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$4000 Cashback for Refinance for O/O Variable Rate from 4.99% (CR 5.00%) @ St George Bank

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$4000 Cashback for Refinance for O/O Variable Rate from 4.99% (CR 5.00%) @ St George Bank
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AssociatedWilson Heroes HL @ Heroes Home Loans on 01/03/2023 - 08:41 stgeorge.com.au (1724 clicks)
Last edited 06/07/2023 - 01:55 by 1 other user

Hello All Ozbargainers

St George has extend their cashback back offer

Please note these are the latest rates including the February rate increase

Current Variable Rates:
Owner Occupied (redraw only):
• P&I Variable 70% LVR - 4.99% (Comp Rate: 5.00%)
• P&I Variable 80% LVR - 5.09% (Comp Rate: 5.09%)

Owner Occupied: (offset only)
- Depends on the loan size and LVR. Rates can range from 4.94-5.24%. Please contact us for precise quote

Current Fixed Rates:
**Owner Occupied **:
• P&I Variable 70% LVR - 5.39% - One year fixed
• P&I Variable 80% LVR - 5.49% - One year fixed
• P&I Variable 70% LVR - 5.59% - two year fixed
• P&I Variable 80% LVR - 5.69% - two year fixed

Investment: (redraw only)
• P&I Variable 70% LVR - 5.24% (Comp Rate: 5.25%)
• P&I Variable 80% LVR - 5.34% (Comp Rate: 5.35%)

Investment: (offset only)
- Depends on the loan size and LVR. Please contact us for precise quote

Fees applicable
No Establishment fee - savings you $600
**annual fee of $395 only applicable for loan with 100% offset accounts **

Apply by 31st August 2023, and settle by 30th of November 2023. Owner Occupier (P&I repayments) and Residential Investment loans, with LVR up to 80%. Available on home loans with our Advantage Package ($395 annual package fee) and our Basic Home Loan (no annual fee). $250k min loan. Only one $4K cashback offer available per primary applicant within a 12 month period. Excludes refinances from within Westpac Group.^

We also offer the following product as well
ING - 4.99% for Owner Occupied + $3,000 cashback
Westpac- 4.89% variable rate for Owner Occupied up to $4000 cashback
Ubank- 4.99% variable rate for Owner Occupied up to $5000 cashback
ANZ - 5.09% variable for Owner Occupied + $4000 cashback

Please feel free to email me at [email protected] or text/call me on 0477 200 670 and I would be happy to answer all finance related questions.

Wilson Yuan
Managing Director
M : 0477 200 670
E : [email protected]
W: www.heroeshomeloans.com.au

ABN 17 654 630 529 | Certified MFAA Member 230928 | Australian Credit Licence number 389328 | Credit Representative’s number 530101
http://heroeshomeloans.com.au/

Financial Cashback Home Loan Loan Refinance

Related Stores

St.George Bank
St.George Bank
Heroes Home Loans
Heroes Home Loans
Third-Party

closed Comments

  • JuryWheel on 01/03/2023 - 08:51

    Hi Wilson - curious if you have facilitated many mortgage holders with doing a couple of bank jumps over a shortish time period to recoup as many cashbacks as possible? Eg St George to ANZ to ING…(I'm assuming you benefit by getting the 'sign on' payment with each bank and then hopefully the trail commission from the final bank so it's still worth your time?).

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 01/03/2023 - 08:58
      +6

      Hey Jury unfortunately I won't facilitate this as the bank have clawback clauses on the commission so I will be losing money.

      • JuryWheel on 01/03/2023 - 09:28

        ah, thats what i wasnt sure about! Thanks for the heads up :)

      • sashatheman on 05/07/2023 - 21:27

        How long do you have to wait before you can switch.
        For example I switched banks with my broker 2 years ago and fixed. Rate is coming off shortly, and I am wondering if switching to another bank would be worth it for the cashback, but wondering if the broker will lose money from that and will not be incentivized to offer me deals with other banks.

    • star-ggg on 01/03/2023 - 10:59
      +1

      you need to be stay with the bank for 1 year before they payout to the broker

      • 1st-Amendment on 01/03/2023 - 11:20
        +2

        you need to be stay with the bank for 1 year before they payout to the broker

        I always wondered about this. Brokers do a good job so I don't want to shaft them, but I also want to maximise my benefits. It sounds a lender churn every 12 months is a win-win?

        • Brick50 on 01/03/2023 - 11:27

          A lot of lenders have now extended it to 2 years clawback period. I believe nab and all their subsidiaries have done that

        • Maxdax on 01/03/2023 - 20:40

          Just go directly through the bank to maximise your profit

          • 1st-Amendment on 02/03/2023 - 12:00

            @Maxdax:

            Just go directly through the bank to maximise your profit

            The brokers get the same rates as the banks offer, except they do all the leg work. And they are better at sniffing out the best deals.
            They get paid by the bank so there is no cost to you for their service, so how exactly are you maximising your profit by doing extra work yourself?

            • El-Rhi on 02/03/2023 - 21:35
              +1

              @1st-Amendment: Because you can refinance every 3 months going direct to bank = $12k cashback per year versus going to a broker who will only refinance maybe once a year if that = $4k cashback.

              If you know what you’re doing it’s super simple to go direct to bank.

              • 1st-Amendment on 03/03/2023 - 09:26
                +1

                @El-Rhi:

                If you know what you’re doing it’s super simple

                Like anything such as being a brain surgeon 😁. But I've been through mortgage applications a couple of times and it was pure pain. Using a broker saved me a lot of headaches, although I'll think about this when my fixed rate runs out in a couple of months

              • silo on 03/03/2023 - 17:10

                @El-Rhi: Every 3 months??? Gee, what does your credit score look like?

          • sashatheman on 05/07/2023 - 21:30

            @Maxdax: Disagree. A good broker that knows the system is way better than relying on the bank to offer you a deal. Plus the broker has access to many banks not just one. And they are free as their commission comes from the bank paying them, rather than you.

  • m0tyrider on 01/03/2023 - 09:10

    Will you do it for investment property loans?

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 01/03/2023 - 09:50

      Yes we do

  • harrysab on 01/03/2023 - 09:25

    Hi Wilson, this or ANZ?
    I am refinancing OO $700,000.00 LVR%66.67
    My current broker offered me ANZ at %5.04 +4k cashback.
    The difference is %0.05

    • stockastics on 01/03/2023 - 09:33
      +1

      He is offering you another $1k in broker rebate..

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 01/03/2023 - 09:39
      +1

      I would recommend St George as the rate is 4.99% which is lower than ANZ and there's no fees.

  • [Deactivated] on 01/03/2023 - 09:51

    Can you refinance a block of land?

    I think I'm still paying under 4.99%< and then I have money on offset.

    It's amazing to see what my repayments were, and what they are now tho.

    I was going to refinance for Construction, but I may build cash but I doubt I have a house til next year.

    My original loan was over 12 months ago.

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 01/03/2023 - 11:07
      +1

      Yes you can :)

  • herbo on 01/03/2023 - 09:59
    +1

    Is it possible to refinace an existing $250k loan where $220k of that is already offset? So refinace would be the same arrangement - $250k loan with $230k in offset straight away

    • Chris12345 on 01/03/2023 - 10:26

      Same question but with redraw..about 275k left on the loan but 200k in there in redraw, leaving 75k remaining. Can I just take out the 200k, and try and refinance the 275k loan, and immediately dump the 200k back into the new loan (with the 3000 or 4000 cashback)? Or will the banks be able to see there's only 75k left to pay and deny the possibility of a cashback?

      • AssociatedWilson Heroes HL @ Heroes Home Loans on 01/03/2023 - 11:07

        Yes that's fine

      • Brick50 on 01/03/2023 - 11:35
        +1

        I’m pretty sure even if you leave it in your offset or redraw the bank just carry’s the amount across themselves anyway

    • stockastics on 01/03/2023 - 11:00

      Doubt. Broker will hardly get any commission. His commission is based on net loan amount.. on 30k, he will make $200-$250.. LoL..

      • AssociatedWilson Heroes HL @ Heroes Home Loans on 01/03/2023 - 11:07

        There's always around it :)

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 01/03/2023 - 11:07
      +1

      Yes you can :)

  • onetwothreefour on 01/03/2023 - 10:16

    Minimum loan is $500k, looks like it's getting harder for people with small loans to get any cashback. My mortgage is less than $220k.

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 01/03/2023 - 11:06

      Hey the minimum loan is $250K to qualify

  • narre on 01/03/2023 - 10:17
    +1

    Is the cashback still available if you are currently with St G. but coming up to your expiration date

    • prisonmike on 01/03/2023 - 10:22

      Keen to know as well. I am with BankofMelb.

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 01/03/2023 - 10:23
      +1

      No it's unfortunately but there are other deals in the market

      We also offer the following product as well
      ING - 4.99% for Owner Occupied + $3,000 cashback
      Westpac- 4.89% variable rate for Owner Occupied up to $4000 cashback
      Ubank- 4.99% variable rate for Owner Occupied up to $5000 cashback
      ANZ - 5.09% variable for Owner Occupied + $4000 cashback

      • Tapori on 01/03/2023 - 20:00

        Would you qualify for Westpac cashback if you were to move from St George?

        • AssociatedWilson Heroes HL @ Heroes Home Loans on 02/03/2023 - 09:09

          No unfortunately you wont :(

      • johnnytran on 06/03/2023 - 19:53

        Do these rates include offset? What are the monthly/annual fees etc.

  • koflok on 01/03/2023 - 10:26

    Is there any deal for 85% LVR?

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 01/03/2023 - 11:11

      Hey Koflok, what's your loan size?

      My number is 0477 200 670 or send me an email to [email protected]

  • funnysht on 01/03/2023 - 10:31

    how long should you wait before you move banks/refinance again?

    • khey on 01/03/2023 - 10:34
      +2

      Am not even one year in with my home loan and already looking to refinance if ANZ doesnt reduce my rate. Banks dont award loyalty.

      • funnysht on 01/03/2023 - 10:44

        More about how it affects your credit check etc

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 01/03/2023 - 11:10

      We are happy to be able to provide this valuable service at no charge to you, thanks to the commissions we are paid by the lender. You probably don’t realise however that the banks have some ‘clawback’ rules in which they will take back all of those commissions when a customer closes their loan within the first two years. We ask if you could consider staying with your current lender for the first two years, we offer an FREE repricing on your home loans to ensure you remain on the competitive rate while with us without you. We accept that sometimes this happens and circumstances change. if you are considering refinancing or restructuring your loan (and if you’re happy with the service we have provided) that you consider speaking to us about your options before taking any action.

  • Repstar on 01/03/2023 - 10:35

    $4000 rebate requires $2m+ mortgage. That's not great.

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 01/03/2023 - 11:05
      +1

      This is on top of the $4000 cashback from the bank, so total would be $8000. Not a bad return

      • Repstar on 01/03/2023 - 12:57

        Ok well that sounds a lot better. My mistake sorry.

    • 1st-Amendment on 01/03/2023 - 11:22
      +1

      $4000 rebate requires $2m+ mortgage. That's not great.

      You're looking at it the wrong way. If you have a $2M mortgage then chances are life is pretty great.

      • xdirex on 01/03/2023 - 16:52

        Or, you totally overextended and rate rises are biting hard. 😬

  • FlyingPanda99 on 01/03/2023 - 10:36

    Hi OP, what is the discount rate for home loan and Invest loan? P+I with offest? thanks

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 01/03/2023 - 11:11

      Hey mate, what's your loan size and property value.

      My number is 0477 200 670 or send me an email to [email protected]

  • 11CENTS on 01/03/2023 - 10:38

    Hey Wilson,
    Have you got rate for IO?

  • coast666 on 01/03/2023 - 10:38

    Any condition apply if go with you, e.gmin stay for 12 months etc

  • Catsfan070911 on 01/03/2023 - 10:45

    Thanks for posting this, I use these posts as the basis for a rate review with my current bank :P. But seriously, I might employ your services eventually with my Fixed Rate 1.87% ending soon :)

    • [Deactivated] on 01/03/2023 - 10:47
      -1

      Don't worry, when it ends you'll be stuck on 6% fixed for years 🤣

      • Catsfan070911 on 01/03/2023 - 10:55

        Hahaha, lets see!

        • Catsfan070911 on 01/03/2023 - 10:56
          +1

          Except I definitely won't, 100% offset all the way unless historical lows are reached again

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 01/03/2023 - 11:04
      +1

      Thank you for comment and up vote :)

    • 1st-Amendment on 01/03/2023 - 11:25
      +2

      my Fixed Rate 1.87% ending soon :)

      This is when the real crash will hit. The gov handed out a ton of money to banks to lend at fixed low rates in 2021, and a lot of them are going to flip back to variable in the next 6 months.
      Combine this with a huge jump in house prices ie much larger mortgages, and the result is an impending catastrophe as thousands of home owners suddenly get hit with +3% on their mortgages this year.

    • hazzad on 01/03/2023 - 14:06

      Im interested in some feedback in getting a bank to give you a better deal. Ive never done this process as was never sure how much banks will budge or care? What exactly is required to do this? Do you just approach your bank and say you want a better deal or your walking or do you approach with a little more finesse? Based on the above rates i getting right royally screwed? Im currently on 6.62 on a investment property. Time to change things up i think. Ive always been one to utility hop and have only recently started Internet provider hopping but never thought of bank swapping as assumed it was just to much hassle.

      • Catsfan070911 on 01/03/2023 - 14:16

        Hi Hazzad, in my case, its an email to the appropriate contact at my current bank. I just provide all the current better deals going around and ask what they can do to retain me and basically without fail and within reason I get a reduction on the Variable portion of my loan quite easily after they send off my rate review request. I send through a request once a quarter. Every little bit helps. Once I no longer have a fixed portion with a good rate, I will definitely look at bank hopping if need be.

        • hazzad on 01/03/2023 - 14:21

          Thanks for the reply mate. so assume you have part fixed and part variable? Assume they will match either part of the loan? Can i ask who you are with atm?

          • Catsfan070911 on 01/03/2023 - 17:56

            @hazzad: Yup part Fixed and part Variable. Basically, I fixed the portion I couldn't 100% Offset on the Variable portion with savings I already had. I am with Bankwest currently, they will match either at least in my experience. The last time I changed my fixed rate was a while ago but they ended up actually crediting me rather than charging any contract exit related fee's since I was signing back up with BankWest.

  • jdg on 01/03/2023 - 10:57
    +1

    I am in the process of moving away from St George. They put their rates up at every chance they can get and my residential investment loan is currently 9.12%. I have spoken to them about getting a better rate and they wont budge and was told that if I want a better rate to switch banks, which is what I am doing.

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 01/03/2023 - 11:04

      Hey Jdg

      We have investment loans around the low 5% + $3000-4000 cashback , happy to have a chat to help faciliate a switch for yourself to help save you money

      My number is 0477 200 670 or send me an email to [email protected]

  • activ8newbs on 01/03/2023 - 11:00

    If I'm with Westpac, and refinance to St George, will I get the $4k cashback?

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 01/03/2023 - 11:02

      No unfortunately you wont but there are other deals in the market

      We also offer the following product as well
      ING - 4.99% for Owner Occupied + $3,000 cashback
      Westpac- 4.89% variable rate for Owner Occupied up to $4000 cashback
      Ubank- 4.99% variable rate for Owner Occupied up to $5000 cashback
      ANZ - 5.09% variable for Owner Occupied + $4000 cashback

  • Stalker on 01/03/2023 - 11:07

    Currently with St George. Fixed loan expires in 2 weeks. What's my best option for decent cashback and a loan arrangement with 100% offset account? OO $350k and LVR of around 40%.

  • OhNoUShiz on 01/03/2023 - 11:23

    Rang them to drop my rate from 5.09 to 4,99 they said no. Gave me tons of excuses. Every single question you have on home loan has to ring them. I am avoiding them in future as i already got my cash back from them.

    • Brick50 on 01/03/2023 - 11:38

      I applied directly last week and hoping for approval shortly, what’s the banking app/website like

      For anyone curious, I have applied for home loan basic with redraw

      On the phone they explained any additional payments I make that will go on redraw won’t be available for a month from the time I make them.

      Eg. I have 50k redraw available, I make an additional 5k payment today 1/3, apparently my redraw balance will only show 55k on the 1/4. However they said interest is calculated daily and so you save on interest from the day they receive it

      Bit annoying

      • OhNoUShiz on 01/03/2023 - 12:20

        The app is very basic you can track all the transactions which is fine, however, it does not allow you to adjust the frequency and minimum repayment even if you are ahead, only loan period is reduced.

        You will need to call them for any adjustments to reduce minimum repayment/frequency and it will wipe out your redraw.

        When I put in a lump sum into redraw, it was reflected quite immediately, at least not a month waiting to reflect in the app.

        • Brick50 on 01/03/2023 - 14:27

          Yeah, Even though I always pay as much as I can I liked the fact my minimum payment is a lot lower on my current loan due to the redraw.
          When you put it in did it say it was available? My understanding is you couldn't actually take it out for 30 days

          But if it atleast shows an updated balance in the app that's better than I thought.

          How do you make additional payments?
          Currently with Planlend and they gave me a BSB and acc number, each week I transfer my pay directly to that account and it counts as my loan payment. So they never actually try to draw the loan payment from my account as long as I have transferred the minimum amount in that period which is handy

          • OhNoUShiz on 01/03/2023 - 18:00

            @Brick50: My minimum repayment is still the same based on the initial loan on my contract even if i have transferred a lump sum into the redraw later. Their app just reduce the loan period say from 20 years to 10 years. Is this the same for you?
            I asked them previously if my repayment can be adjusted to the minimum based on 20 years not 10 years since i am way ahead, the answer is no unless they wipe clean my redraw.

            I don’t know if i can withdraw redraw amount within the first 30 days. Anyhow, you will need to submit a physical form to branch to do it.

            Just direct transfer to the home loan account.

        • johnnytran on 06/03/2023 - 22:14

          what bank are you referring to?

    • eek on 01/03/2023 - 15:04

      So you followed up with asking them for a mortgage discharge form then?

  • rush123 on 01/03/2023 - 11:36

    Hi Wilson, what about refinancing with multiple banks to take advantage of cashbacks. I'm with ANZ now and have 2 investment loans, both >250k (as a part of home&land package). Can I refinance one with St. George and other one with other bank?

    • Tleyx on 01/03/2023 - 11:39

      Usually you can get $4k per loan.

      But yes you could do it with separate banks

      • rush123 on 01/03/2023 - 12:25

        thanks.

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 01/03/2023 - 12:00
      +1

      Yes you can definitely can, get two cashback for the price of one.

      • rush123 on 01/03/2023 - 12:25

        Thanks

  • nezza on 01/03/2023 - 12:23

    Hi Wilson, you mentioned above that the OO rates (with offset) can range from 4.94-5.24%. St.George's current standard OO rate without any discount is 6.49% so are you saying that they would give a 1.55% discount on their standard rate?

    in my experience they have been very reluctant to provide a discount more than 1.15% for OO.

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 01/03/2023 - 12:26

      Yes that's correct, they provide the discount on the current O/O rate with offset.

      • nezza on 01/03/2023 - 13:16

        Thanks - is there anything you can do for a current STG customer?

        • AssociatedWilson Heroes HL @ Heroes Home Loans on 01/03/2023 - 15:32

          Sorry, this offers are for new customer but we also offer the following product as well
          ING - 4.99% for Owner Occupied + $3,000 cashback
          Westpac- 4.89% variable rate for Owner Occupied up to $4000 cashback
          Ubank- 4.99% variable rate for Owner Occupied up to $5000 cashback
          ANZ - 5.09% variable for Owner Occupied + $4000 cashback

  • Tycn on 01/03/2023 - 12:33
    +6

    Had an absolutely terrible experience with St George recently. Had to submit my paperwork multiple times, took several months to get full approval, lots of errors in their paperwork that would take weeks to correct, missed settlement because they screwed up their documentation. Still chasing them for reimbursement of penalties from missed settlement.

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 01/03/2023 - 15:32
      +1

      Sorry to hear about your bad experience :(

  • Pythagoras on 01/03/2023 - 14:20

    Why isn't the wespac option better? 4.89% with cash back?

    • Brick50 on 01/03/2023 - 14:36

      Rate is discounted for 2 years only and $3500 cashback on their website for most loans

      • AssociatedWilson Heroes HL @ Heroes Home Loans on 01/03/2023 - 15:31

        Correct, just FYI - you will get $4000 cashback if you applied via broker like myself

  • driveahardbargain on 01/03/2023 - 14:36
    -1

    Any cashback options for 100% offset and no annual fee?

    • Downvoter on 01/03/2023 - 21:21
      -1

      Lol as if

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 02/03/2023 - 09:10

      Hey mate, what's your loan size and property value.

      My number is 0477 200 670 or send me an email to [email protected]

  • Downvoter on 01/03/2023 - 21:22
    -1

    Oz Broker Advertising

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 02/03/2023 - 09:10

      Thanks :)

  • hazzad on 02/03/2023 - 09:31

    What's your turn around on email enquiry? Sent you a email yesterday and wondering how long it will be for a reply.

    Thanks

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 02/03/2023 - 09:57

      Hey we will be responding back to you today, just been inundated with enquires

      • hazzad on 02/03/2023 - 17:12

        All good. Have replied to your email message. Speak soon.

  • tightm8 on 10/03/2023 - 15:12

    St George customer here.

    Take my advice, avoid like the plague. Will be jumping ship as soon as my fixed rate expires in November 2024.

  • Helmutson on 23/03/2023 - 16:57

    Current Westpac customer here. Any issues with switching to St George and still receiving $4k bonuses?
    Also, $395 fee for Offset. Does this get you a free Credit Card?
    Cheers

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 27/03/2023 - 16:03

      Hey mate, unfortunately you won't received the cashback as you're part of Westpac group already. (St George is owned by Westpac)

      • Helmutson on 27/03/2023 - 16:31

        Ok thanks for that.

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