Bank SA are offering 4K cashback deals on refinancing over $200k mortgage plus extra 2k per additional property. You would have to do your sums but seems like a good incentive. Also consider break/ setup costs.
Also I believe there is a deal going additional cashback of . 4% of your loan if you're a Port Power member. Would have to check if this is still valid. Works out to about $400 per 100k.
Any experience please feel free to share below as I’m currently looking at this :)
Eligible customers could get $2,000 for each property you refinance plus a bonus one off $2,000. Terms, conditions, fees and exclusions apply.1
For new Owner Occupier with Principal & Interest repayments and Investment loans. Available on our Advantage Package home loans, with a $395 annual package fee and Basic home loans (no annual fee). $200k min loan per property refinanced. Excludes refinances from within Westpac Group. Apply by 31 Jan 2021, and settle by 31 Mar 2021.
Only 1x $2k cashback per property refinance will be paid regardless of the number of loans involved. Only 1x $2k bonus cashback will be paid regardless of the numbers of customers, properties or applications involved with a maximum LVR up to 80% at time of approval.
How does the refinance cashback offer work: Credit criteria, fees and charges apply. Terms and conditions available at BankSA.$2000 Refinance Cashback per property for new refinance applications received between 1 April 2020 to 31 January 2021 and settle by 31 March 2021. Offer available for Owner Occupier with Principal and Interest repayment and investment loans. Offer current as at 1 April 2020. Only 1 cashback per property refinance will be paid regardless of the number of loans involved. One $2,000 Bonus Refinance Cashback for a new refinance application submitted between 18 September 2020 to 31 January 2021 and settle by 31 March 2021. Offer available for Owner Occupier with Principal and Interest repayments and investment loans with maximum LVR of 80%. Offer available on the Advantage Package and Basic Home Loans. Offer current as at 18 September 2020. Only 1 bonus cashback will be paid regardless of the numbers of customers, properties or applications involved. Offer may be varied or withdrawn at any time.$200k min loan per property refinanced applies for the $2000 refinance cashback and $2000 bonus Refinance Cashback. Excludes Portfolio Loans, switches and refinances of home loans within the Westpac Group which include St.George, Westpac, Bank of Melbourne, BankSA and RAMS. Offer not available for Owner Occupier Interest Only loans residential lending originated under family or company trusts. Advantage Package Terms and Conditions apply. A $395 annual package fee applies and is payable from an eligible BankSA transaction account. Applicants home loan repayments must be direct debited from this transaction account. Read the BankSA transaction account terms and conditions and consider if the product is right for you. Refer to banksa.com.au. The cashback will be paid into a BankSA transaction account within 60 days of settlement. The transaction account must be linked to the home loan at the time of settlement and kept open for 60 days after settlement. Tax consequences may arise from this promotion for investors and customers should seek independent advice on any taxation matters. ↩