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

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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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Comments

  • +1

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

  • 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

    • 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.

  • +3

    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

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

    • +1

      First half after 13 months and second half after 25!

      Absolutely no deal.

    • 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.

  • Hey OP

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

    • 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.

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

    • 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?

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