100% Offset Variable Rate Home Loan 5.29% p.a. (5.65% CR) + up to $5,000 Cashback for Refinance @ Heritage Bank

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100% Offset Variable Rate Home Loan 5.29% p.a. (5.65% CR) + up to $5,000 Cashback for Refinance @ Heritage Bank

AssociatedObtain Finance @ Obtain Finance on 02/05/2023 - 15:41 heritage.com.au (580 clicks)
Last edited 08/05/2023 - 13:28 by 1 other user

Hi Ozbargainers,

For those looking at refinancing their Home Loans, you may want to consider the Heritage Bank Home Advantage Loan with a current standard variable rate of 5.29% (C.R. 5.65%). This is a packaged loan with 100% offset. Their discounted variable loan also with cashback ex offset package is 5.14% (C.R. 5.16%).

Heritage Bank Loan Fees & Features

$350 annual fees
100% offset account
Unlimited extra repayments at no cost
Additional repayments allowed at any time
Online banking access
Includes Packaged Credit Card

Upfront Fees:

Establishment Fee Nil
Settlement Fees Nil.
Valuation Fee Nil
Discharge Fee $345

Lender Cashback:
$3,000 cashback
for loans $250,000 - $499,999
$4,000 cashback
for loans $500,000 - $699,999
$5,000 cashback
for loans $700,000 or more

Comparison Rates and Important Information

Any quoted comparison rate is only true for the example given and may not include all fees and charges. Different terms, loan amounts or fees may result in a different comparison rate. Comparison rates are based on a loan amount of $150,000 over a loan term of 25 years. Variable rates are subject to change.

The Standard Variable in Package Loan Rate shown is for new, owner-occupied, principal & interest home loans of $250,000 or more with less than 70.00% Loan to Value Ratio (LVR). What is LVR?

For those looking to apply through us you can:

Book a quick chat using the following link: https://calendly.com/obtainfinance/homeloan
Email: [email protected]
Phone: 0421744572

Broker Cashback

$500 total cashback payable on loans of <$500,000 (balance net of offset and redraw)
$1,000 total cashback payable on loan settled >$500,000 (balance net of offset and redraw)
Rebate payable in two equal installments. The first installment is payable within 45 days of settlement and 2nd tranche is payable by the 14th month anniversary of loan settlement.

Min loan for broker rebate is $250,000 net of offset or redraw.

https://obtainfinance.com.au/ (ABN 67 233 834 231)
Australian Credit Licence Number 506 992

Referral Links

$250 Gift Card with Loan: random (25)

When an existing Heritage member refers a new member and that new member has a Heritage home or business loan approved and fully funded within 3 months of the membership creation, both the new member and the referrer receive a $250 pre-paid Visa gift card.

Win $1000 with New Account: random (8)

Referrer and referee go into the draw to win a $1000 prepaid visa gift card each. Tell heritage you were referred and give them the member number.

Financial Cashback Home Loan Loan Refinance

16 Jun 2023

Related Stores

Heritage Bank

Obtain Finance

Third-Party

closed Comments

jv on 02/05/2023 - 15:52 Comment score below threshold.
- AssociatedObtain Finance @ Obtain Finance on 02/05/2023 - 15:53
  
  +2
  
  Not much they can do until inflation gets under control, somehow.
  - silverx on 02/05/2023 - 16:00
    
    Feels like dog trying to catch its tail. The rate goes up, forcing other costs to go up, which then cause inflation to go up
    - soan papdi on 02/05/2023 - 16:07
      
      +4
      
      That would make sense if profits stayed level but they're going up too. Consumers are getting shafted both ways.
      - jv on 02/05/2023 - 16:18
        
        -5
        
        @soan papdi:
        
        Consumers are getting shafted both ways.
        
        Correct. That is because the government is sitting on their arse doing nothing about it.
        
        Meanwhile the reserve bank doesn't think, and raises interest rates because of inflation without thinking about the cause of inflation.
        
        cski on 02/05/2023 - 16:39
        
        +1
        
        @jv: In general all governments and markets globally have theory that interest rates are the proven right way to deal with inflation,
        The more i spend on my mortgage and less i borrow the less i spend.
        
        but yes it is archaic and they really need to rethink it
        because we are now having to borrow for food and essentials when historically we had discretionary buffers.
        
        especially when that spending is not on discretionary stuff like clothes, purses and holidays.
        But rent utilities insurance food transport
        
        Turkey experimented with an alternative by not increasing the interest rates
        but hasn't worked out,
        instead inflation is in the 50-80% range
        
        (https://www.youtube.com/watch?v=IassCL4biu8&t=776s)
        
        (https://www.youtube.com/watch?v=LLePNXCTBv8&t=128s)
        
        CookedChook on 02/05/2023 - 20:06
        
        +1
        
        @cski: Get out of here with your context and facts, I already grabbed my pitchfork to mob the government.
        
        the-fuzz on 02/05/2023 - 16:45
        
        +1
        
        @jv: Tell me you know nothing about macroeconomics without telling me you no nothing about macroeconomics
        
        soan papdi on 02/05/2023 - 16:46
        
        +2
        
        @jv: The RBA raised interest rates citing increased wages. Then six months later, they were proven to be false. We have inflation because of the RBA printed money like there's no tomorrow and banks were able to access cheap finance and were handing out cheap loans.
        
        https://www.abc.net.au/news/2023-02-25/reserve-bank-interest…
        https://www.smh.com.au/politics/federal/australians-hit-by-l…
        
        It's also funny how no rate rise happened when LNP was in power but as soon as ALP term began, rates had to go up. Can't help but see the co-incidence there.
  - jv on 02/05/2023 - 16:16
    
    -3
    
    Not much they can do until inflation gets under control
    
    Inflation currently isn't due to spending though, so raising interest rates is not helping.
- jabroni on 02/05/2023 - 16:00
  
  +6
  
  RBA is independent of the government
  
  cope harder
  - jv on 02/05/2023 - 16:19
    
    -3
    
    RBA is independent of the government
    
    RBA raise interest rates because of inflation.
    
    Government policies affect inflation.
    
    It's not rocket science.
    - cski on 02/05/2023 - 16:28
      
      +5
      
      How very partisan of you.
      
      Government policies may influence some inflation, but so do you, I other world leaders, business, the weather.
      The thing is government policies take time to affect things and how long is the current government?
      
      Weather can wipe out food immediately for short & long term, sudden mood of you or I to buy new stuff or travel can spike demand, world leaders invading each other or banning import/exports can unbalance inflation, panic in markets can cause hoarding and artificial demand.
      
      It may not be rocket science but is sure as hell more than throwing insults at people
      - jv on 02/05/2023 - 21:06
        
        -1
        
        @cski:
        
        how long is the current government?
        
        A year, and what has he don't to address it? Absolutely nothing…
    - jabroni on 02/05/2023 - 16:40
      
      +4
      
      this is in reaction to the last decade of government policies
      
      its not rocket science
      - jv on 02/05/2023 - 21:07
        
        -2
        
        @jabroni:
        
        this is in reaction to the last decade of government policies
        
        The last decade of government saw low inflation and high employment and the some of the lowest interest rates ever…
        
        jabroni on 02/05/2023 - 23:13
        
        +1
        
        @jv: inflation started under the last government and only 30ish % of households hold a mortgage
        
        unemployment is even lower now
        
        interest rates should never be this low for us savers
        
        cope
        
        jv on 03/05/2023 - 00:31
        
        -2
        
        @jabroni:
        
        inflation started under the last government
        
        It was 3.5% a year ago, now it is almost 8%.
        
        Anyway, this discussion is about interest rates and Albo is sitting on his arse.
        
        jv on 03/05/2023 - 00:33
        
        -2
        
        @jabroni:
        
        unemployment is even lower now
        
        yeah from 3.9% to 3.5%.
        
        That means nothing though.
        
        jabroni on 03/05/2023 - 15:24
        
        +1
        
        @jv: oh i see
        
        you get to choose what means something and what means nothing
        
        start with the $40 billion jobkeeper that went to underserving applicants and the RBA not raising rates when housing market took off [before and after the initial covid phase]
        
        jv on 03/05/2023 - 15:28
        
        @jabroni:
        
        you get to choose what means something and what means nothing
        
        anything under 5-6% unemployment doesn't mean much.
        it basically means we are at full employment as a small number of people are always changing jobs, quitting, taking a break, getting sacked etc. etc. That's why is basically meaningless…
        
        Inflation on the other hand is a very different beast….
        
        Ask Dan, he was using it as an excuse today to cancel major projects.
        
        jabroni on 03/05/2023 - 15:38
        
        @jv: Dan doesnt live rent free in my head as im not in Melb but start with the $40 billion jobkeeper that went to underserving applicants and the RBA not raising rates when housing market took off [before and after the initial covid phase] as you need to understand inflation a bit better
        
        jv on 03/05/2023 - 15:47
        
        @jabroni:
        
        Dan doesnt live rent free in my head
        
        He does, but he does it quietly for some people…
        
        jv on 03/05/2023 - 15:48
        
        @jabroni:
        
        and the RBA not raising rates when housing market took off
        
        at the time when tenants could stay in a property without paying any rent, in effect legally allowed to steal?
        
        jv on 03/05/2023 - 15:50
        
        @jabroni:
        
        jobkeeper that went to underserving applicants
        
        most of jobkeeper kept people employed by preventing companies from going bankrupt and/or sacking their staff.
        
        would have been interesting coming out of covid and not having any Australian companies to employ people…
        
        jabroni on 03/05/2023 - 16:26
        
        @jv: oh right im dealing with a low information type
        
        https://www.afr.com/rear-window/jobkeeper-wasted-40-billion-…
        
        let me know once you understand
        
        jv on 03/05/2023 - 16:50
        
        @jabroni:
        
        oh right im dealing with a low information type
        let me know once you understand
        
        Is that you Dan ?
        
        jabroni on 03/05/2023 - 18:25
        
        @jv: is Dan in the room with you now?
- DingoBilly on 02/05/2023 - 18:14
  
  You got the wrong politician/party but yes, looks like rates are up.
  
  If you think that the economy has somehow become broken because of what he's done since being elected in 2022 you have no idea how macroeconomics works. Of course, you've made this abundantly clear a few times in this post.
- mr_asstight on 02/05/2023 - 20:11
  
  Real enemy are the central banks
  - jv on 02/05/2023 - 21:08
    
    The Reserve Bank is accountable to the Parliament…
cooni on 02/05/2023 - 16:44

I wonder if their online banking is as horrible as all the Visa/MC gift cards they supply…
- Elyxar on 02/05/2023 - 19:02
  
  Their online banking is really good.
Dice on 02/05/2023 - 16:49

Any deals for 70-80% LVR?
AssociatedObtain Finance @ Obtain Finance on 02/05/2023 - 18:20

There are some pretty sharp rates at the LVR ranging from 5.39% with cashback and 5.18% without. Even lower for basic, with no offset. IM for more info.
Deal finder on 02/05/2023 - 18:41

+1

Terms and conditions says the cashback is only for refinance and the cashbackust be paid back if the heritage loan is repaid within first 6 months
enigma48 on 02/05/2023 - 19:18

+1

Heads up - I've had two brokers tell me that Heritage is particularly slow right now (2+ months) and are asking a lot of follow-up questions on applications. It probably wasn't a large sample size (I doubt the brokers had say 10 recent loans each) but worth being aware of.
- Hasbulla on 02/05/2023 - 19:54
  
  +1
  
  Took me two weeks, not two months.
  It’s discharging from my current bank that’s to be ashamed of due to them not being able to cope with ‘unprecedented demand’ pfff
- AssociatedObtain Finance @ Obtain Finance on 03/05/2023 - 10:32
  
  Assessment turn around times are pretty quick at the moment (2 to 4 days), provided you get your documentation in correctly upfront.
- GuyfromMelbourne on 03/05/2023 - 23:00
  
  When these small lenders offer the best deal. They struggle with volumes. Unable to cope.
West991 on 02/05/2023 - 20:07

+1

OP, are you sure it's for new purchases? Website says refinances only
grjohnson on 02/05/2023 - 20:48

Greater Bank have sharper Fixed Rates and $4,000 cash back
countmein on 03/05/2023 - 08:01

Do they do desktop or physical valuation? My case is just between 70-72% LVR
- AssociatedObtain Finance @ Obtain Finance on 03/05/2023 - 10:31
  
  Depends on what their valuation system determines.
ruriruri on 09/05/2023 - 20:09

Is it hard for Heritage bank to match rate in future? I know ING it's a PITA to match rates.

This was posted 1 year 6 months 21 days ago, and might be an out-dated deal.