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Home Loan Refinance Deal - $1000 Extra Cashback on Top of Any Lender Offer for Balances over 400k

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Home Loan Refinance Deal - $1000 Extra Cashback on Top of Any Lender Offer for Balances over 400k
Go to Deal
AssociatedLAdrian Player on 14/04/2020 - 20:21 integralloansolutions.com.au (626 clicks)
Last edited 14/04/2020 - 20:46

Hi Everyone,

No matter the bank you choose and the offer you get with that lender you get another $1000 for using me as your mortgage broker. Ive kept the loan size for this offer at 400k as low as possible to help out as many people as i can.

My real goal is to give as much good old fashioned service as possible and if i can help you out now i hope you will continue to use me as your broker into the future.

Ill post a selection of offers available right now from different lenders including comparison rates below. Ive tried to make this as accurate as possible.

Current offers:

Owner Occupied

Owner Occupied 2 year fix P&I - ING - 2.09% rate 3.77% Comparison rate
Owner Occupied 2 year fix p&I - NAB - 2.29% rate 4.04% Comparison rate + 4k cashback from NAB
Owner Occupied 2 year fix P&I - ANZ - 2.19% rate 4.00% Comparison rate + 4k cashback from ANZ
Owner Occupied Variable P&I - ANZ - 2.72% rate 2.76% Comparison rate + 4k cashback from ANZ

Investment

Investment 2 year fix P&i - ANZ - 2.49% rate 4.53% Comparison rate + 4k cashback from ANZ
Investment 2 year fix P&I - Teachers mutual bank including emergency service workers & healthcare workers - 2.29% rate 4.04% comparison rate
Investment 2 year fix IO - ANZ - 2.69% rate 4.55% Comparison rate + 4k cashback from ANZ
Investment variable p&i - Suncorp - 3.08% rate 3.09% Comparison rate + 2k cashback from Suncorp
Investment variable IO - Citibank - 3.14% rate 3.19% Comparison rate

Current cashback offers from the major banks:

4k anz - Based on loan size
4k NAB
4k St George
2-3k Westpac
2k CBA
2k Suncorp

Sla’s: Time it takes to pick up a file

ANZ – 3-6 days
NAB – 8 days
Stgeorge and Westpac – 20-24 days - They are affected by covid-19 and had to shut down some sections of their credit assessment teams
CBA – 3-4 days
Suncorp - 5-7 days

Eligibility criteria
1.Loan applications must be submitted between 14 April 2020 and 31 May 2020.
2.Loans must be drawn down by 30 September 2020.

$1000 for loans 400k+ loan balance

A little bio about me:

Ive been in lending now for 10 years. 6-7 of those years were spent on a margin lending desk and as an in branch lender for Commonwealth Bank. The last 3+ years ive been a mortgage broker running my own sole trader company, ive got a loan support & just trying to keep the wheels turning during this corona virus.

Feel free to post a comment or contact me directly on the below details.

Business facebook page - https://www.facebook.com/AdrianPlayerFinanceBroker/
My first home buyers facebook group 250+ in the group - https://www.facebook.com/groups/1916779675065027/

Kind Regards

Adrian Player | Director

M: 0416643638

E: [email protected]

W: www.integralloansolutions.com.au

Adrian Player is a credit representative (498364) of BLSSA Pty Ltd ACN 117 651 760 (Australian Credit Licence 391237).

Financial Cashback Home Loan Loan Mortgage Broker Refinance

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closed Comments

  • Jonski on 14/04/2020 - 20:37
    +2

    I thought i saw ANZ had $4k cash? Apologies if im wrong

    • LemonShapedRock on 14/04/2020 - 20:41

      <strike> I think he means he'll give you $1,000 on top of the bank deal, so with ANZ it'll be $5,000 </Strike>

      Never-mind, misread your comment :)

      • Danger on 14/04/2020 - 20:45
        -1

        Why not $4k with ANZ if criteria met..Every other broker and ANZ bank itself doing $4k cashback

    • AssociatedAdrian Player @ Integral Loan Solutions on 14/04/2020 - 20:45

      Thanks for your message. Yes correct $1000 on top of any lender offer.

      ANZ recently changed to a 4k cashback ill amend the above post. Thanks.

      • Danger on 14/04/2020 - 20:54

        Thanks… When do we get that $1000 Cashback (i.e. One two month after settlement) ?

        • AssociatedAdrian Player @ Integral Loan Solutions on 14/04/2020 - 20:56

          Within 1 week of us getting paid by the aggregator. Normally its the 3rd week of the month after settlement.

      • Jonski on 14/04/2020 - 23:54
        +1

        Thanks for confirming. Im looking to refinance. I will email you directly.

  • world2160 on 14/04/2020 - 20:50

    Is your offer per loan? For example i have 3 loans to refinance.

    So if i go with ANZ - do i get 4000 X 3 + 1000 X 3 = $15000?

    • Maxdax on 14/04/2020 - 20:54

      my understanding is that it's per property, having said that I dont think very many lenders now offer more than one cashback irrespective of the number of properties (like CBA). happy to be corrected

    • AssociatedAdrian Player @ Integral Loan Solutions on 14/04/2020 - 21:00
      +1

      The offer is $1000 per refinance. But if you have multiple properties which total to a large loan size id be happy to discuss a larger rebate on a case by case basis ie 1 mill +. and id make sure what ever we agree on is listed on your lender documents.

      • world2160 on 14/04/2020 - 21:01
        +2

        What about the bank's cashback offer? Is it also per refinance?

        • AssociatedAdrian Player @ Integral Loan Solutions on 15/04/2020 - 06:35

          ANZ is 4k per client not per property.

  • dm01 on 14/04/2020 - 21:03

    Ask…and you shall receive…

  • Willyslicks on 14/04/2020 - 21:08

    Refi only? What about new loans?

    • AssociatedAdrian Player @ Integral Loan Solutions on 14/04/2020 - 21:11

      Send me a message on what you are looking to do.

  • Maxdax on 14/04/2020 - 21:18

    Hi OP - are these the best possible rates OR there is further room to move depending upon loan size>1M, for example, ANZ offered 2.69% in branch without much negotiation for P & I, Owner Occupier - you have quoted 2.72%, fixed-rate was same as yours 2.19%, any movement there at 80% LVR pls?

    • AssociatedAdrian Player @ Integral Loan Solutions on 14/04/2020 - 21:27

      We can always do pricing requests at the majors to see if they can give additional discount on the above headline rates. If you have an offer from a branch lender get an email from them confirming it and send it to me. I send a copy to my bdm at that bank and they match it + you get the extra 1k rebate from us on top of their offer.

      • Maxdax on 14/04/2020 - 21:37

        Thanks

  • countmein on 14/04/2020 - 21:20

    any claw back period? how long do we need to retain the loan with the bank if we go to variable (or 1 year fixed)? at least 12, 18 or 24 months?

    • AssociatedAdrian Player @ Integral Loan Solutions on 14/04/2020 - 21:24
      +1

      Claw back period varies from lenders. But most have 12 months 100% 18-24 months 50% clawback.

      To avoid any clawback issues i do a check in call at 12 months and reprice the loan if it has gone up, switch the product internally in that bank if needed or fix the loan with that bank to keep it competitive. Every 2-3 years i provide a comparison on what is out there and make sure your loan is still competitive.

      Every 6-12 months i do check in calls + emails monthly about RBA anouncements or any other major changes my clients need to be made aware of.

      I hope in doing things this way clients are ok staying for 18-24 months before moving to another bank.

      I hope if you lump sum pay the loan down or have to sell the property for any reason you give me the opportunity to help you with the next loan.

      With good communication i dont tend to have many issues with clawback as clients see the process and how client focused it is.

      • Danger on 14/04/2020 - 21:38
        +1

        How does claw back works? Does that mean banks take back $4000 (and $1000)if refinancing before 18/24 months?

        • Matt P on 14/04/2020 - 22:07

          The lender pays the broker for introducing your business. If you refinance to another lender within 18-24 months, the lender takes some/all of that introduction fee back.

  • jimmyzzzzz on 14/04/2020 - 21:44

    dammit I should really look into this, think I'm on 4% variable with virgin, cashed out my 3 year velocity anniversary points so have no loyalty now.

    • AssociatedAdrian Player @ Integral Loan Solutions on 15/04/2020 - 06:20

      Send me a message and ill see what i can do.

  • Big Deal on 14/04/2020 - 22:04

    Thanks OP. I am in process of refinancing with ANZ with my old mortgage broker (just the 4k cashback with no additional benefits). Can I change brokers now?

    • RDY4WR on 14/04/2020 - 22:52
      +4

      Tell your current broker about the offer. You wouldn’t be appreciative if you did work for someone then they picked up and left because someone else under cut them after your time and effort

    • AssociatedAdrian Player @ Integral Loan Solutions on 15/04/2020 - 06:22
      +1

      Thats up to you. It depends how far into the process of refinancing? Also i agree with RDY4WR if your current broker has already done work have a long hard think on your loyalty to your current broker. At the end of the day we are here to give you better options then going direct to a bank lender like a branch lender or mobile lender at a specific bank.

  • AkiraSaito on 14/04/2020 - 23:05

    Hi Adrian,
    just sent you an email with our home loan details.
    Looking forward to hearing from you
    Thanks

    • AssociatedAdrian Player @ Integral Loan Solutions on 15/04/2020 - 06:23

      Thanks Akira, Ill have a look this morning. I got quite a lot of messages over night so ill start going through them all now.

  • amsaini15 on 14/04/2020 - 23:53
    +1

    Excellent offer Adrian. Can you please help with few questions. Thanks

    1. what are total fees for taking up - Investment 2 year fix IO (2.69% rate 4.55% Comparison rate + 4k cashback from ANZ)?
    2. Can we split fix IO 400K (2.69%) and 250K variable (example amount) (variable IO Rate??)
    3. what happens after 2 years, does it change to variable IO? if yes, what is the current rate?
    4. Discharge cost for moving away from ANZ after 24 months?
    5. Is ANZ offer of 4K cashback per property or per person? Can I refinance 2 properties 400K each and get 8K from ANZ (I understand it will be 1K only from you)
    • stockastics on 15/04/2020 - 01:25

      Would like to know as well

    • AssociatedAdrian Player @ Integral Loan Solutions on 15/04/2020 - 06:31

      1.ANZ has a breakfree package on that product. here is a link to the product and the fees and charges - https://www.anz.com.au/personal/home-loans/package/

      395 annual charge which matches the other big 4 banks on the annual package costs.

      1. Variable IO rate is negotiated under a package i can do a pricing request for you with ANZ. Normally what i do is assess your income and how long you are fixing for to make sure you leave enough as variable to make extra repayments on. Expect the pricing to coming in the range of 3.30-3.45% depending on loan size.

      2. Lifetime discount on that product. The revert rate o that product is 4.64%. But you have 4 options. Negotiate the rate back down to match the lifetime discount on the other portion of the loan. Internally switch the product at anz to the basic no frills loan to get the rate down, re fix the loan for another period of time to get the rate down or as a last resort refinance out if you are unhappy at any stage. But historically ANZ has always had very strong fixed rates on these products that match up to the best 5 on the market for the past couple of years.

      3. If you are on variable after the fixed period expires there should be no discharge cost. The max ive seen them charge is 160 to discharge the loan in the past which isnt much.

      5.4k per person not per property.

  • Harvey zhang on 15/04/2020 - 09:06

    What happen if LVR is more than 80%? Do we need to pay extra insurance to a new bank?

    • AssociatedAdrian Player @ Integral Loan Solutions on 15/04/2020 - 09:53

      Yes correct, if you are above 80% lmi applies so we try to avoid it as much as possible.

  • proudwanderer on 15/04/2020 - 10:24

    In your title you say “balance over 400k” then in your description you say “loan size” - which is it?

    So say I have a loan size of 500k and cash of 300k to go into an offset account:

    1. Will the 500k “loan size” qualify me for your $1,000 rebate, OR

    2. Will the 200k net “balance” disqualify me for your $1,000 rebate?

    • jlim87 on 15/04/2020 - 11:16

      Upvote this question as I'd like to know. About to refinance soon. Does being able to put more/all in offset affect rebate and refinancing options?

      • proudwanderer on 15/04/2020 - 11:24

        It doesn’t affect the ANZ $4,000 rebate - as the only criteria that ANZ imposes is that the loan size needs to be over $250k regardless of the net balance (i.e. they don’t care how much you plan to put into an offset account)

        The only question is - will the broker (OP) still pay the $1,000 rebate if your overall net balance is small.

      • AssociatedAdrian Player @ Integral Loan Solutions on 15/04/2020 - 11:34

        Hi Jim, correct most banks pay on drawn balances ie net figure. They check it at time of settlement and for up to 12 months. So if you have a 900k limit loan by 899k in the offset/redraw your true balance is 1k. I get paid by the banks on the net figure as well. So the total drawn balance needs to be above 400k for this offer or the costs outweigh the benefits for me to supply the 1k cashback. I hope this explains it better for you.

        • proudwanderer on 15/04/2020 - 11:49

          I suspected as much.

          You really need to make it clear in your advertising that the $400k is the “overall net balance” for up to 12 months - and not “loan size” - otherwise you may be misleading people.

          Otherwise you might end up getting angry customers.

          Example:
          A customer might assume they will be getting $5k rebate coz they have a loan size larger than 400k. They go all the way to complete settlement and then shortly after settlement they chuck a large sum of cash into the offset account. Then they find out that you aren’t going to pay the $1,000 since their large sum of cash injection into the offset disqualifies them.

          In my above example - 500k loan, 300k offset, balance of 200k:

          Of course I can choose to inject only 100k in the offset and hold back the remaining 200k for 12 months just to qualify for your $1,000 rebate…

          However, the interest saved on a 200k balance vs a 400k balance far outweighs the $1,000 rebate that you are offering…

          • AssociatedAdrian Player @ Integral Loan Solutions on 15/04/2020 - 11:52

            @proudwanderer: Apologies for that ive tried to be as clear as possible. In the initial fact find call i do ask for balance in redraw and offset so ive never had a client get to settlement thinking they are getting a certain deal then they dont qualify. But i can appreciate what you are saying.

            • proudwanderer on 15/04/2020 - 12:14

              @Adrian Player: I understand completely that the bank pays you a commission for the referral (my guess is probably around 0.6% of the net balance at drawdown subject to clawback for up to 12 months), hence why if the net balance is very low - in your example, net balance of $1000 (900k-899k) will probably get you like $60 from the bank so obviously you can't afford to pay a $1000 rebate on this.

              Another example:
              What if my balance at drawdown was 500k, but after settlement, and over the course of 12 months, both mine (and my wife's) salary is being paid into the offset, so by the end of 12 months, the overall balance might end up being 350k —> which also disqualifies me for the $1,000 rebate (I assume you will have some way of asking me to pay it back in that scenario?)

              In your description you wrote:

              No matter the bank you choose and the offer you get with that lender you get another $1000 for using me as your mortgage broker. Ive kept the >loan size for this offer at 400k as low as possible to help out as many people as i can.

              I think this is misleading, as it implies that "you get another $1000" simply by having the "loan size" at 400k.

              Perhaps you should reword your advert to say that the customer will be getting exemplary service from you (as their broker) in helping them to finalise their refinance (documents, following up with the bank, etc) right up to settlement, and then also after settlement you will make the effort to look after their needs, etc.

              —> Instead of adverting the $1000 as THE incentive to use you as their broker - as it seems that way from your wording, but in actual fact, there are "conditions" associated with it - and it is NOT simply a flat $1000 rebate for "loan size" above $400k.

              I would argue that for new buyers, it is less likely to be a problem - since a new buyer is likely to have a large loan size and small amount of cash to go into an offset.

              However, for refinancers, the demographics could be very different. A refinancer would have had some years to pay off their initial large loan (so is likely to have smaller loan sizes), and would have had some years to save money (so is likely to have a decent sized offset amount). Hence, the probability of a refinancer disqualifying themselves from your $1,000 rebate is higher compared to a new buyer.

              Not trying to have a go at you - but I think you need to make these things very clear - otherwise people might feel cheated.

              • AssociatedAdrian Player @ Integral Loan Solutions on 15/04/2020 - 12:24

                @proudwanderer: I cant please everyone. Im always here to clarify and try to deal with everyone fairly.

                There is no clawback on the $1000. If you lump sum pay the loan off or sell the property then i hope with the service i have provided you will give me the opportunity of writing the new loan for you.

                A best interest duty was brought forward 6+ months ago for mortgage brokers. One key portion of that legislation is that we cannot get clients to sign clawback mandates anymore. It will start on June/July this year. So im in line with this legislation now and dont have clawback mandates.

                I just hope if i deal fairly with clients & supply good service then they will deal with me fairly.

                • proudwanderer on 15/04/2020 - 12:38

                  @Adrian Player:

                  There is no clawback on the $1000. If you lump sum pay the loan off or sell the property then i hope with the service i have provided you will >give me the opportunity of writing the new loan for you.

                  So what happens if (using your example from above):

                  1. I refinance a $900k loan - it is $900k at settlement/drawdown
                  2. I wait until you pay me $1000 (2-3 weeks after settlement perhaps?)
                  3. I then inject $899k into the offset account

                  No clawback? - and you won't ask me to pay back the $1000 you have already paid me since I am now disqualified?

                  • AssociatedAdrian Player @ Integral Loan Solutions on 15/04/2020 - 12:48

                    @proudwanderer: Is that what you are looking to do?

                    • proudwanderer on 15/04/2020 - 13:05
                      +2

                      @Adrian Player: No, but it is just an example inviting you to clarify your statement of "no clawback".

                      So, if I were intending to do that - it may be unethical yes, but ultimately is something that can be easily done (I'm sure other clients will have thought of this too)

                      Will you:

                      1. Absorb the loss - i.e. you have paid me $1000, but then the bank pays you much less (maybe $60 if it is 0.6% as I theorised), OR

                      2. Will you have some mechanism to make me pay you back the $1000 that you have already paid me (and which I am now ineligible for)?

                      And there is no opportunity for writing me a new loan - since I am not refinancing or buying a new property/getting a new loan.

                      Seems to be a huge loss for you if people try to take advantage of your "no clawback policy"!

                      • AssociatedAdrian Player @ Integral Loan Solutions on 15/04/2020 - 13:11

                        @proudwanderer: Im not sure how much clearer i can be every time i answer you, you seem to ask the question in a different way. And no i assess a clients full position prior to lodging a deal so if there is a large balance in offset / redraw or savings. Then discussions get had a lot earlier into the piece. But i appreciate you looking out for me.

                        • proudwanderer on 15/04/2020 - 13:44

                          @Adrian Player: Yes I know what you are saying.

                          But what if I don’t disclose that I have a large offset? I tell you that I have a 900k loan and zero offset. Then I wait a few weeks after drawdown until you have paid me the $1000 then I move $899k into the offset.

                          Yes - it is unscrupulous and not something I would do to you, but don’t doubt that there are people out there who will.

                          So if you don’t have a clawback policy and some mechanism for the client to sign that within 12 months if they disqualify themselves then they are required to pay back the $1000 - how do you protect yourself from people who will pull this over you?

                          Or what happens if I have a 900k loan and a 300k offset … then a month down the track I have a “nice relative” who gifts me 599k to inject into the offset?

  • cheapskateasian on 15/04/2020 - 12:06

    is switching from a variable to a fixed rate with the same lender (ANZ) considered a refinance?

    • AssociatedAdrian Player @ Integral Loan Solutions on 15/04/2020 - 12:10

      No that would be just switching the product internally at a bank.

  • R3b3l66 on 15/04/2020 - 13:50

    Hi Adrian, PM sent. Cheers.

    • AssociatedAdrian Player @ Integral Loan Solutions on 15/04/2020 - 14:44

      Thanks ill reply now.

  • petebern on 15/04/2020 - 14:13

    I have sent a PM regarding whether you can include business loans. Thx

    • AssociatedAdrian Player @ Integral Loan Solutions on 15/04/2020 - 14:43

      Thanks ive seen it. Ill reply now.

  • pinoy_ako07 on 15/04/2020 - 14:53

    Message just sent via oz bargain but also email sent as well. Thanks

    • AssociatedAdrian Player @ Integral Loan Solutions on 15/04/2020 - 14:55

      Ok thanks ill have a look.

      • pinoy_ako07 on 17/04/2020 - 08:57

        Hi Adrian, i see you have received a lot of emails. Just checking that you have received mine? I sent it on the 15th. Thanks

        • AssociatedAdrian Player @ Integral Loan Solutions on 17/04/2020 - 11:52

          Hi Pinoy apologies for the delayed responses ive spoken to around 25 clients, lodged 2 deals already for clients from the group, ordered 4 valuations that have enquired so far and im taking weekend appointments over the phone for anyone needing help, on both Saturday and Sunday. My loan writer has been helping me with the admin and my wife will assist me over the weekend with the paper work. So ill get on top of things by then.

  • yourflights on 15/04/2020 - 16:01

    If I bring 480K owner occupied refinance to ANZ through you, will I get 2.19% rate, 4K from ANZ and 1k from you? If so, how can I contact you.

    • AssociatedAdrian Player @ Integral Loan Solutions on 15/04/2020 - 16:03

      Yes correct. My contact details are in the post above. Feel free to send me an email or give me a call.

  • stefanko on 15/04/2020 - 16:03

    I just refinanced w nab, settled 2w ago, how soon can I refinance again to take advantage of this? thnx :)

    • AssociatedAdrian Player @ Integral Loan Solutions on 15/04/2020 - 16:06

      Most banks wont like you refinancing so soon after just moving banks. What is your current rate you got with NAB? Are your main reasons for moving again the cashback? is there any other reason for moving?

    • dumkaze on 15/04/2020 - 22:50

      Have you received 4K Cashback from NAB already ?

      What is your current rate with NAB ? I settled with NAB about a week ago

      • AssociatedAdrian Player @ Integral Loan Solutions on 16/04/2020 - 21:55

        Most banks pay within 30 days into your nominated account after settlement.

  • ssp88 on 15/04/2020 - 19:05

    I have 2 properties - one for Owners occupier and other for investment. Is it possible go with the Owner Occupier P&I variable and Investment loan fixed P&I or IO, as I can put extra on to Owners occupier going forward? I have large balance of offset, so net loan balance on owners occupier is pretty low.

    • AssociatedAdrian Player @ Integral Loan Solutions on 15/04/2020 - 20:55

      Send me an email and i can have a look if the total drawn balance across both properties is 400k or above im happy to supply the 1k cashback. I got through half of the enquiries today ill going through the rest tomorrow and Friday. Either way if i can find you a better deal and help you i will.

  • paul11 on 16/04/2020 - 14:09

    Hi OP, When is the broker rebate ($1000) paid?

    • AssociatedAdrian Player @ Integral Loan Solutions on 16/04/2020 - 14:10

      Normally i get paid by my aggregator the following month after settlement in the 3rd week of that month. I pay the 1k within 1 week of receiving comms from the lender into my account.

      • paul11 on 16/04/2020 - 14:22

        ok, Thanks. How fast is the process ? I see you mentioned ANZ takes 3-6 days to pick up the file ?

        If I send you all the docs today, when will I get the decision from the bank ? Next Friday ?

        I am asking as I am tired of waiting. I have contacted 3 brokers in the last 2 weeks, they were painfully slow. Usually takes 3-4 days to reply to an email.

        • AssociatedAdrian Player @ Integral Loan Solutions on 16/04/2020 - 15:58

          ive got a good loan writer if you get me documents i can have it lodged with a bank within 1-2 days normally. As far as the lender goes. Normally pre approved in 1-2 weeks with a few extra items that they need sorted. I would budget another 1 week to iron out all the kinks on the pre approval and another 2 weeks to settle. on an average 5 day sla as banks normally come back asking questions 2 to 3 times on applications. If the bank was 2-3 days normally everything is done is 1.5-2 weeks + 2 weeks to settle.

  • Danger on 16/04/2020 - 20:28

    General Question: Does home loan with Redraw facility allow to go personal saving to the loan account. Let's say I take $500K loan and have $100K in saving account. Does the bank allow to go $100k in the loan account straight after settlement which i can redraw later later on?

    • AssociatedAdrian Player @ Integral Loan Solutions on 16/04/2020 - 21:54

      If its a variable loan most banks allow any payment onto the loan which then sits in redraw which you can draw back out at any time. Or you have the other option of offset and sit the funds in there.

    • proudwanderer on 17/04/2020 - 12:03
      +2

      With redraw, it is not the same as having a savings account.

      Example:

      1) $500k loan, $100k extra repayment into the home loan account —> Balance: $400k

      • In this scenario you are effectively paying interest on $400k
      • However, if you want to access some money from that $100k you would have to request the funds first and maybe wait 1-3 days for the funds to be transferred to your savings account and then you can access the funds from your savings account (i.e. via ATM)
      • The amount requested to "redraw" is normally in lots of $1000 (i.e. you can't request $20 or $1010, etc)
      • People taking this option will normally have a savings account with some money in there (say $1000) that they can access immediately without waiting for it to come out of the home loan into savings account.

      2) $500k loan in the home loan account, $100k in the offset account —> Balance: Also $400k

      • In this option, the "offset account" is effectively the same as a savings account and you can access the $100k anytime/any day from an ATM
      • This is a much more flexible option rather than having to request the funds from the home loan account and then wait for it to be deposited into a savings account before you can access the funds
      • However, the products with offset normally incurs a "package" annual fee (i.e. $395) - hence why small lenders may not have products with an offset option because they sell their products based on advertising "low interest" and to do that they can't offer an offset option
    • proudwanderer on 17/04/2020 - 12:12
      +1

      General Question: Does home loan with Redraw facility allow to go personal saving to the loan account. Let's say I take $500K loan and have $100K in saving account. Does the bank allow to go $100k in the loan account straight after settlement which i can redraw later later on?

      Don't confuse "redraw" as the same as making a transaction from a savings account.

      Basically, it is a "Home Loan Account" - not a "Transaction/Savings Account"

      You can't just take money out of a "Home Loan Account" from an ATM whenever you wish and there is no ATM/Visa Debit card that comes with it.

      You normally have to "redraw" the money from the Home Loan Account to a Savings Account first then access the funds from the savings account.

      So to answer your question - yes the bank should allow "to go $100k in the loan account straight after settlement", but to "redraw later later on" will involve extra steps as I've outlined. It's not the same as sticking a card into an ATM and "drawing" money out.

      However, with the offset account you can do that —> it is essentially the same as a savings account - and you use it the same way as a savings account (i.e. ATM/EFTPOS) with the extra attribute of it "offsetting" your home loan such that the resulting balance of the loan (that you will pay interest on) = Home Loan amount minus offset amount.

      • Danger on 17/04/2020 - 20:05

        Thanks mate..This helps a lot..Wonder if redraw of funds can be done using internet banking or need to go to Branch for it

        • proudwanderer on 17/04/2020 - 20:23

          Can be done via internet banking.

          ANZ for example, you can redraw any amount, no minimum online and will be transferred to your ANZ savings account same day.

          See link: https://www.anz.com.au/personal/home-loans/your-loan/increas…

          What's the minimum amount I can redraw?

          There is currently no minimum redraw amount for eligible ANZ Home Loans and Residential Investment Loans.

          How long does it take for the money to be transferred into my ANZ transaction account?

          An approved redraw request completed via ANZ Internet Banking on a business day will generally be in your ANZ transaction account the same day.

          If your redraw request is processed over the phone, it may take up to two business days to transfer to your ANZ transaction account.

  • Danger on 16/04/2020 - 22:01

    Thanks mate.. I found that loan product with offset account always have higher interest rate.

    • Belfast123 on 16/04/2020 - 23:34

      Depending on the bank you get the offset with a variable home loan which is a higher rate than a fixed loan.
      Adelaide bank will offer 100% offset to their fixed loans (depending on product)
      CBA will offer 40% to the fixed loans
      ANZ will offer an offset with their 1 year fixed
      With these loans you will have an extra fee to pay $395 annually for CBA & ANZ and $15 a month for Adelaide Bank.
      Any other questions let me know.
      Thanks

    • AssociatedAdrian Player @ Integral Loan Solutions on 17/04/2020 - 06:06

      Yes most of the time the offset product is priced a little higher then the basic no frills redraw product and also incurs a 200-400 annual fee for having the offset in most cases. Send me an email or message. I can post a selection of lenders with different products so you can have a look and compare and find the right bank and product / fees / rate for you.

      • paul11 on 17/04/2020 - 14:12

        Hey @AdrianPlayer I am interested in the ANZ fixed loan for 1 or 2 year. Can I get an offset account with it ?

        • AssociatedAdrian Player @ Integral Loan Solutions on 17/04/2020 - 15:13

          The anz 1 year fix you can get offset against. The anz 2 year fix no you need a variable portion to sit against that product with an offset attached to it.

  • Lunarboogie on 17/04/2020 - 20:58

    Thanks OP. Great initiative of yours. Unfortunately, I’m only looking to refinance a mortgage of $250,000. I don’t suppose you have a sweetener for that would you?

    • AssociatedAdrian Player @ Integral Loan Solutions on 18/04/2020 - 08:32

      You can still qualify for the lender offers. Im still happy to help but i cant supply the 1000 cashback as that is the majority of my comm on that loan size.

  • pioneer17 on 18/04/2020 - 08:32

    Another lender had posted to give 0.3% rebate ( https://www.ozbargain.com.au/node/525547). Do you offer extra $1000 cashback on top of that rebate?

  • jubz on 28/04/2020 - 11:47

    I'm currently with ING 2.93% and 400k loan. So can I go with ANZ owner-occupied Variable P&I - ANZ - 2.72% with $4k + $1k rebate.

    What is the processing time for the switch? When do I receive this $4k + $1k rebate in my account?

    • AssociatedAdrian Player @ Integral Loan Solutions on 28/04/2020 - 12:20

      yes correct - 4k gets paid within 30 days of settlement by anz into your account. 1k from me is paid within 1 week of my comm coming into my account which is normally the 3rd week of the following month after settlement.

      ANZ is sitting around 7 business days sla right now.

      Send me a text or email and i can send some information across.

  • the crocodile on 28/04/2020 - 20:28

    Your site seems to be down:

    This site can’t be reachedwww.integralloansolutions.com.au’s server IP address could not be found.
    DNS_PROBE_FINISHED_NXDOMAIN

    • AssociatedAdrian Player @ Integral Loan Solutions on 29/04/2020 - 07:38

      Thanks ill check with my it guy whats happening. Ive just checked it now it seems to be up again. Fee free to use my email address above or my mobile number to contact me.

  • ujwols on 02/05/2020 - 09:03

    For refinance to ANZ are there any costs?
    Do they need to do valuation during refinance?

    For 650k loan can you tell what the approximate refinance cost will be? Wanted to see how much net I can profit if I refinance as there are always some hidden costs

    Also how long is the ANZ 4k cash back offer valid for? My loan is currently fixed with Nab until 11/06, so can't refinance before that

    • AssociatedAdrian Player @ Integral Loan Solutions on 02/05/2020 - 13:02
      +1

      Yes you need to do a valuation. ANZ covers that cost. normal costs will be 160 settlement fee anz 275 goverment charges of the transfer of mortgage anz annual fee 395 per year for the breakfree package + any discharge or fixed break cost from your current lender.

      ANZ you need to submit by the end of this month and settle by september 2020.

      Get a break quote for the fix if its close to expiry you wont get hit too hard in break costs.

  • In5tag8r on 10/05/2020 - 11:24
    +1

    though was good deal. great communication at start now nothing 2 weeks with 3 emails sent. don't know if it's applied for or not.

  • jubz on 12/05/2020 - 13:55
    +1

    Just wondering did anyone managed to apply for their loan with Adrian. How was the experience overall and the communication turnaround time?

    • AssociatedAdrian Player @ Integral Loan Solutions on 12/05/2020 - 22:42

      Ive sent you a pm as to my progress since posting this.

      • Ninjaboy on 19/05/2020 - 11:47

        Is Nab $4000 cash back offer still available?

        • AssociatedAdrian Player @ Integral Loan Solutions on 19/05/2020 - 12:43

          No it got closed down around 3 weeks ago.

  • goingDHfast on 25/05/2020 - 07:58

    Hi OP any larger cashback available for loans above $800k? Any chance you can offer $2k (ie; 2x $400k)?

    • AssociatedAdrian Player @ Integral Loan Solutions on 25/05/2020 - 08:49

      The largest for the lenders is 4k at the moment. But the ANZ offer is closing the end of this week. Send me a pm.

  • keithality on 27/05/2020 - 23:42

    Curious to know if anyone from ozb has used these guys and can give us a review?

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