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$1k Extra Cashback on Top of Any Home Lender Offer for Refinances - Balances over 400k Net of Offset @ Integral Loan Solutions


Providing an update on recent lender changes this last month and what the majority of my client base has been doing this past month.

A selection of offers at different lenders:

Bank First 1.99% 3 year fix P&I 3.10% comp rate owner occupied & 2.24% 3 year fix p&I 3.49% comp rate. Beating all other lenders on 3 year fixed market. Only take this option if you fix the full portion as their variable rates arent the best. Bank first is a mutual bank - Used to be owned by teachers mutual Victoria. After multiple calls to their bdm they like pure vanilla deals. Nothing complex.

Adelaide bank Most large loan size 650+k wanting variable low lvr under 70% Adelaide is the most aggressive in this space on the market for pricing requests. Also clients going to this bank wanting a fix with a full offset against the fixed loan.

CBA Still doing 2.19% comp rate 3.89% 2 year fix p&i under 80% lvr on owner occupied after a pricing request. Comp rate reduced after pricing request. SLA slow.

St George Owner occupied 2.64% redraw variable product comp rate 2.66% comp rate 2.24% owner occupied 2 year fix p&I comp rate 3.45% reduced after a pricing request. They do fast refinance.

ING 2.64% variable with offset comp rate 2.98% comp rate 2.19% 2 year fix comp rate 3.79% owner occupied P&I. 1-2 day sla quick.

NAB No cashback so there are better options but they are matching the better rates on market for a few products including 2 year fix.

Suncorp most aggressive on pricing requests of late on owner occupied and investment. 2.19% 2 year fixes owner occupied P&I and 3.16% comp rate reduced after pricing request.They also do fast refinance. FRONTLINE WORKERS get an extra 1k for their refinances.

ANZ 2.72% variable redraw product owner occupied P&I 2.76% comp rate. 2.29% 2 year fix comp rate 4.02% P&I owner occupied 2.49% 2 year fix investment p&I 4.53% comp rate reduced after pricing request.

AMP 2.59% variable with offset comp rate 3.00% owner occupied P&I

Westpac under 70% lvr 2.19% comp rate 3.43% 2 year fix owner occupied and 2.49% comp rate 3.92 % 2 year fix on investment both p&I both comp rates are reduced after a pricing request. They do fast refinance.

Teachers mutual Bumped their rates back up to match others and 17+ days sla not the best choice at the moment. Was better when they were beating the others on rate by 0.15% 4 weeks ago.

Macquarie Lender of choice if you need a quick sla. Best rates on 70% lvr or under.

Bluestone Prime product 2.74% comp rate 2.75% theyve lowered fees to 550 total. You now get 1 free valuation with them. Advantage of this product is no comprehensive credit reporting - ie no checking with other banks about you if they have questions, no credit scoring and they only need 1 month clean statement history for debt consolidations into the mortgage. Amazing 1-2 day sla.

Let me know if you have any questions of other products or rates at each lender?


Most majors have blown out including CBA at 20+ business days right now.
St George is at 8 days
NAB 12+ days
Westpac 20 days
ANZ 15 days now
Suncorp - 10 days
ING - 2 days
Macquarie - 2-3 days
Bankwest - 3 days

Cashback Deals

ANZ deal is now 3k cashback

Suncorp is 2k cashback 250k – 750k and 3k for 750k+ and an extra 1k from emergency workers or teachers.

Westpac group and St George is 3k cashback at the moment until 10th of september - will see after if they extend

CBA 2k

Edit - NAB just released a 2k cashback 3pm 03/09/2020

Virgin money 2.5k

BOQ 2.5k

My experience 7 years in commsec and cba on a margin lending desk and as in in house cba branch home lender. Nearly 4 years as a mortgage broker running my own company.

Covid19 Hope everyone is going well in these times. Lenders are being conservative ie using less bonus comms and overtime to use for max borrowing power. They dont like casual work as much(some lenders), lower lvrs offered for self employed. 90% no lmi products for doctors accountants lawyers only 2 banks cba and nab have their products still. Didnt mention ANZ as they are quite slow right now. Westpac group is now 85% no lmi for professionals. Valuations are coming in lower so we monitor this before lodging if we think you are close to 80% lvr.

Kind Regards

Adrian Player | Director

M: 0416643638

E: [email protected]

W: www.integralloansolutions.com.au

Adrian Player is a credit representative (498364) of BLSSA Pty Ltd ACN 117 651 760 (Australian Credit Licence 391237).

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closed Comments

  • Solid write up, good luck with your business. Lending rates are very sharp especially in the Owner Occupied fixed rates.

    • Thanks bausie, cant include all lenders. but gives everyone a good mix to look at and see whats changing. Appreciate the comment.

      • Only other one I would throw in the mix is Bank of Melbourne with their Base Variable and the $3000 refinance rebate. SLA is pretty decent all things considered for a basic customer.

        • Same as st george. Its just rebranded st george for victoria. I agree especially with fast refi. Not a bad offering.

        • Any idea how long will it take to settle the refinance from start to finish with Bank of Melbourne? I am looking to try this out ..

          • @ujwols: They are at around 9 days at the moment. Expect 3-4 days for doc pre screen + 9 days to see an assessor + normally 2 times going back and forwards with the assessor on average 3 days each time + formal approval docs to be issued 5-7 days + discharge entered then and you signing of the docs 20 days standard for other bank to accept settlement. This is best case scenario.

  • are those cashback's per account or per property? If I refiannce more than 1 property, do I get cashback for each property?
    Any other refinance charges like… application fees, valuation etc… I understand there are certain mandatory fees payable like govt. registration and mortgage discharge to my current bank, but anything on top of that?

  • Mental note. Get a bigger mortgage next time so I can qualify for all these refinance cashbacks….

    • +1 vote

      If you have a small mortgage you've obviously done something right to get it down so low! props to you. 250k is the lower amount for the majority of the cashback offers.

  • Great write-up, thumbs up from me. It has probably changed but I started my refinance with ANZ in mid May and now the refinance is still not yet completed. So not sure about ANZ being 15 days SLA.

    • I lodged around 6 million in May 2020 to ANZ. All my apps from the first 3 weeks in May are settled. Ive got 3 pending booking settlement from the last week of May to give you an idea.

      Yeh ive submitted 5-6 in the last 1.5 months and most are formal awaiting docs. So 15 business days is accurate right now for ANZ. Not 40+ days which they were after the last week of May.

    • ANZ take forever to do anything, every home loan section has a 3-4 business day SLA. I would suggest looking at banks that do their home loan processing in Australia.

    • Same here with ANZ.. lodged on May 29

  • Good luck with your business and thanks for the good write up.

  • Solid work writing this up…could you share what big 4 banks are offering for investment fixed IO 1/2 yrs? Thanks

  • Why are so many people going with a fixed rate loan?

    • Because the gap for fixed and variable is great then 50 basis points at the moment and were at 0.25% at the rba level with the governor saying he wants to do quantitative easing and no more rate drops. I cant tell you what will happen in the future but when that gap is wide people see value in the fix and if they want to maintain flexibility they have a split loan with a portion variable for offset and extra repayment.

      • Surely the reason the fixed rates are low are that the banks are smarter than us and know they can make more money.

        I'm interested in looking at a partial fixed loan change for me, but have always looked at fixed rates as a way to have security in your repayments, not a way to save money.

        • I agree which is why most clients arent looking at 3-5 year fixes just 2 year fixes. Yes correct there is always upside and downside so it has to suit your situation.

  • What is St George's OO fixed 2 years after pricing request? Is the $3k rebate available via broker? Their website says online only

    • 3k is available via brokers. Ive confirmed with my bdm just last week.

      2.24% 2 year fix owner occupied. But a pricing request would be done prior to lodging to confirm they wont give you a further discount.

      • Is the $1k extra cashback from you payable at intervals within 24 months at 50/50 like other brokers?

  • Just got my home loan refinanced by Adrian through his last OzBargain post. I can vouch for his quality service and reliability.

  • What is your average response time?

    • +1 vote

      Ive had 3-4 enquiries in the last 24 hours, just answered James now from Yesterday in the late afternoon. Im going through the others right now.

      Most of the time it takes me 1-2 days to lodge to a lender once i have all the documents.

  • So since St. George is now offering $4k cashback, if we do it through you, that means extra 1k extra cashback? Total $5k?

    • Correct but the St George sla's are blowing out due to the volume of apps for this offer. So expect 3-4 months to settle if you go down this option at the moment.

      • oh wow. I hope other banks match the cashback offer too. I am currently tied in a fix loan and want to get out. This cashback will help me cover most of my break cost so very much looking forward to it.

        So this 1k cash back from you, is there any commitment attached? after how long will you provide the cash back?