Are you on a 3%+ interest rate? Chances are we can get you a rate which is very close to 2.00% or even slightly under, with up to $4k cashback from the lender, plus up to $1500 cashback from us (as your friendly mortgage broker).
On a $500k home loan, a 1% reduction in interest rate equates to around $5k in yearly savings.
As we're new to OzBargain, we're offering the following BROKER-FUNDED CASHBACK for a limited time:
- $500k-$749k loan: $1000
- $750k+ loan: $1500
- You need to still have the loan until the end of the lender's commission clawback/refund period, which is either 18 or 24 months. The broker cashback will be paid at this point.
- The loan amount applicable will be based on the lender's commission calculation method, which is generally the amount net of redraw & offset.
- Applicable for refinance or property purchase, as long as only 1 application is involved, without having to extend/renew the pre-approval, and without involving bridging loan or construction loan.
What about the bank/lender's offers?
Some banks/lenders are offering $2k-$6k cashbacks. Our $1k-$1.5k broker cashback is on top of the $2k-$6k cashback provided by the bank/lender.
There are often some trade-offs between interest rate and loan features, maximum loan amount, ability for the lender to approve your specific scenario, or the amount of documents/admin work required from you.
But some of our CHEAPEST LENDERS as of 20 February 2022 are below:
SUNCORP:
- 1.94% owner occupied P&I variable rate (1.95% comparison rate)
- 2.19% investment P&I variable rate (2.20% comparison rate)
- 2.59% investment I/O variable rate (2.35% comparison rate based on 5-year I/O)
- $3k lender cashback ($750k+ loan)
- Applicable for refinance or property purchase
- LVR up to 70% for the rate, 90% for the lender cashback
- Apply by 29 April 2022, settle by 29 July 2022, unless withdrawn prior
CITIBANK:
- 1.99% owner occupied P&I variable rate (2.04% comparison rate)
- 2.21% investment P&I variable rate (2.26% comparison rate)
- 2.58% investment I/O variable rate (2.63% comparison rate)
- $3k-$6k lender cashback ($6k $1m+ loan, $4k $750k+ loan, $3k $350k+ loan)
- Applicable for refinance or property purchase
- LVR up to 80% for the rate, also 80% for the lender cashback to avoid LMI
- Apply by 31 March 2022, settle by 30 June 2022, unless withdrawn prior
ST.GEORGE/BANK OF MELBOURNE/BANKSA:
- 2.19% owner occupied P&I variable rate (2.21% comparison rate)
- 2.49% investment P&I variable rate (2.51% comparison rate)
- 2.69% investment I/O variable rate (2.71% comparison rate)
- $4k lender cashback ($250k+ loan)
- Applicable for refinance only
- LVR up to 80% for both the rate and lender cashback
- Apply by 31 March 2022, settle by 30 June 2022, unless withdrawn prior
ANZ:
- 2.19% owner occupied P&I variable rate (2.23% comparison rate)
- 2.49% investment P&I variable rate (2.53% comparison rate)
- 2.89% investment I/O variable rate (2.67% comparison rate based on 5-year I/O)
- $4k lender cashback ($250k+ loan)
- Applicable for refinance only
- LVR up to 70% for the rate, 80% for the lender cashback
- Apply by 29 April 2022, settle by 31 July 2022, unless withdrawn prior
ME BANK:
- 1.98%+ owner occupied P&I variable rate (2.45%+ comparison rate)
- 2.98%+ investment P&I variable rate (3.43%+ comparison rate)
- 3.18%+ investment I/O variable rate (3.50%+ comparison rate)
- Interest rate depends on loan amount & LVR, the above are optimistic scenarios
- $3k lender cashback per property ($250k+ loan per property)
- Applicable for refinance only
- LVR up to 80% for the lender cashback
- Apply by 30 May 2022, settle by 31 August 2022, unless withdrawn prior
Additional terms and conditions apply as determined by the lender. Typically you cannot have received a cashback from the lender within the previous 12 months.
We look forward to helping you save money, or buy a property!
Arman Soetanto
M: 0431 825 128
E: [email protected]
W: www.lendingclinic.com.au
This rate is usually fixed for 1 or 2 years max, good days for 3-5 years were long gone. of course, depends on how much you borrow too.