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$4000 Home Loan Refinance Cashback, Offset Variable Rate from 5.78% (CR 6.16%), 2-Yr Fixed from 5.99% (CR 8.03%) @ Bank of China

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$4000 Home Loan Refinance Cashback, Offset Variable Rate from 5.78% (CR 6.16%), 2-Yr Fixed from 5.99% (CR 8.03%) @ Bank of China
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AssociatedWilson Heroes HL @ Heroes Home Loans on 01/10/2023 - 11:04 bankofchina.com (1338 clicks)

Dear All,

We are delighted to inform you that we have launched a new promotion
Effective date: 01/10/2023
Submitted between:01/10/2023-31/12/2023
Settled by: 31/03/2024
Special rates are only applied to all new applications
Promotional rate and cashback offer available for loan applications fully assessed on Australia Income with an LVR<=80%

Owner Occupied Loan Products

Discount Plus home loan with offset - 5.78% or 5.68% with Green Energy (Solar panel etc.)
1 Year Fixed Rate - 5.99%
2 Years Fixed Rate - 5.99%

Investment Home Loan Products
Discount Plus home loan with offset 6.18% or 6.08% (with Green Energy (solar panels)
Interest only - 6.48%

Cash rebate Offers
Refinance case rebate: $4000
Loan amount >=$400k
No LMI
First year ‘s annual package fee waived for all new applications

Please feel free to email me at [email protected] or text/call me on 0477 200 670 and I would be happy to answer all finance related questions

Wilson Yuan
Managing Director
Credit Representative Number is 530101 under Australia's Services Australian Credit License (ACL) 389328 © 2021 HEROES HOME LOANS AUSTRALIA PTY LTD
http://heroeshomeloans.com.au/

Financial Cashback Home Loan Investment Loan Refinance

Related Stores

Bank of China
Bank of China
Heroes Home Loans
Heroes Home Loans
Third-Party

closed Comments

  • lazydesi on 01/10/2023 - 11:24
    +2

    can i pay my repayments in Yuan?

    what items could be consider under Green Energy?

    Ta

      • lazydesi on 01/10/2023 - 11:54
        -4

        what is wrong in asking the question?

        my FIL is rich chinese and happy to pay half of my EMI.

        with current strict regulations in china, he cant pay in Aud, but he can pay in Yuan using his Chinese BoC account.

        • illusion99 on 01/10/2023 - 12:48
          +10

          Don’t be dumb. You pay your loan in the same currency you get it in. Do you pay for your Mercedes in Australia in Euros given it’s from Germany? Do you pay for your iPhone in USD given it’s from USA?

          • dcep on 01/10/2023 - 13:01

            @illusion99:

            Do you pay for your iPhone in USD Rupees …

        • dcep on 01/10/2023 - 12:59

          with current strict regulations in china, he cant pay in Aud,

          I'm curious. How did others pay for their bidding wars that often been accused of pushing up the house prices in Australia.

          • illusion99 on 01/10/2023 - 13:17
            +6

            @dcep: They don’t. It’s fake news just to blame the “bad foreigners” for everything that is wrong in your life

          • mitt on 01/10/2023 - 16:47
            +1

            @dcep: There are plenty of less than legal money transfer schemes around if you are willing to use them. Big one I know of is a "gambling" website, where the person looking to send money "looses" a bunch & the receiver "wins" a bunch.

            Used to get a lot of Chinese nationals buying thousands of dollars in paysafe (or its predecessors, ucash I think it was called) credit with cash so there was no money trail.

            There are rivers of cash flowing all over like this.

          • [Deactivated] on 01/10/2023 - 18:45
            +2

            @dcep: The immigrants are causing housing shortage/inflation story has been manufactured by the liberal party and fed to "journalists" who only care about click bait headlines.

            All that is happening is migrants are entering while none are leaving - because none entered during COVID restrictions in the prior years. The level of migration has not significantly changed under the current government, it's just a convenient deliberate misinterpretation of statistics.

            Net overseas migration 2017-18:
            237,200
            https://www.abs.gov.au/statistics/people/population/migratio…

            2019-20: 194,400
            https://www.abs.gov.au/statistics/people/population/migratio…

            2020-21: Negative 85,000
            2021-22: 184,000
            2022-23: 400,000
            2023-24: 315,000
            2024-25 onwards: 260,000

            https://www.aph.gov.au/About_Parliament/Parliamentary_depart…

          • lazydesi on 01/10/2023 - 19:04

            @dcep: one way I know off is paying by cash.

        • whiskeylima on 01/10/2023 - 17:32

          BoC Oz accounts and BoC China accounts are not linked AFAIK

  • LuciferGatsby on 01/10/2023 - 11:29
    +1

    You've never seen a leak of ID committed by a Chinese bank.
    Mission impossible

  • hopper on 01/10/2023 - 11:46
    +1

    谢谢

  • TightAl on 01/10/2023 - 11:58
    +1

    What happens if you try for a loan and they value it too low to meet the 80% LVR? Can you just abort the application

    • illusion99 on 01/10/2023 - 12:49
      +2

      Yes. They do not hold a gun to your head and make you go through with the loan. You can bail at any time

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 03/10/2023 - 08:55

      Yes you can cancel the application

  • KH234 on 01/10/2023 - 12:58
    +4

    HI Rep,
    $4000 cashback from Bank of china or its rebate from you?

    • serpserpserp on 01/10/2023 - 13:10
      +2

      Also how quickly do you get the $4,000?

      • AssociatedWilson Heroes HL @ Heroes Home Loans on 03/10/2023 - 08:55

        I believe it pay within 90 days of settlement

    • douevenozbargain on 01/10/2023 - 14:30
      +1

      Hi rep, why is this a deal? cant we get the same deal just going direct?

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 03/10/2023 - 08:55

      From BOC

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 15/11/2023 - 17:24

      from BOC

  • Aerith-Waifu on 01/10/2023 - 16:18

    I have only got about $230k, do I also get $4000 back?

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 03/10/2023 - 08:56

      No require a loan size of 400K

  • sickllama on 01/10/2023 - 19:19

    Thanks for sharing OP. Does bank of china allow split loans, both variable, for this product? I'm an owner occupied who wants two separate variable loans with offset for a single security.

    Also if my loan is say $490k and I have $150k in offset, would I still be eligible for the $4000 cashback? Looking at sub 50% LVR loan.

    Thanks

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 03/10/2023 - 08:56

      Yes to both of your questions.

  • s12345 on 02/10/2023 - 08:10

    Does anyone who is with BoC locally, know if the local Bank of China requires you to install the same CCP spyware app with admin privileges onto your computer to be able to use online banking, that they require in mainland China?

    My wife is Chinese and doesn't want to take the offer for that reason but I found it hard to believe the local regulators would allow that?

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 03/10/2023 - 08:58

      No you dont need to install their app.

  • turkz1 on 02/10/2023 - 12:03

    Hi OP, is there no green energy discount on the variable product?

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 03/10/2023 - 08:59

      Hi Turkz, the green energy discount only applies to the variable products

  • ODST05 on 02/10/2023 - 16:56
    +2

    For anyone considering using the Bank of China, be aware that it is majority owned by the PRC, and that all information held by the bank can be accessed at-will by the CCP.

    • mr_asstight on 03/10/2023 - 10:07

      That's -100 social credits for you!

  • Kustard King on 02/10/2023 - 22:58
    +1

    Do you have any deals from Bank of Russia?

  • ahara on 03/10/2023 - 14:40
    +1

    What are the setup and exit fees ?
    What are the ongoing package fees ?

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 05/10/2023 - 17:02

      Hey Ahara

      The set up cost is $395 which is the annual fee, I can get the annual fee waived for the first year.

      The discharge fee is $250 and this only payable when you're leave.

  • fedex11 on 05/10/2023 - 12:08
    +1

    I think they had a higher cash back of $4288 last few months.

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 05/10/2023 - 17:04

      Alot of bank have withdrawn the cashback, and this is the highest amount in the current market.

      • fedex11 on 09/10/2023 - 16:53
        +1

        Are there any additional broker cashback being offered too?

  • kalludahiya on 06/10/2023 - 15:07

    It is hard to get info about BOC. i had to ring sydney and melbourne. now applying via broker.

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 08/10/2023 - 17:08

      There website isnt the best, best to get information from a broker.

  • hoangdekiem on 08/10/2023 - 15:31

    Do I have to go to their branch? I live in regional area where there is no BOC branch nearby

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 08/10/2023 - 17:07

      You can apply online via broker. Happy to chat further if you like

  • p10n33r on 09/10/2023 - 09:06

    what is the green energy stated in the product? need more information for refi and cashout with boc, can you dm me wilson?

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 09/10/2023 - 09:23

      Hey sure can

  • JimB on 27/10/2023 - 12:06

    How long do I have to keep the loan for?

    I don't want any clawback to affect you/me.

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 27/10/2023 - 12:10

      min 12 months, ideally 24 months :)

      • JimB on 27/10/2023 - 13:38

        Sounds reasonable.

        Don't want to shaft the broker.

      • JimB on 27/10/2023 - 13:42

        Also how do they check for Green Energy?

        Would solar hot water also qualify?

        • AssociatedWilson Heroes HL @ Heroes Home Loans on 27/10/2023 - 17:30

          If you have solar panels or planning to install solar panels

  • vindator on 31/10/2023 - 09:27

    Can you call me? dmed you yesterday.

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 31/10/2023 - 09:28
      +1

      Hey sorry I have been busy, will give you a call shortly :)

  • Jzho on 10/11/2023 - 18:05
    +1

    I have attempted to apply for the refinance with BoC and I would say the process have been tedious and unnecessarily difficult. Provided 3 months of payslips and all the other required documents as well as a face to face interview where they require your passport and driver's licence to open the account. I received an email stating i have to provide payslips and card and bank statements all over again. Every new statements that comes out you will need to send it in. On top of all that, they have advised that the loan will not be guaranteed as they will also have further questions on why you are trying to refinance. If they determine you are there solely for the 4000 cashback, they will reject you. I have pulled out from it, I would advised others to stay away to save time.

    • 76F on 10/11/2023 - 23:40

      Was this through a broker?

  • TGLC225 on 14/11/2023 - 15:56

    What is BOC's current cashback offer for refinancing, including fixed & variable rates?

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 14/11/2023 - 16:27

      $4000 for min loan of $400K

  • TGLC225 on 17/11/2023 - 18:00

    What is BOC's latest variable rate including most recent rate rise? Do you offer broker's cashback too?

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 19/11/2023 - 11:55

      Hey the rate is 5.93-6.03%, please PM to chat more

  • Secseshn on 21/11/2023 - 22:49
    +1

    Pretty poor experience from the HHL team so far, had commenced an application last week and there was zero communication about the expiry for certain offers which is clearly outlined on the BOC website - this should be basic 101 details for the broker team.

    Incorrect rates quoted in various emails, informed of a rate lock fee of $700 after rates had already gone up & no further response to my queries. There's also marketing questions in their portal where you're uploading sensitive documents which doesn't sit well with me.

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 22/11/2023 - 18:03

      Hey Secseshn, sorry to hear about this.

      I have reach out to you to have this sort out.

  • Dealsclaw on 12/12/2023 - 18:32

    Hello…I am interested in the bank of China loan for my investment property. Do you provide some broker incentive/cash back on top of the bank of China loan. Around $600k of loan. 80 percent lvr ..property value $800 to $850k… Full time professional

    • AssociatedWilson Heroes HL @ Heroes Home Loans on 13/12/2023 - 09:39

      Please PM me

      • Dealsclaw on 13/12/2023 - 11:51

        I have just Pm-ed you now

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