$2,000 - $6,000 Mortgage Broker Cashback on Purchase/Refinance @ Lending Workshop

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$2,000 - $6,000 Mortgage Broker Cashback on Purchase/Refinance @ Lending Workshop
Go to Deal
AssociatedLendingWorkshop on 07/02/2025 - 09:03 lendingworkshop.com.au (128 clicks)
Last edited 07/02/2025 - 12:42 by 1 other user

Hello Ozbargainers,

Thank you so much for your support so far.

I am offering a broker cashback back of $2,000 to $6,000 depending on loan amount. This is in addition to any cashback offered by Banks/Lenders on my panel.

Loan Amount Broker Cashback
Settled Net Loan Amount ≥ $500,000 and Settled Net Loan Amount < $750,000 $2,000
Settled Net Loan Amount ≥ $750,000 and Settled Net Loan Amount < $1,000,000 $3,000
Settled Net Loan Amount ≥ $1,000,000 and Settled Net Loan Amount < $1,500,000 $4,000
Settled Net Loan Amount ≥ $1,500,000 $6,000

Key conditions for broker cashback are below:

  • First half cashback will be paid into your nominated account after completion of 13 months. If the loan is not paid off and is still active.
  • Second half cashback will be paid into your nominated account after completion of 25 months. If the loan is not paid off and is still active.
  • Loan amount will be based on bank/lender's commission calculation method. That is net off redraw and offset.

Owner Occupier, Principal and Interest Loan

  • Variable Rates from 5.89% p.a. (Comparison Rate 5.90% p.a.)
  • Fixed Rates from 5.55% p.a.(Comparison Rate 6.00% p.a.)

Investment Property, Principal and Interest Loan

  • Variable Rates from 6.04% p.a.(Comparison Rate 6.05% p.a.)
  • Fixed Rates from 5.69% p.a.(Comparison Rate 6.18% p.a.)

Please refer to this link for detailed broker cashback terms and conditions.

You can combine broker cashback offer with offers from any of the the 35+ banks/lenders on my panel of lenders.

The easiest way to reach out, is to book an obligation-free appointment in my calendar. You can also call me on my mobile number mentioned in the signature below.

General Advice Warning- The information provided on this site is on the understanding that it is for illustrative and discussion purposes only. Whilst all care and attention is taken in its preparation, any party seeking to rely on its content or otherwise should make their own enquiries and research to ensure its relevance to your specific personal and business requirements and circumstances. Terms, conditions, fees and charges may apply. Normal lending criteria apply. Rates subject to change. Approved applicants only.

Comparison rate warning: Interest Rates are correct as at today and subject to change at any time. The comparison rate is based on a loan amount of $150,000 over a 25-year term. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Subject to lenders terms and conditions, fees and charges and eligibility criteria apply. Your full financial situation would need to be reviewed prior to acceptance of any offer or product.

My Profile:
I am an ex-banker with 13+ years of finance industry experience.

Regards,
Roopali
0415 719 759
Director | Mortgage Broker - Lending Workshop
Credit Representative Number 544854| Australian Credit License Number 389328| ABN 98 663 429 598|Certified FBAA Member M-353524.

Email [email protected]
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Website

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Comments

  • AyTrain on 07/02/2025 - 09:12
    +1

    Hey OP which lenders have the highest cashback at the moment?

    • Tiggrrrrr on 18/02/2025 - 15:18
      +1

      Radio silence?

      • AyTrain on 18/02/2025 - 15:38
        +2

        Who needs a broker than can communicate

    • AssociatedLendingWorkshop @ Lending Workshop on 20/02/2025 - 14:41

      hi @AyTrain and @Tiggrrrrr,

      Thank you for your question and for sharing your concern.

      I understand your point. However, I must clarify that I am bound by regulations that prevent me from directly mentioning specific bank names or their offers.

      Due to these constraints, I have refrained from providing such details.

      I am offering a huge chunk of the commission in form of cashbacks. I do offer the option to have an obligation free chat.

      I have a lot of respect for OzBargain community and have helped lots of fellow OzBargainers with saving money on their mortgage. Their reviews on google are a testament for service quality.

      • Tiggrrrrr on 20/02/2025 - 19:12

        Care to point me in the direction of these "guidelines"?

        Do you mean Part 10 of the National Consumer Credit Protection Act, 2009 - Schedule 1 , or the National Consumer Credit Protection Regulations - 2010. Or is it ASIC's Regulatory Guide 234?

        Lets look at what you have said then:

        Variable Rates from 5.89% p.a. (Comparison Rate 5.90% p.a.)

        Now according to the Australian Consumer Law, all loan imitations should accompany the advert. This includes LVR. So you are ok with breaching those guidelines?

        Cool

        • AssociatedLendingWorkshop @ Lending Workshop on 20/02/2025 - 21:09

          hi @Tiggrrrrr, the LVR restriction for this specific rate is upto 70%. It is an advertised rate and not negotiated rate.

          Negotiated rates can possible be better or worse than this depending on loan amount. But for that I need to submit a request and get discounts approved for each client separately.

  • AdModnar on 07/02/2025 - 09:22

    novice question here
    why is the comparison rate for a loan with $150k balance and 25 year term?
    I'm gonna guess there will be "effectively none" of those in existence

    • AssociatedLendingWorkshop @ Lending Workshop on 07/02/2025 - 09:36

      hi @AdModnar, not a novice but very smart question. The comparison rates are mandated by ASIC as part of NCC(National Credit Code). Whether 150K balance loan example is right or not can be debated but need to publish and comply with regulations.

  • yellowfever on 07/02/2025 - 09:25
    +6

    The whole point of cash back is to cover the refinancing cost (typically $1K) and have some cash left as bonus to save on interest,.
    To get half cashback at 13 months kind of negates the purpose.
    IMO cashback should be paid within 3 months of settlement

    • cumova on 07/02/2025 - 10:10
      +1

      He is lining up cashbacks for customers based on clawbacks from banks. Which is fair.

    • gaz3342 on 07/02/2025 - 10:16
      +2

      First half after 13 months and second half after 25!

      Absolutely no deal.

    • AssociatedLendingWorkshop @ Lending Workshop on 07/02/2025 - 11:31

      hi @yellowfever, just to clarify. The broker cashback is in addition to bank cashback. The bank cashbacks are normally paid within 60 days. So that is still the same. I hope you are not confusing the two.

      • yellowfever on 07/02/2025 - 18:26
        +1

        No haven't confused the 2.
        13 and 25 months is a long time to wait for $1,000
        - $1,500
        No one wants to chase money after 1 and 2 years. And who knows if the broker is still around to chase the money.

        The cashback is the headliner selling point but the waiting period makes it unattractive.

        Not here to cut your lunch but the deal is not great. It perhaps needs a re-workshop

      • Tiggrrrrr on 18/02/2025 - 15:19

        Except no bank cashback rates have been memtioned or alluded to.
        So who knows if this is a good deal?

        • AssociatedLendingWorkshop @ Lending Workshop on 20/02/2025 - 14:52

          Hi @Tiggrrrrr, as much as I want to. Unfortunately cannot mention those details. Our details are not hidden behind a pseudo name and license is on the line. So unfortunately too much risk.

          The best I could do is publish the list of lenders on our panel. Which is 35+ and yes there are some offering cashbacks still.

  • Loki556 on 07/02/2025 - 09:32

    Hey OP

    Best rate for an owner occupier P&I loan with offset please?

    • AssociatedLendingWorkshop @ Lending Workshop on 07/02/2025 - 09:40

      hi @Loki556, I wish I could answer this without knowing your exact situation. The rates for this case need to be negotiated based on loan amount, Total lending and LVR etc. Feel free to reach out and we can discuss to find the most suitable product. There are 35+ banks on my panel so choice is not a problem. And broker cashback is applicable irrespective of the bank the application is placed with.

      • Tiggrrrrr on 19/02/2025 - 19:24

        Ok. You mention Owner Occupier, Principal and Interest Loan Variable Rates from 5.89% p.a

        So for a 740k loan, 60% LVR, (optional : 15 year loan term). What is the best rate for an owner occupier P&I loan with offset, excluding internet only "banks" ?

        • AssociatedLendingWorkshop @ Lending Workshop on 20/02/2025 - 14:44

          hi @Tiggrrrrr, the loan term does not make a difference to the rates. For a rate specific to you situation I would suggest calling and having a chat. I can assure you that if you decide not to go ahead. We just stop there. Your details will not be stored in the system to start advertising etc.

          And I would highly recommend not putting in loan amount and LVRs specific information on public platform. Just for your own security.

          • Tiggrrrrr on 20/02/2025 - 18:59

            @LendingWorkshop: I didnt say that was my information.
            You said that you couldnt give a rate without more specific information. So I gave you some specific information.

            Thanks for conforming you aren't interested in providing some examples of rates.

            • AssociatedLendingWorkshop @ Lending Workshop on 20/02/2025 - 21:16

              @Tiggrrrrr: For offset product I cannot commit because I need to get the pricing approved. Unfortunately, that's how the game works.

              I am quite confident that I should be able to get that rate for the scenario you mentioned, infact 0.25% lesser now after the RBA rate cut announcement.

              Hope it satisfies your concerns.

  • burningrage on 07/02/2025 - 09:34

    The killer clause here is that cashback is based NET of offset. Just to highlight. It's understandable I guess.

    • Loki556 on 07/02/2025 - 11:00

      But it’s settled loan, right?

      I.e. at the time the loan is settled, regardless of subsequent offset account balance. So just move the money around before settlement.

      Or does the commission depend on point in time in the future?

      • enigma48 on 14/02/2025 - 14:42

        My understanding is that its often point in time. E.g. over 24 months, your $1m mortgage had $900k in offset for 23 of those months. The bank makes 90% less on interest, so they reduce trailings to agent, which reduces cashback to you.

        • AssociatedLendingWorkshop @ Lending Workshop on 20/02/2025 - 14:48
          +1

          hi @enigma48, the cashback in our case is based on loan amount at start.

          For example:-
          Loan amount at start is 500K. You win a lottery and have 400K in your offset account six month down the line.

          We will still pay cashback according to 500K balance. You are right that our trail commission will be based on 100K balance but we take that hit on us. Customer is not impacted. I hope that clarifies.

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