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$4,000 Refinance Rebate (Min Loan $250,000 & LVR <= 80%) @ St George

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$4,000 Refinance Rebate (Min Loan $250,000 & LVR <= 80%) @ St George
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Store RepNick-AzuraFinancial @ Azura Financial on 10/02/2022 - 08:47 stgeorge.com.au (1586 clicks)
Last edited 30/03/2022 - 15:17 by 2 other users

Hi OzBargainers,

I hope you are all well!

St George have just advised us of a new refinance rebate. Effective today 10 February 2022, St George will be increasing the cashback amount for their Refinance Cashback+ home loan offer from $3,000 to $4,000 and extending the offer for eligible applications received by 31 May 2022 and settled by 31 August 2022.

The $4,000 Refinance Cashback+ per customer home loan offer will be eligible for refinance applications received between 8 December 2021 and 31 May 2022 and settled by 31 August 2022, with a minimum loan amount of $250k and LVR7 less than or equal to 80%. Eligibility criteria, exclusions and fees apply.

Available Rates:

Owner Occupied P&I 1 Year Fix - 2.59% (Comparison Rate 3.60%)
Owner Occupied P&I 2 Year Fix - 2.84% (Comparison Rate 3.59%)
Owner Occupied P&I 3 Year Fix - 3.24% (Comparison Rate 3.66%)
Owner Occupied P&I 4 Year Fix - 3.64% (Comparison Rate 3.79%)
Owner Occupied P&I 5 Year Fix - 3.89% (Comparison Rate 3.92%)

Investment P&I 2 Year Fix - 2.94% (Comparison Rate 4.05%)
Investment P&I 3 Year Fix - 3.44% (Comparison Rate 4.11%)
Investment P&I 4 Year Fix - 3.84% (Comparison Rate 4.22%)
Investment P&I 5 Year Fix - 3.99% (Comparison Rate 4.28%)

Investment IO 2 Year Fix - 2.94% (Comparison Rate 4.28%)
Investment IO 3 Year Fix - 3.59% (Comparison Rate 4.36%)
Investment IO 4 Year Fix - 4.04% (Comparison Rate 4.47%)
Investment IO 5 Year Fix - 4.19% (Comparison Rate 4.53%)

Rebate offer available on Owner Occupier (Principal & Interest repayments) and Residential Investment Loans (Principal & Interest and Interest Only repayments) with either the Advantage Package ($395 Annual Package Fee) and Basic Home Loans.

We are receiving a vast range of rates for Owner Occupied & Investment P&I + IO pricing. If you would like an estimate of rate please get in touch with your loan amount and LVR and we can price this upon your request

Further to St George's offer I can confirm we would be happy to also offer you an additional rebate based off the below metrics: (Rebates calculated net of offset)

$500,000 - $750,000 = $500
$750,000 - $1,000,000 = $1,000

Please feel free to email me at [email protected] or text/call me on 0422 699 383 and I would be happy to answer all finance related questions. We do work with a panel of over 40 lenders and will be able to find a home loan tailored to you.

Kind Regards,
Nicholas O’Sullivan
ACL: 389328
Azura Financial

Financial Home Loan Loan Rebate Refinance

Related Stores

St.George Bank
St.George Bank
Azura Financial
Azura Financial
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closed Comments

    • Store RepNick-AzuraFinancial @ Azura Financial on 10/02/2022 - 10:51

      They won't even question it!

      If you'd like help facilitating this please don't hesitate to get in touch!

      • prax21 on 10/02/2022 - 12:06
        +1

        Does refinancing every year impact the credit report?

        • ntt on 10/02/2022 - 14:23

          It gonna be my new favourite sport

  • Nagreddy22 on 10/02/2022 - 10:02

    I’m already with St george bank & Can I refinance with same bank again or not? If so what’s the process can anyone plz advise.. thanks in advance

    • Aureus on 10/02/2022 - 10:08

      Refinance to another bank that has a good cash back deal and hope St George extends this offer.

    • Store RepNick-AzuraFinancial @ Azura Financial on 10/02/2022 - 10:52

      Hi Nagreddy,

      If you are looking for cashback please get in touch and request this via email with some basic information about your current lending scenario so that I can come back to you with some options!

    • George Washington on 11/02/2022 - 20:22

      do an application to another bank for a cash back.
      when st george finds out and wants to keep u u throw them this deal and they will accept and u stay did it with CBA

  • tightm8 on 10/02/2022 - 10:04
    +3

    As an ex St George customer, just want to warn you, once they have you in their system, you will look at that $4k and think was it even worth it?

    The Big 4 (St George falls under Westpac) treat their customers like crap once they're hooked in.

    I recently transferred to Athena and have never ever ever been happier re home loan.

    The interest rate you receive is clear, no BS, everyone receives the same rate based on their LVR tier.

    With Banks, once the promo is over, it's always a case by case thing and everyone is paying a different rate.

    • Smol Cat on 10/02/2022 - 10:54

      Damn only just realized Athena doesn't lend to apartments >7 floors and built after 2013. Shite out of luck :(

      Does anyone know an alternative to Athena that provides actual savings on home loans outside of the big banks?

  • Mkak on 10/02/2022 - 10:08

    What are the rates for variable and interest only investment?, Can you recommend any other lenders with good rates and/or cashback

    • Store RepNick-AzuraFinancial @ Azura Financial on 10/02/2022 - 10:54

      Hi Mkak,

      If you wouldn't mind getting in touch via email with some basic information around your current lending scenario I'll be able to come back to you with appropriate options/recommendations!

      Thanks in advanced!

      • Mkak on 10/02/2022 - 11:39

        Email sent

  • onetwothreefour on 10/02/2022 - 10:23
    +1

    Are there any lenders that provide rebates for loans under $250k? I have one year left on my fixed loan and by that time I will be under $250k.

    • hongerwonger on 10/02/2022 - 10:30

      you can always top it up to $250k - if you don't have use for the extra cash just stick it in the offset or redraw and you won't be paying interest on it

      • JIMB0 on 10/02/2022 - 10:56

        Will they let you get a large amount of cash out when refinancing?

        • Store RepNick-AzuraFinancial @ Azura Financial on 10/02/2022 - 10:57

          Hi Jimbo,

          As long as you can service the debt and your LVR stays below 80% there would be no cash out restrictions

          • virhlpool on 10/02/2022 - 14:17

            @Nick-AzuraFinancial: If you are transferring multiple loans, does each loan need to be minimum $250k or the total needs to be that?

            • hongerwonger on 10/02/2022 - 16:56

              @virhlpool: total loan needs to be >$250k and you don't get multiple rebates for multiple loans above $250k

    • Aureus on 10/02/2022 - 10:30

      If it is just a bit under you could ask to borrow more to use for investments and then just chuck the extra money back in to your mortgage. Got to also make sure there is nothing in the T&C preventing this.

      • onetwothreefour on 10/02/2022 - 10:54

        Yeah it will probably be around $230k by then so not really wanting to borrow that much more just to take advantage of a rebate but it's a good idea.

    • Store RepNick-AzuraFinancial @ Azura Financial on 10/02/2022 - 10:56
      +1

      Hi Onetwothreefour,

      ANZ previously played in this space but have recently withdrawn. As HongerWonger stated you could submit a refinance application at the end of your fixed term to get you to the $250k mark and then stick these funds in offset or pay it straight back in to the loan!

      • onetwothreefour on 10/02/2022 - 11:49

        Thank you, I have some time to think about it so we'll see next year.

    • hoangdekiem on 10/02/2022 - 16:25

      with the fixed rate going up, it is likely that you can break your current fixed rate loan for 0 cost

      • El-Rhi on 11/02/2022 - 13:05

        Yes it’s possible, break costs are very low if any these days. Just call your bank

  • Lucille Bluth on 10/02/2022 - 10:36

    I recently got unconditionally approved within 6 days from Athena Home @ 1.89% for variable P&I <60%LVR, with $250 referral bonus. If you are looking at a barebones product, they are highly rated within the OzBargain community. Only thing missing is PayID but it is apparently coming soon and obviously physical banches (the latter of which isn't important to me). They also don't charge a useless $395 annual fee to lock in a great rate.

    Owner Occupier Home Loan 1.89% (<60% LVR), 1.94% (70%-60% LVR) & 1.99% (80%-70% LVR) @ Athena Home Loans

    Link

  • CrocDundee on 10/02/2022 - 11:02
    +2

    These rates don't look all that competitive since I last looked about a week ago? Most lenders for Owner Occupied and P&I fixed rates were under 3%. 5yrs is the exception.

  • stralya on 10/02/2022 - 11:03

    Could you also post rates for owner occupied, fully variable with offset

    • Store RepNick-AzuraFinancial @ Azura Financial on 10/02/2022 - 11:12
      +1

      Hi Stralya,

      I have managed to achieve a 2.29% rate on an 800k loan at 80% this morning.

      If you could please get in touch with some basic information via email I should be able to come back to you with rates by COB today

  • No Child Support on 10/02/2022 - 11:07

    Is it common or good practice to switch loan providers to take advantage of their cash back rebates similar to credit card deals for their points?

    • El-Rhi on 15/02/2022 - 06:40

      It’s good practice if you like free money

    • MangoUbe on 29/03/2022 - 16:33

      i believe its a credit check each time.

  • gmbhsy on 10/02/2022 - 11:18

    If we don't worry about credit rating, what is the minimum period that we need to be with the bank for variable loan to avail this offer?

    • El-Rhi on 11/02/2022 - 13:06

      They usually pay within 60 days, so you’d need to be there that long at a minimum

  • brawndo on 10/02/2022 - 11:22
    -1

    What's the earliest you can switch out after receiving the cashback?

    Edit: Just realised the guy up here ^ is effectively asking the same thing.

    Edit 2: And the guy above him ^^

    • ModBot on 10/02/2022 - 12:09
      +2

      how did you know both were guys?

      • brawndo on 10/02/2022 - 12:23
        -1

        Good point, they might not be. But they probably are.

      • 1st-Amendment on 11/02/2022 - 09:18
        +1

        how did you know both were guys?

        Come on dude, this is Ozbargain not Hayu 😁

  • billybrown on 10/02/2022 - 11:55

    What about Investment IO variable? I only see investment IO fixed options?

    • Slo20 on 10/02/2022 - 12:45
      +1

      “** This post will be amended shortly with current variable rates”

      • virhlpool on 10/02/2022 - 15:59

        Keen to see those.

  • Dlw on 10/02/2022 - 12:29

    We refinanced with St George last year and the service was atrocious. I am glad that we locked in a great rate and received a cash bonus but the process took months. Parts of our application was lost and then they locked us in at the wrong rate. We needed to constantly harass them for things to be corrected.

    • DingoBlue on 10/02/2022 - 16:29

      Same. Please be aware of delays and tough checks.

      Also note the credit cards are "a different department" and they will happily reject you, despite being approved for a home loan and having signed up to the "package" fee.

    • stratbargain on 10/02/2022 - 18:10

      Same. Three months and three different loan specialists. First two just disappeared and didn’t pass my details on. Had to do the whole process three times over. Ended up pulling the pin after three months and going elsewhere. They were a complete joke. Just glad I wasn’t in a rush.

    • buckster on 19/02/2022 - 15:13

      Had similar issues with ANZ, the big four can be really incompetent sometimes

  • 2jzzzz on 10/02/2022 - 12:45

    Bought a house Aug last year and split loan with 2 year fixed 1.99% and variable which is at 2.59% with St George.

    Also have an investment property we brought over at 2.79% variable.

    Is it any idea to contact them to see what their variable rates are? Variable portions over $250k

  • fez on 10/02/2022 - 13:08

    moved to st.george about 3 years back when they had similar deal. interest rate is 2.79% for me.

  • ozisaver on 10/02/2022 - 13:16
    +6

    Why are people getting excited about this?high Interest rates will eat up your cash back quickly

    • CrocDundee on 10/02/2022 - 13:20

      Agree 100% with you. The rates are terrible!

      • avitherock on 10/02/2022 - 13:28

        its good for ppl with 100% offset cash balance. Free money

    • Aureus on 10/02/2022 - 14:09
      +3

      Depends on your situation.

      Refinance a 250k loan to St George and you get around $3200 cash after fees. Your interest rate will be 2.19% vs 1.89% with Athena.

      With Athena you will be saving $450 per year. So will need to stay with Athena for 7 years to come out ahead.

      Nothing stopping you from grabbing this offer and then 6 months later refinancing to another lender for another cashback.

      So if you have a small loan and don't fear paperwork, then this is a no brainer.

      • virhlpool on 10/02/2022 - 14:19

        Does churning loan providers frequently impact the credit rating?

        • Aureus on 10/02/2022 - 14:27
          +1

          I am sure it would have some impact, but I have refinanced 3 times in the past 4 years and have been through a stack of credit cards. I still have excellent credit and have never been denied a credit card or mortgage.

          There are people who refinance multiple time in a year and are constantly churning credit cards.

    • El-Rhi on 15/02/2022 - 06:41

      You get the cashback then move to Athena

  • slappy on 10/02/2022 - 15:18

    Is there any options on Variable Rates? - coming out of Fixed in late June - Want to get an idea what I'll be stung with above my current 2.1% Fixed rate with Bank of Melbourne.
    Just seems like not an 'ozbargain' move to have to pay more for fixed rates!

    • Aureus on 10/02/2022 - 15:36

      BoM and St George are both Westpac, so you won't get the rebate. Maybe consider going TicToc for 1.89% with $2022 rebate (Probably around $1200 after fees).

  • blackhorn on 10/02/2022 - 15:44

    is there any room for negotiation for 2 year fixed rate for INV IO or is it final ?

  • bio on 10/02/2022 - 15:44

    If you have a, say, $500K mortgage, is it possible to refinance the $250K with one lender and the other $250K with a different one to get two cashbacks?

    • Slo20 on 10/02/2022 - 16:31
      +1

      No because you have to register the house against the mortgage as collateral. A bank can’t sell half a house if you don’t pay one of your mortgages.

      • bio on 10/02/2022 - 16:54

        Fair point. Can you do it by splitting the loan with the same lender then?

        • spiff on 10/02/2022 - 20:05

          Doubt it

      • JIMB0 on 11/02/2022 - 10:10
        -1

        So a second mortgage is not possible.

  • FrugalDealHunter on 10/02/2022 - 16:44
    +1

    The rates are high… IMO HSBC is a better deal with $3288 cash back

    • avitherock on 10/02/2022 - 16:44

      not if u offset the full amt

  • Jaff on 10/02/2022 - 17:16

    Is this offer available for a home and land package for investors? i.e, a construction loan ?

  • twofoursix on 10/02/2022 - 18:48

    Hey mate,

    I have recently re-finance (6 months ago) through BKSA and i have locked in for 2 year Fixed, after paying break fee to bksa would this be still viable to me?

    • Aureus on 10/02/2022 - 19:02

      BankSA is Westpac, so you won't get cashback.

  • JuryWheel on 10/02/2022 - 18:52

    Cashback goo, rates bad.

  • ham0718 on 10/02/2022 - 19:14

    YMMV but…

    Just refinanced AWAY from st George who could only offer 2.44 fixed for 2yrs and 2.6 variable (had been with them for 5 yrs and loan was 500k)

    Settled on Monday with HSBC 1.88 fixed for 2 yrs and 2.07 variable. For sure their service wasn't all that crash hot but saving such Big dollars over the next two years makes the headaches worthwhile.

  • RocketSwitch on 10/02/2022 - 19:50

    Best variable rate with offset?

  • [Deactivated] on 10/02/2022 - 20:16

    Interest rates don't really make it worth it over the TicToc offering unless you plan to refinance out basically instantly? Even a year with them isn't worth it?

    https://www.ozbargain.com.au/node/680677

  • InfinityXLR on 10/02/2022 - 23:19

    Fom my knowledge, these better rates and cashback are only available for refinance from other banks right?

    I am currenly holding home loan with St George - 1 year fixed. And the fixed term is going to end.

    So I am considering to extend another fixed term with St George or refinance to another banks.

    Any suggestion is appreciated.

  • 4253-716HT on 11/02/2022 - 12:46

    St George is one of the bank with highest interest rate in the market.
    Shortly after I notice this deal announced, the Westpac group announced second rate hike within less than 6 months.
    To me, this deal is just to help justify the rate hike… increase the rate with following influx of customer (due to this cashback deal ?!?!). Indirectly, this is to entice all other competitors to go with similar move (i.e. hike the rate)
    I am currently having loan with St George. But, this will change

  • zhy520pp on 11/02/2022 - 14:06

    Thanks Nick. You and your team are very helpful with my refinance two years ago, and renegotiation of the interest rate just last year. It ends up a big saving for me. Definitely recommend to anyone who are looking for a responsible broker.

  • Ash-Say on 13/02/2022 - 09:10

    I just fixed with ANZ @1.99% which comes with 100% offset.

    ST George 1 year rate of 2.59% makes it extra $1836 in interest on $500k payment.

    I don't think it's with it for less than $2k benefit after deducting refinancing charges.

  • Midcrown on 13/02/2022 - 13:13

    How long for the cash back from the bank to arrive ?

  • payless69 on 14/02/2022 - 11:33

    LOL, Westpac dropped out of the big 4!
    Generally happy with St.George they seem to work much better than their parent company.

  • yellowfever on 25/02/2022 - 14:46

    hey OP how many offsets accounts can you have with St George?

  • chartparker on 06/03/2022 - 16:35

    I'm assuming this isn't open to existing Westpac customers since they own St George?

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