NAB is now offering $1,500 cashback on home loans, offer expires 31-Mar-2017.
NAB $1,500 Cashback with an Eligible NAB Home Loan and Banking Bundle
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Westpac is also calling customers offering ~$1,750 cash and a ~3.85 variable rate.
… Seems to be the season for refinancing with the big 4!
but need to jump boat to each other, not to themselves…
Do u have the link for that as all I can see on the westpac website is the $1250 cash offer
They wouldn't tell me more without having me come in to discuss it with them.
I might be able to provide more details tomorrow.Did you meet them yesterday? If interest rate ia comparable I would rather have $1750 than $1500 (NAB)
The whole thing was a comical mess. Do not recommend.
On Wednesday I received a phone call from my local branch, asking about my homeloan. I am pretty happy with my set up at the moment, so tried to dismiss this. I think he got desperate and 'leaked' their offer. $1,750 sign up bonus and a 3.85% rate. I am now intrigued. So agree to go in for a face to face.
On Friday I head in, meet with the guy who phoned earlier. He does a fairly generic financial situation questionnaire with me (aka getting more personal info out of me for their system), before saying that I was lucky, and their homeloan specialist was available immediately to talk about the finer details of the offer.
This is where it gets hazy, as the details she provided contradicted herself, the guy and the printed flyer she gave me. My best estimate, was it was actually a $1,250 offer, on a 3.99% HONEYMOON RATE for 2 or 3 years. There seemed to be a $395 annual fee as well, so it would basically cancel each other out.
I was pretty pissed at the end of this, waster over half an hour for a lie and a very average deal. Some quotes from the homeloan specialist include "the economy, meh, nobody understands that. That's why a variable loan is best" and my personal favourite, was she didn't understand the difference between a 0.2% discount and a 0.02% discount, said it would all even out in the end.
Maybe you have to twist their arm, and they can go up to $1,750?
Overall, it still didn't seem worth it though.
Is this only for refinance? or new home loans too?
No new home loans according to the link
Same offer for refinance as long as its over 250k
Interest rate ?
in the TC .. says " Apply by 28 February 2017" .. also.. we dont know what rate is being offered ..
Rate depends on whether its owner occupied or investor. Whether its interest only or principal and interest. Also factors the deposit whether its 20% or not.
hasn't this offer always been around?
Yes. It's nothing more than an extension. They used to offer 250k velocity points instead which would be much better but now just the cash back
For the NAB deal, you had to apply by the 28th February 2017. However Bank of Melbourne have a $1500 cash back deal for applications received by 31st May 2017 and settlement by 31st July 2017. Westpac have a similar deal for $1250 cash back for refinance deals.
I just got my application completed before the 28th of Feb 3.99% variable and 3.89% fixed 1 year $1500 cashback and first year choice package fee free. Good riddance CBA
Any fees for leaving cba?
Depends on the loan type you have with CBA, but the trick is to switch to the no fee CBA loan type before settlement.
https://www.mutilatethemortgage.com/2012/10/16/how-to-kill-c…
Not bad. Any similar offer for CBA by chance?
CBA offered 4.17 not bad but not as good as 3.99 with the cashback and first year fee free.
Link says
"Apply for a new NAB Home Loan of $250,000 or more between 23 January 2017 and 28 February 2017, be approved, and draw down by 31 May 20171"