$3000 Cashback When Refinancing Your Mortgage ($250,000-$499,999) Online @ People Choice's Credit Union

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pjwellsey on 29/11/2022 - 10:53 peopleschoice.com.au (256 clicks)
Last edited 02/12/2022 - 13:30 by 1 other user

A recopy of this deal : https://www.ozbargain.com.au/node/596214, got an email from my previous People Choice Credit Union Agent

"You refinanced your home loan from People’s Choice in 2021 and I was reaching out to see what it would take to get you back to us. Given interest rates have increased significantly we’d be happy to explore options for you to save you some $$."

The rates for Variable seem very competitive

You could also be eligible for $4,000 cashback for loans over $500,000 and LVR <80%. If you’re refinancing between $250,000 and $499,999, with LVR <80%, you could be eligible for $3,000 cashback.

These rates are current as of 15th November 2022 which includes the latest rate increase announced on Cup Day.

Loan Type : Owner Occupied Variable Packaged Loan
Loan Limit : Over $250,000
Repayment Type : Principle and Interest
Package fee $395.00 p.a.

Loan Type : Investment Variable Packaged Loan
Loan Limit : Over $250,000
Repayment Type : Principle and Interest
Package fee $395.00 p.a.

(Mod note: Variable rates removed — no comparison rate displayed)

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People's Choice Credit Union

• 

  coast666 on 29/11/2022 - 11:49

  +1

  My question is how often we can refinance the loan? Just moved into other bank

  • 

    Elijha on 29/11/2022 - 12:20

    +3

    yeah it seems like you could roll your loan every 3-4 months for a while and get 3-4K each time at the moment.

    • 

      Geebs on 29/11/2022 - 12:24

      -3

      Pretty sure most banks have at least a 12 month period where you can't refinance or they'll have a fee for ending the service that makes refinancing not worth it.

      • 

        Gowrie29 on 29/11/2022 - 13:12

        Wasn't that made illegal?

        • 

          Geebs on 29/11/2022 - 13:13

          @Gowrie29: Ah not sure. I guess there is one way to find out if you can chop and change. If you can and it's worth it, go for gold.

      • 

        1jwoz on 29/11/2022 - 13:32

        +1

        Not correct at all.

      • 

        pjwellsey on 29/11/2022 - 14:43

        Nope I've refinanced 3 times in 1 year, you just need to check of when you get your bonus and how long until you can move

• 

  Geebs on 29/11/2022 - 12:29

  +1

  Not the best deal out there. Also do these packages include an offset for the $395 fee.

  I believe other banks will have better cash backs based on number of properties you're refinancing starting December. For people who may have multiple properties.

  Check out https://www.blueowlfinance.com.au/ - currently using their services myself and are great so far.

  • 

    pjwellsey on 29/11/2022 - 14:43

    Yep these are all packages with offset

• 

  Hendrix on 29/11/2022 - 21:21

  The best rate i could.fine on the site was 4.49%. Do you have a link to the 4.29%

• 

  ozbmm on 30/11/2022 - 11:57

  -1

  PCCU are pretty good and you could get multiple $4k cashbacks on multiple loans - just ask! Service is really good as well though their app and internet banking are a bit average. They are merging with Heritage Bank soon (link).

  • 

    Makaveli99 on 05/12/2022 - 14:48

    Oh so u can get cashback per property, that would be great

    • 

      ozbmm on 05/12/2022 - 21:13

      -1

      YMMV

      • 

        Makaveli99 on 06/12/2022 - 12:07

        WYSA

      • 

        ozbmm on 06/12/2022 - 22:29

        -1

        Not sure why the down vote…