fees

  • phynicle on 05/12/2019 - 16:21

    I'm trying to work out what the system is telling me.

    Offer 4% variable with full offset 25 year loan.

    Amount to be paid out (my balance on current loan):$265,000
    New Loan Amount:$205,000???

    Why does it not equal the existing balance to be paid out?

    Any help, i really just want to get to the min $250K to access the $4K rebate.

    OK Just figured it out:
    New Loan Amount is a mis-wording from St George, that jsut means i have potential to take out another $205K on top of amount to be refinanced

  • [Deactivated] on 06/12/2019 - 09:14
    +1

    Did anyone manage to waive first year package fee?

    • rarelyscene on 17/12/2019 - 10:06

      I asked but not luck, was told because I received $4k then no can do.

  • chippy03 on 06/12/2019 - 11:33
    +2

    Completed online and offered 2.99% with full offset. Phone call from (a real) lender same day. After discharge costs will still have $3.5k in my pocket. Can't wait to get out of my current bank.

    • organisedocd on 07/12/2019 - 08:37
      +1

      Loan amount?

      • chippy03 on 09/12/2019 - 12:15

        $400k variable

        • fozzie on 04/01/2020 - 22:37

          Mmm, I wonder why you were offered offset at 2.99. I have a mortgage of $595k, but offset they could only do 3.12 so I went for the basic as its 2.99% and no costs.

    • thomalfa on 13/12/2019 - 09:25

      wow… 2.99% variable with full offset? who's your lender, can pls pm his/her email address? this looks like too good to be true… i got offered only 3.07% with full offset… not happy….

      • fozzie on 04/01/2020 - 22:38

        Same here, I can’t remember if 3.12 or 3.07. I doubt someone would get 2.99 on such a small loan.

        • thomalfa on 20/01/2020 - 13:45

          mine lvr 80% 800k still wont budge on 3.07%… but this month i see they advertise at 3.04% package. probably need to ask if can get lower to 3.04%

  • tamlea on 06/12/2019 - 11:35
    +1

    So excited… Current home loan with CBA, applied online, had a lender call me within 2 hours of submitting my application. The lender could not be more helpful. Fingers crossed all goes well - who doesn't want 4k to celebrate the new year #winning

  • dumkaze on 06/12/2019 - 16:11
    +1

    My loan is settle today.. Very quick… I have moved from IMB to st. george

    • jobargain on 06/12/2019 - 16:30
      +1

      Gosh, you are quick. Well done.

    • nightqueen on 06/12/2019 - 17:52
      +1

      So good. 60 days and you have the sweet 4k

  • dumkaze on 07/12/2019 - 06:56
    +1

    Yesterday settlement went through now I have loan with st George . I transferred extra 5k to loan account. But I can not redraw extra amount have transferred. I have applied for basic loan

    • jobargain on 07/12/2019 - 08:57
      +1

      You cannot redraw in the first month

      • dumkaze on 07/12/2019 - 10:22

        I wonder why … 5k stuck with them for a month now

        • jobargain on 07/12/2019 - 12:27
          +2

          I believe thats in their T&C, but I actually asked this question with my lending manager and he kindly reminded me this fact.

  • dumkaze on 09/12/2019 - 22:55

    Last week got home loan from st george. I am just wondering if I apply for credit card will do that another credit check or not … thinking to get 80k points for 139 fees

    • Viper8 on 10/12/2019 - 00:15

      Yes it will. Every time you apply for credit that's a new line on your credit file.

  • whatif on 10/12/2019 - 22:51

    Got approved for 3.04% with full offset. Overall very good experience. Waiting to finalise paperwork and settlement now.

    • JohnHowardsEyebrows on 10/12/2019 - 23:52

      June sharing your LVR and approximate loan amount?

      • whatif on 11/12/2019 - 00:33
        +1

        LVR 80%, $369k. 100% variable.

        • JohnHowardsEyebrows on 11/12/2019 - 07:51

          Thanks, that's a really good rate. (Don't know how I wrote 'June' above)

        • thomalfa on 13/12/2019 - 09:28

          $369k @3.04% full offset still better then my offer… i was offered 3.07% full offset @600k… not happy… btw can pls pm ur lender email add? Ta

    • Saj on 19/12/2019 - 08:59

      Have they waived the $395 package fee?

      • whatif on 19/12/2019 - 10:37

        No.

  • macr0hard on 11/12/2019 - 13:57

    So just got the email that my loan has been formally approved. Does anyone know what the next step is? I already have the discharge form from ING. Do I fill it out then submit back to them or do I pass it on to St George? I'll be overseas from 25 Dec, not sure if that's gonna give me enough time to get everything sorted :(

    • Viper8 on 11/12/2019 - 14:03

      ID verification in-branch then e-sign the home loan docs and get your transaction account opened up. This is where I'm up to due to some delays. From there they should manage settlement with your previous bank.

  • hanofee on 12/12/2019 - 13:45

    BoM offers the same for VIC as other mentioned, link is here:
    https://www.bankofmelbourne.com.au/personal/home-loans/refin…
    I submitted mine earlier today, but it's only allowing 52% LVR (for investment) no matter what numbers I changed. So, submitted with that, and hope they'd be able to go a bit higher when processing later. I already have 1 loan with BoM (refinancing my investment with other bank), but the T&C doesn't say "new customer", so hopefully I'm still eligible

    • Viper8 on 12/12/2019 - 15:02

      BoM and St George offer identical products, just different branding used differently in different states.

  • macr0hard on 14/12/2019 - 15:11

    Has anyone received their documents yet? I have just received mine and started to go through them now. There's an establishment fee of $600 plus admin fee of $10/month. I think I need to call the loan person, when we spoke he said there's only a $100 settlement fee.

    • Viper8 on 14/12/2019 - 15:58

      Package should reduce it down to $100. No package and you pay them all.

      • macr0hard on 14/12/2019 - 16:04

        thanks. I'm also not seeing any package fees mentioned in the docs. Was it there in yours?

        Also, i've only been with ING almost 6 months. I'm afraid the broker is going to make me pay some sort of clawback fees to them. Will that happen?

        • jobargain on 14/12/2019 - 17:10

          Very likely if you went through a mortgage broker, better check your signed docs or ring your broker to confirm.

        • Viper8 on 14/12/2019 - 18:40

          You must have gone for basic then.

    • dumkaze on 14/12/2019 - 16:45

      I got settle last week . For Basic loan they charge $100 and other bank charge $350 discharge fees

      • jobargain on 14/12/2019 - 17:19

        Plus any Govt. charges re mortgage registration and de-registration, also title search fee.

  • Viper8 on 14/12/2019 - 23:19

    Got my docs. On one of the forms there's $1000 in legal fees in addition to the total ~$900 in settlement, exit and government fees. This is the first I've heard of the $1k legal fee. Anyone know what the deal is?

    • Viper8 on 16/12/2019 - 09:45
      +1

      For anyone else facing this: "You won’t be charged the Legal Fees – there is no Legal Fees with Refinances, so that’s just something that shows there."

  • donbot on 15/12/2019 - 08:10

    Got bank docs… But basic details are wrong. Birthdays aren't right, income isn't right (understated, not over).

    Seems a bit a schmozzle. Got to resolve the birthday thing as I can see that coming back to bite with it being wrong on all accounts.

    What dates are people getting on advantage package? 3.05%, 70% LVR, above $500k borrowing. Had hoped for it to be <3%.

    • Viper8 on 15/12/2019 - 09:48

      Most 3.04%. Some +-0.05%.

    • G-Unit on 16/12/2019 - 14:23

      My paperwork was also a schmozzle with the inclusion of a $500 charge that is normally waived for basic mortgages (I've been told it will be refunded), misspellings on my work history etc. etc.

      What's also very frustrating is the fact they haven't organised debit cards for us depsite settlements only being 2 days away. I had similiar issues several months back when it came to receiving my St George credit card. The bank seems to be a bit disorganized and amateurish when it comes to sorting out basic administrative tasks.

      • donbot on 16/12/2019 - 15:59
        +1

        Yeah I said the same to my lender today. Apparently the DOB is wrong from her previous history with St George (which was a nightmare to get a CC issued ages ago), but they can sort out in branch when doing her ID. No need to reissue bank docs which is a win.

        I havent got debit cards as yet either or transaction accounts other than bulk offset which we wont have a debit card linked to… at this point, thats a problem to tackle in January, not pre-Christmas. As you said, bit disorganized for sure… but no transition ever runs smoothly with banks.

        As long as settlement happens ASAP, I'm happy. The rest I'll sort out after the man in the red suit visits.

    • F-22 on 16/12/2019 - 22:01

      I can't even get my lender to reply to emails. This has to be the first time i have to chase a bank to get a loan.

      • thomalfa on 17/12/2019 - 12:57

        likewise… i chased up mine… and end up not happy with the rate offered… i'm looking to approach other lenders…

  • wearabloodymask on 16/12/2019 - 14:24

    does anyone know if you can have multiple offset accounts?

    • wearabloodymask on 16/12/2019 - 14:51
      +1

      just did live chat and found out answer to my own question - yes you can have multiple

    • Viper8 on 16/12/2019 - 15:32

      Apparently you can have up to 99 transaction accounts, but only 4 offset accounts.

      • wearabloodymask on 16/12/2019 - 15:33
        +1

        thanks for clarifying - 4 is enough for me

      • Tapori on 07/01/2020 - 00:49

        Are these multiple offset accounts free under Advantage package?

    • thomalfa on 17/12/2019 - 12:56

      i was told that you can have as many as offset acc's… the lender may tells you the correct information…

  • nightqueen on 17/12/2019 - 15:45

    Settlement planned for today. Hopefully it goes smoothly

    • jobargain on 17/12/2019 - 16:02

      All the best, mine is Thursday..can't wait

      • nightqueen on 17/12/2019 - 22:12
        +2

        Thanks jo, let me know when you get the 4k Cashback

  • Jayclemente on 17/12/2019 - 20:06

    Hi there! Anyone has encounter FASTRefi?

    • rarelyscene on 17/12/2019 - 20:49

      That’s the route I went through to settle the loan in a couple of days from ING to St George.

      • nightqueen on 17/12/2019 - 22:11

        Loans.com.au couldn't do the FASTRefi so did it the old fashioned way

        • TheMidnightChef on 18/12/2019 - 08:58

          I'm with loans.com.au and mine is going through something called PEXA? Haven't seen any reference to 'FASTRefi' in my correspondence.

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