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$2k Cashback + $1k Online Bonus Cashback for Owner Occupier Refinance + $2k for Each Additional Property Refinance @ St. George

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$2k Cashback + $1k Online Bonus Cashback for Owner Occupier Refinance + $2k for Each Additional Property Refinance @ St. George
Go to Deal
AssociatedJohnKKMK @ Mortgage Better on 18/07/2020 - 00:56 stgeorge.com.au (526 clicks)
Last edited 22/07/2020 - 16:55 by 1 other user

St George Refinancing Cashback deals

P&I packaged HOME LOAN
* 2.24% for 2 years fixed for home loans (CPR 3.45%)
* 2.24% for 3 years fixed for home loans (CPR 3.38%)

P&I packaged INVESTMENT LOAN
* 2.64% for 2 years fixed for investment loans (CPR 3.97%)
* 2.64% for 3 years fixed for investment loans (CPR 3.97%)

please note:
* application must be submitted before 27 August 2020 and settle by 30 September 2020.
* $250k min loan per property refinanced
* <80% loan to value ratio
* other lender criteria may apply

Other things you should know
* The typical total refinancing cost averages around $600 - $700 which includes existing outgoing lender discharge fee and government charges.

Financial Home Loan Loan Refinance

Related Stores

St.George Bank
St.George Bank
Mortgage Better
Mortgage Better
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closed Comments

  • mintygirl on 18/07/2020 - 06:36
    -8

    The comparison rates kill the deal…

    • [Deactivated] on 18/07/2020 - 07:02

      Comparison rate serves lil purpose as it assume variable rate at the end of loan term over a 30yrs term.

      • AssociatedJohnKKMK @ Mortgage Better on 18/07/2020 - 09:17

        Thata correct. Comparison rate uses several assumptions whichbis most often irrelevant to most customers. But by law banks and brokers must advertise this

  • Metre on 18/07/2020 - 07:17
    +3

    St.George might be the worst financial institute I've ever come across. For whatever deals they offer, it's not worth the headache.

    • [Deactivated] on 18/07/2020 - 11:53
      +2

      Sounds like banks in general.

  • Ash-Say on 18/07/2020 - 08:22

    Where is 2.64% listed for IP? I can only see 2.69% online with package.

    • conan2000 on 18/07/2020 - 09:07

      Brokers sometimes have access to better deals that what you can get directly with the banks, so guessing that's the case here.

      • [Deactivated] on 18/07/2020 - 11:54
        -2

        Not true. Whatever broker can get could be obtained directly from the banks through pricing application - and that rate is usually lower than advertised to the general public.

  • trev likes bargains on 18/07/2020 - 08:32
    +1

    What are the ongoing fees?

  • MuddyClear on 18/07/2020 - 08:38

    Is it usually fixed rate when you refinance?

    • AssociatedJohnKKMK @ Mortgage Better on 18/07/2020 - 09:15

      Hi Bongo
      Thats up to you but most of my customers are going at least largely fixed given fixed rates are better right now. Thanks

      • MuddyClear on 18/07/2020 - 09:23

        After fixed you’re reverted to a much higher interest rate. No thanks

        • tunzafun001 on 18/07/2020 - 11:58

          That's why you just leave … *Note - this guy ports… mortgages.

  • alz on 18/07/2020 - 08:40
    +3

    FK ST GEORGE

    Got rejected by them so went over to NAB and got exactly what i was looking for + 4k cashback.

    • [Deactivated] on 18/07/2020 - 08:46

      Are they still doing this deal?

  • RDY4WR on 18/07/2020 - 09:58

    2.09 and 2.14 is out there for owner occ and you can get 2.34 and 2.49 for inv PI.

    • bluebluebird on 18/07/2020 - 10:26

      Which one - can you advise?

      I am contemplating for Virgin Money for $2500 cash back and 2.69% Variable rate (or fixed at 2.19%) - this for Owner Occ

      • radissimo on 18/07/2020 - 10:47

        I have 2.09, fixed 2 years,O/O, HSBC

      • AssociatedJohnKKMK @ Mortgage Better on 19/07/2020 - 23:19

        depending on your loan amount, virgin might be better, or citibank 2.49% with $2k cashback. happy to provide more info if you would like, please contact me via phone or email.

        • thomalfa on 20/07/2020 - 15:55

          Hi John, 2.49% basic loan or with package?

          • AssociatedJohnKKMK @ Mortgage Better on 20/07/2020 - 17:00

            @thomalfa: Hi, it's for the basic.

  • mr fox on 18/07/2020 - 10:13

    I started refinancing with St George/BoM first week of March. The process is ongoing. It is hilarious how inefficient and slipshod the process is. 20+ emails and dozens of documents submitted. Hardly worth it for 4k.

    • [Deactivated] on 18/07/2020 - 11:58
      +1

      Lodge a complaint with AFCA. Put up a case that by delaying, there is a real cost to you - e.g. your loan to be refinanced just finished the "discount" fixed/variable rate and you have been charged with their "standard" variable rate. Should get an additional few hundred back.

    • mr_asstight on 18/07/2020 - 12:03
      +1

      Westpac took 5 months for me. "COVID" issues

    • Moo Deng on 18/07/2020 - 13:08
      +1

      My sister is in the same boat - 65 emails later and still ongoing also refinancing from BOQ -> St George

    • AssociatedJohnKKMK @ Mortgage Better on 19/07/2020 - 23:18

      Hi Mr fox,
      depends on how well your application has been put together and if required supporting documents were missing.
      I've had an application approved in 2 days recently with St george. So it's won't be very accurate to make a blanket statement. but definitely understand your frustration in dealing with banks. hence 60% of aussies are now using brokers. but like any profession even between brokers the skill, experience and quality varies far and wide.

      • mr fox on 20/07/2020 - 21:18

        Indeed. For what it's worth I used a broker….

  • Crown3d on 18/07/2020 - 10:31
    +1

    I took advantage of the 4K cash back offer they were doing in dec/Jan it all went super smooth, from start to finish took a month at most. Even got the 4K cash back shortly after joining, ive had no issues with them

    • wjchi5 on 19/07/2020 - 21:23

      Did they require 3 months daily transaction details? Cheers

  • carlJack on 18/07/2020 - 12:22

    Any thoughts on this?

    • thomalfa on 20/07/2020 - 15:59

      this looks delicious… for people with not enough deposit…

  • [Deactivated] on 18/07/2020 - 13:22

    Is it really worth the $3k or $2k cashback, when a refinance:

    1. Affects your credit rating because the new financier has to access your credit history. (Happy to be corrected on this)
    2. The interest rate isn’t that attractive.
    3. The amount of paperwork and hassle you need to go through.
    4. The actual net cashback will differ for everyone (when taking into account fees and charges).

    Happy to be negged…if you don’t agree.

    • Kinko82 on 18/07/2020 - 18:56
      +1

      Thats why you have to look at the cost benefit calculations and how it fits in with your plans.

      These rebates can be very helpful for someone breaking out of a current high fix rate where without the rebate it wouldn't make sense to refinance.

      The interest rate may not be attractive to you but might be competitive for someone else depending on their scenario and situation. Not everyone is able to go athena/reduce/tiktok/ubank home loans.

      Theyre not increasing their rates as a result of cash back so it is an actual bonus on top.

      I think the main message is don't allow the rebate to drive your decision making but get your banker or broker to compare the overall financial benefit of staying with your current bank versus moving to another bank.

      The rates posted are also subject to negotiation too based on your loan amount and the % youre borrowing.

    • mr fox on 18/07/2020 - 19:05

      4k, not 3k or 2k.

      I'm not worried about my credit history, we don't apply for credit cards very often unless there's a monster offer and our debt ratio isn't bad.

      The interest rate beat my current rate so it's a win there.

      Yes the paperwork is (profanity) but I just chip away at it.

      Net cash back is 4k plus a few hundred from the broker in a kickback arrangement, not a bad pay day.

      I'll refinance again in a couple of years for a better rate or more cash in hand. That's my perspective.

    • AssociatedJohnKKMK @ Mortgage Better on 19/07/2020 - 23:15

      Hi there,
      thanks for your comment.
      1. unless you are making frequent credit applications - loans, credit cards etc, it doesn't affect your credit rating. Your credit rating is influenced by your repayment conducts of bills and credit facility repayments.
      2. whether an interest rate is attractive is all relative to what you are currently on
      3. as mortgage broker we draft up all the forms for our clients, our clients just review and sign.
      4. refinance cost is typically $600-700, so typically you would have $2300-2400 net cashback.

      and there have been customers I have recommended not to refinance because there was no substantial benefit in doing so. "best interest duty" towards clients for brokers is being legislated soon. My business however already operates under that principal.

  • b2tf on 18/07/2020 - 18:09

    What about Interest Only investment?

    • AssociatedJohnKKMK @ Mortgage Better on 20/07/2020 - 13:05

      yes that's fine too, but for that I might have better options for you.
      please contact me on 0433390648 to discuss. thanks.

  • marchie on 21/07/2020 - 20:37

    Hi John,

    Why would you (a broker) post this if it’s an online deal only? Is a broker still able to assist with the application even if it’s an online application? I ask because I’m weighing up using a broker or doing the online application directly without a broker.

    Thanks

    • [Deactivated] on 22/07/2020 - 13:04

      Reading the linked offer, if you go via a broker you get a $2,000 cashback, if you apply directly online you receive a $3,000 cashback. As to why he's posting it, free advertising of course. He can reach tens of thousands (hundreds of thousands?) of Aussies, and not pay a cent.

      • AssociatedJohnKKMK @ Mortgage Better on 29/07/2020 - 09:13
        -1

        Hi Kyanar, not sure where you got that information but that's incorrect. brokers can also provide the $3k offer.
        If you go through a broker you can also receive discretionary pricing as well as the broker doing all the leg work, and advising on various different loan structures available. That's why around 60% of the home loans applied through brokers instead of direct.

        • [Deactivated] on 29/07/2020 - 10:48

          I got that information from St George, on the linked offer page, which specify that the 3k offer is an online only offer, and specifies the word "broker" all over the 2k offer only. So no, it's not incorrect.

    • AssociatedJohnKKMK @ Mortgage Better on 29/07/2020 - 09:18
      -1

      Hi Marchi, sorry for the delayed response. you can definitely go direct online. but if you go through a broker like myself, I always request the maximum discretionary discount pricing for my clients as well as the broker doing alot of the leg work, and advising on various different loan structures available that people are often not aware of. That's why around 60% of the home loans applied through brokers instead of direct.

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