$2,000 - $4,000 Refinance Cashback with Predominant Purpose Pricing (OOC Rate for INV Loan) (Min $250,000 Loan) @ ME Bank

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AssociatedMortgage Broker @ Lending Clinic on 08/02/2023 - 16:50 mebank.com.au (203 clicks)
Last edited 08/02/2023 - 16:54 by 1 other user

What's special about this deal from ME Bank?

Refinance your owner-occupied loan and investment loan to ME Bank under 1 application, and they can give you owner-occupied interest rate for both properties, as long as the owner-occupied loan is a bit bigger than the investment loan.
Principal & interest repayment only.

Variable rate before the upcoming February 0.25% rate increase is 4.84% (CR 5.25%) for the Flexible Home Loan Member Package, LVR can be up to 80%.
Fixed rates from 5.34% (CR 5.39%) for 1 year, 5.69% (CR 5.49%) for 2 years, $500 optional Rate Lock fee.

Additionally, they're offering the following refinance cashback:

• $4k refinance cashback if you take out a home loan with a minimum size of $250k and LVR of up to 60%.
• $2k refinance cashback if you take out a home loan with a minimum size of $250k and LVR of above 60% and up to 80%.
• Available to owner occupiers and investors.
• Settle within 120 days of the loan application date.
• Not available where any of the loan proceeds are for the refinance, restructure, switches or top ups of home loans from ME or from other lenders within the Bank of Queensland (BOQ) Group which includes BOQ, BOQ Specialist and Virgin Money (Australia).
• Applications including any loan proceeds for construction and owner occupied loans with interest only repayments are ineligible for the cashback offer.
• A home loan application involving both a purchase and refinance is ineligible for the cashback offer.
• In the case of multiple qualifying applications, one cash back can be received per separate security property.

On top of ME Bank's offer, we also have our own broker cashback & holiday accommodation voucher 😀

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
Lending Clinic Pty Ltd (Credit Representative Number 511270) is authorised under Australian Credit Licence Number 384704

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  PainToad on 08/02/2023 - 16:54

  pop

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  coast666 on 08/02/2023 - 17:08

  Any conditions after receiving the cashback, e.g must stay with them at least 12 months etc

  • 

    AssociatedMortgage Broker @ Lending Clinic on 08/02/2023 - 17:13

    No conditions but the bank loses money if you leave too quickly :(

    • 

      Whatisthatvelvet on 08/02/2023 - 17:30

      +8

      Oh no. Won't someone think of the poor banks. /s

    • 

      coast666 on 08/02/2023 - 19:21

      ok, thansk

    • 

      ol mate on 08/02/2023 - 21:40

      And the broker gets their commission clawed back

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  pakkapie on 08/02/2023 - 18:06

  Heads up for anyone using ME, they don't support payid payments from your account, you can only receive. Only been 'coming soon' for 3 years. Used to be a great bank, very very average now in many ways.

  • 

    cocomelon on 09/02/2023 - 09:26

    Yeah sucks.. planning my way to refinance to other banks.

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  Actionman77 on 08/02/2023 - 18:14

  Can highly recommend Arman. Very responsive/helpful.

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  stefanko on 08/02/2023 - 18:51

  Your "accomodation voucher" has very few properties on offer with not really great prices (i.e. 3 properties in bkk from thousands); also quite a lot of bad reviews on GVR :(

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  Detonal on 08/02/2023 - 19:32

  Tried to find any info on your privacy policies or how you handle personal/financial information (not registrations on your website) but could not see them on your site.
  Could you please point me towards the right URL?
  Thanks!

  • 

    AssociatedMortgage Broker @ Lending Clinic on 08/02/2023 - 20:36

    We can email it to you :)

    • 

      Detonal on 09/02/2023 - 09:50

      Thank you, sent a pm.

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  Indomietable on 08/02/2023 - 21:44

  How does this work with multiple IPs?
  All IPs will be on PPOR rates? Is the cash back per properties?

  as long as the owner-occupied loan is a bit bigger than the investment loan.

  How does the investment loan size calculated? Ie Total IPs loan size or individual IPs

  • 

    AssociatedMortgage Broker @ Lending Clinic on 08/02/2023 - 22:17

    To get the OOC rate, total INV loans under that same application must be smaller than the OOC loan.
    You can get multiple cashbacks if you submit multiple applications for different properties. However this will mean the INV loan will be under INV interest rate if there's no OOC property combined within that same application.

  • 

    AssociatedMortgage Broker @ Lending Clinic on 09/02/2023 - 13:31

    If your investment loans add up to bigger than the owner occupied loan, do check out the AMP offer here:
    https://www.ozbargain.com.au/node/752361

    Cashback offer has minimum total loan of $750k, but the investment loan portion can be bigger than the owner occupied loan portion. Rate currently starts from 4.84%, a bit higher if the loan is under $1m

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  El-Rhi on 10/02/2023 - 19:40

  ME Bank are pretty good, I had no issues switching over to them. If making an application make sure you hit the referral button above as it gives you an extra $200 digital Mastercard (not $150 Coles Myer voucher)