You can score up to $5,000 cashback for refinancing
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If rising repayments have you itching to switch on your home loan, you’re not alone. Refinancers are in high demand, with lenders bringing out all the stops to win over eligible borrowers. You could walk away from your refinancing with a bonus of more than $3,000 in your pocket.
Competitive low rates mean these loans could also save you money in the long run, cutting the cost of your mortgage repayments significantly. A bit of extra cash can’t hurt either!
Right now, more than 20 providers in the Mozo database have cashback deals for eligible refinancers, many of which offer more than $3,000 – and one of which can score you up to $5,000 in cashback when you apply by 30 April 2023.
To score you that cash bonus and a rate that’s worth writing home about, we’ve wrapped up some of the top cashback offers for refinancers in April:
TOP REFINANCE CASHBACK OFFERS
Suncorp - Back to Basics Special
- $3,000 cashback for loans over $500,000 and $4,000 cashback for loans over $1,000,000 (terms and conditions apply)
- 5.54% p.a. variable rate (5.55% p.a. comparison rate*)
- No upfront or ongoing fees for new borrowers
Suncorp’s lowest variable home loan rate is available for borrowers with LVRs of 60% or less. There are no ongoing fees, and the application fee is waived for new borrowers. If it’s features you’re looking for, you’ll be able to make free extra repayments and redraws on this home loan. If you apply before 30 June 2023 and settle by 28 September 2023, you also can qualify for a cashback of $3,000 for refinance loans between $500,000 and $1 million, and $4,000 for refinance loans of $1 million or more (conditions apply).
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* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.
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