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$4000 Cashback on Owner-Occupied or Investment Home Loan Refinances @ ANZ via Broker

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$4000 Cashback on Owner-Occupied or Investment Home Loan Refinances @ ANZ via Broker
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AssociatedWilson Heroes HL @ Heroes Home Loans on 07/07/2022 - 16:06 anz.com.au (573 clicks)
Last edited 26/08/2022 - 21:22 by 3 other users

Hello All Ozbargainers

ANZ has new offer for the Simplicity Loan variable rate and offering an $4000 Cashback on all refinances for owner occupied and investments. This is the rates before the latest 0.5% RBA rate increase announcement in July. ANZ has announced that rates will increase by 0.5% on 15 July

The rates quoted below are out of date. Please refer to ANZ's product page for the current interest rates.

Principal and Interest Owner Occupied HOME LOAN
Variable - 2.79% (CPR 2.79%) FOR LVR <70%
Variable - 3.04% (CPR 3.04%) FOR 70%<LVR <80%

Principal and Interest INVESTMENT HOME LOAN
Variable - 3.44% (CPR 3.44%) FOR LVR <70%
Variable - 3.54% (CPR 3.54%) FOR 70%<LVR <80%

Apply by 8th July 2022 until the 16th September 2022. Loan needs to be drawdown before the Friday 16 December 2022. Owner Occupier (P&I repayments) and Residential Investment loans, with LVR up to 80%. $250k min loan. Only one $4K cashback offer available per primary applicant within a 12 month period. Excludes refinances from within ANZ. Please find attached terms and condition. https://drive.google.com/file/d/1yZZU87Ja5XkAnPmE0RdgFm8dJid…

We also offer the following product as well
Suncorp - 2.72% variable rate for Owner Occupied up to $4000 cashback
Citibank - 2.74% variable rate for Owner Occupied up to $6000 cashback
Westpac - 2.64% variable rate for Owner Occupied up to $4000 cashback

Heroes Home Loans are also providing an additional incentive broker rebate of up to $4,000 if user our service (note this applies to all products).

Please feel free to email me at [email protected] or text/call me on 0479107213 and I would be happy to answer all finance related questions.

Mod: Removed variable rate from title as it will not be applicable by loan settlement date

Financial Cashback Home Loan Loan Refinance

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closed Comments

  • Ultramup on 07/07/2022 - 16:12

    Does the investment rate include offset?

    • yukey on 07/07/2022 - 16:19

      not sure about ANZ. But for a product I discussed with Westpac, they don't offer an offset account, but instead allow you to withdraw with none or little limitation, which would be pretty much the same with an offset account. They (Westpac) do have another product with the traditional offset account, which has an annual fee of $395. I doubt who would pick the latter one??

      • ATangk on 07/07/2022 - 16:22
        +3

        Don't people use offsets as a savings account to put extra funds in, as you'd get better rates there than a savings account?

      • ozmian on 07/07/2022 - 16:43
        +4

        redraw vs offset has tax implications if you move out and use your property as an investment property down the track. in the case of an offset the money remains yours. if you pay extra off your mortgage and rely on it being available to redraw the money then becomes the banks who can do as they wish, including reducing your redraw as some did during the start of pandemic.

        • cook99 on 07/07/2022 - 18:37
          +1

          Great summary.
          I have an all in one which is just as good for my personal home mortgage, but offset is absolutely necessary for investment property tax purposes.

        • Extreme on 07/07/2022 - 18:47

          Offset accounts also have downsides which most people aren’t aware of, or commonly overlook.

          Offset funds are counted towards asset based tests for centrelink payments such as the pension or jobseeker.

          • matt-ozb on 06/08/2022 - 17:45

            @Extreme: not really relevant if you can afford an investment property?

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 07/07/2022 - 16:19

      Offset is little bit more expensive

  • nightelves on 07/07/2022 - 16:12
    +3

    Does this stack with 300k Qantas points?

  • Shk123 on 07/07/2022 - 16:16
    +1

    "This is the rates before the latest 0.5% RBA rate increase announcement in July", so the settlement rate should be at least 2.79% + 0.5%

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 07/07/2022 - 16:18
      +1

      Correct

      • Dandaman21 on 07/07/2022 - 16:40
        +12

        So your headline rates are unobtainable?

        • Mr Frodo on 07/07/2022 - 17:01

          It appears so

          • AssociatedWilson Heroes HL @ Heroes Home Loans on 07/07/2022 - 17:16
            +1

            @Mr Frodo: It's the rate currently on their website, there hasn't been any announcement of the rate increase so I can't speculate what the future rate.

            • Mr Frodo on 07/07/2022 - 19:19

              @Wilson Heroes HL: sure, but from your experience as a broker, have you ever seen a big bank NOT increasing for the amount of time a loan application would take to be put together and approved, when their competitors have increased?
              Really sounds like you're trying to take advantage of this short time to increase your client base. Frankly, sounds dodgy af man. I wouldn't do business with you.

        • AssociatedWilson Heroes HL @ Heroes Home Loans on 07/07/2022 - 17:16
          -4

          It's the rate currently on their website, there hasn't been any announcement of the rate increase so I can't speculate what the future rate.

    • boretentsu on 07/07/2022 - 17:29

      Mmm naughty naughty!

  • JuryWheel on 07/07/2022 - 16:20

    Will be interesting to see where rates are at/what offers are available when my fixes rate finishes up in Feb next year…..no more 1.99% wahh

    • ATangk on 07/07/2022 - 16:23
      +1

      Yep, my 1.89% is but a pipe dream

    • alz on 07/07/2022 - 16:48

      Both my 1.99% end in November. Hating life from now

      • batrarobin on 07/07/2022 - 17:33

        Mine too ends in Nov. Expecting at least a 50% increase from the original rate.

  • Msfrugal on 07/07/2022 - 16:43

    Does this apply to investment loan on land? Not yet built on

  • mr_asstight on 07/07/2022 - 16:51

    Multiple cash backs or just one?

    • spiff on 07/07/2022 - 16:55

      Only one $4K cashback offer available per primary applicant within a 12 month period.

  • Edsanwong on 07/07/2022 - 16:58

    OP, how the Investment interest only looks like nowadays?

  • Churna on 07/07/2022 - 16:58

    how long do you need to stay with them for once you get the $4000 cashback

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 07/07/2022 - 17:16
      -3

      We prefer our clients to stay with the lender for between 18-24 months

      • dasher86 on 07/07/2022 - 17:18
        +4

        A preference is not an answer.
        How long are you required to stay?

        • AssociatedWilson Heroes HL @ Heroes Home Loans on 07/07/2022 - 17:25
          -7

          18 months -24 months depending on the lender

          • dixy on 07/07/2022 - 17:42
            +4

            @Wilson Heroes HL: Lie. I have been switching mine after 6 months for past 2 years with no problems across different banks.

            • AssociatedWilson Heroes HL @ Heroes Home Loans on 07/07/2022 - 17:51
              -4

              @dixy: We have separate agreement where we offer a broker rebate as well on top of the cashback from the bank.

            • mr_asstight on 07/07/2022 - 19:12

              @dixy: I think the questioner referred to period with broker not with bank.

              • dixy on 07/07/2022 - 21:41

                @mr_asstight: Actually I have always gone for a loan through a broker. My current broker told me he has no problem if I try to switch after 6 months. He just gets commission and we are both happy.

    • Shikha966 on 07/07/2022 - 17:30

      I don’t think they can charge u extra you if you switch after 6 months.

    • Whatisthatvelvet on 07/07/2022 - 19:09
      +3

      Get the cashback and refinance to another lender straightaway if you want.
      Have done this a few times.

  • GS9891 on 07/07/2022 - 17:47

    Good to see ANZ stepping up the cashback game, now for CBA.

    • Ok computer on 07/07/2022 - 19:45

      Also 300,000 Qantas points for new finance on home loans
      https://www.anz.com.au/promo/300k-Qantas-Points-home-loan-of…
      Pts when exchanged for flights valued at $5400

      • GS9891 on 07/07/2022 - 19:59

        Eh I'd take $4k cash over $5k-maybe in points at one specific retailer.

        • OldBugger on 08/07/2022 - 11:27

          Agree. My thoughts are you can get Qantas points through a few credit card applications anyway.

    • El-Rhi on 08/07/2022 - 06:33

      now for CBA

      I doubt CBA would go above their normal $2k cashback which has been the same for almost 3 years. They seem to be the only big 4 not relying on cashbacks to win new customers.

      • AssociatedWilson Heroes HL @ Heroes Home Loans on 17/07/2022 - 09:01

        that's correct

  • Westpac on 07/07/2022 - 22:58

    Does this have offset account

    • El-Rhi on 08/07/2022 - 06:34

      No, but you can now get an offset for $10 per month, rather than the $395 per year package

  • ppdogs on 08/07/2022 - 00:08
    +1

    So you have to go through a broker to get this? Don't see them advertising it on the site

    • Budginator on 08/07/2022 - 08:58

      From the document OP linked above…

      Fulfilment Action:
      Customers are only eligible for one ANZ home loan offer. For customers who meet eligibility criteria for both the Switching Cashback Discretion (if you choose to offer it) and the Home Loans 300,000 Qantas Points Promotion, only one offer may apply.

      For Switching Cashback you need to take action (Manual Process):

      As the Switching Cashback is a discretion and not automatic, you must submit the OFI Refinance Customer Payment Form via email to [email protected] within 14 days post-drawdown.

  • djmm on 08/07/2022 - 01:34
    -1

    Whats the bargain here?
    Since when self (and misleading) advertising becomes a bargain?

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 08/07/2022 - 09:26

      You can get up to $4000 broker rebate on top of the $4000 bank cashback.

      • pepto on 15/07/2022 - 13:04

        A bit late to the party here but am I reading that correctly?
        Can we get essentially 8k cash back?

        • AssociatedWilson Heroes HL @ Heroes Home Loans on 15/07/2022 - 15:49

          yes that's correct.

        • FXD on 19/07/2022 - 15:50

          You need to borrow $2,000,000 to get the bonus $4k.

          • pepto on 19/07/2022 - 16:22

            @FXD: Thanks for the info, what is the bonus on a 550k loan?

  • ozbargainerlife1 on 10/07/2022 - 19:00
    -1

    ANZ does Qantas points only. doesn't do $4jk refinance

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 16/07/2022 - 15:24
      +1

      It does both, you can choose which reward you want

      • ozbargainerlife1 on 16/07/2022 - 16:05

        thanks called ANZ and they confirmed this!

        • AssociatedWilson Heroes HL @ Heroes Home Loans on 17/07/2022 - 09:00

          no problem :)

  • mvdel92 on 31/07/2022 - 20:47

    Which bank would you recommend to get the best cashback and rate? Currently with st. George $250k <70% LVR

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 01/08/2022 - 12:58

      ANZ would be the best bet - $4000 cashback plus a very competitive rate.

  • blankie on 01/08/2022 - 16:35
    +1

    Is there anything stopping one from refinancing with another lender once the ANZ Cashback has been paid out? You're not locked in with them for a set time afterward?

  • Hc123 on 06/08/2022 - 14:16

    What would be the cash back on a $435000 refinancing investor loan?
    Also, any fees etc ?

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 08/08/2022 - 09:18
      +1

      $4000 anz cashback + $500 broker rebate
      No fees beside $10 a month if you want offset.

  • Edgecrusher on 19/08/2022 - 09:14

    Hi Wilson,

    Is there any broker cash back on the minimum $250k amount?

    Have my current loan at $176k w/26k offset ($220k scheduled balance). Would be willing to borrow the 250 and park in offset/redraw - I’m assuming I have to wait a period of time before doing this?

    Are you offering their standard advertised rates or do you offer a discount?

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