Home Loans Cashback Offers: Watch This Before You Apply (Australia)

Home Loans Cashback Offers: Watch This Before You Apply (Australia) //

We sat down with our Inside Sales Director, Sam Hyman, to have a chat about cashback offers when you refinance your home loan, and whether it is worth choosing a lender based on their cashback offer.

0:00 Introduction
0:25 How do cashback offers work?
1:07 When do you receive the cashback and who pays them out?
1:35 What should customers know before choosing a lender for their cashback?
3:08 Who has the best cashback offer?

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[Lendiau]

Thanks for watching! Do you have any questions about cashback offers when refinancing? Let us know in the comments below.

[mobe]

You focus a lot on ongoing interest savings but what is the downside of moving to Bank A to receive a cashback offer with the intent of eventually moving to Bank B with the more competitive rate? For example, Bank A has a $4k cashback offer that would cover settlement fees, establishment fees, and a couple of months of marginally higher interest. After a few months, you do a second refinance moving to Bank B which has a more competitive rate. The net position is you now have ongoing savings from a good rate but a few extra dollars in your pocket for doing a 'two-step' refinance.