Hi All,
I am looking to refinance and I would like to ask everyone what do they think about this St George offer?
I am looking to refinance - current loan about $350~$400k.
St George is offering 4.75 variable rate with $5k cashback.
Do you guys think its a good offer
yes or no
Nothing like free financial advice on a public forum
If this thru a broker or direct? 5k cash is pretty nice
Also does it come with offset?
Keep the 5k handy for the inevitable variable interest rate rise(s) :+)
no offset, thru broker
Yeah sounds like a good deal to me. Very competitive rate and high cashback.
Broker here, $5,000 cashback is being reduced to $4,000 from tomorrow.
Hi Broker - would any instituion offer a refinancing on a loan on vacant land? Own home but have land. Loan to land value is approximately 40%
Broker here - yes, this is the best deal on market right now, we do lots of StG 👌
Aidan.
Hi Broker - would any instituion offer a refinancing on a loan on vacant land? Own home but have land. Loan to land value is approximately 40%
@Msfrugal
Yes 100% - many lenders will do this.
Aidan.
Thanks. Any With a Cashback?
what is st george like with waivering the package fee for a year or two? any others that offer cashback and no fees for offset?
ANZ offset is $10 per month which is decent
@MeepMorp St George won't give $4k and waive fees.
However, Great Southern Bank or Suncorp could be a good fit for you 👍 (cashback and no annual fees)
Aidan.
Broker here - meh! It's ok I guess.
Broke person here - $5k cash? Where do I sign up?
Broke here - yes
I wouldn't deal with St George if they gave me 50K
please elaborate
Just a bunch of clowns. Personal experience they have lost applications with all my financials attached to them, cancelled accounts by mistake just to name a few.
Just ask the Russians for all your financials.
How about 51K…?
That's the magic number :)
@Anth0ny what did you end up doing?
Aidan.
i applied for the st george bank one. still waiting for the 5k cashback. but i applied it before 31 dec 2022.
Sharing my Experience - In SE Qld, On Offer was $ 4000 K Cash back with various criteria, which I met. Applied with Mobile Lender over the phone and followed up doco. My existing bank could do payout in under 3 weeks The cashback of $ 4K is only after the first months direct debit for the min monthly repayment goes through, after which I will cancel and do my own arrangements for regular payments.
No issues at all. Very Straight forward. Local Branch was excellent as well as the mobile lender. Dealt Direct & with no broker.
Most banks in SE Qld are offering 2 K for the same thing. I saw this as an opportunity to pump $ 4K into HL and the loan i am going to is exactly the same as what I had (no frills type variable rate with redraw etc) so it was like for like.
I signed up previously for a $4000 cashback and it was on the level and i got it paid. Then I turned around and left them 3 months later for a different mortage with a a $1000 cash back and a lower rate.. Overall they lost money on that deal with me. So I thought I would be sort of blacklisted from them in future ( I didin't mind if so) But no a year later they call back saying if I come back they will give me $5000 and they couldn't care less that I screwed them over last time. So signed up for this one too lol.
Just fyi if anyone reading this wants to do similar DO NOT USE BROKERS as it is not possible if you do as you will get stung by something called a clawback clause.
That’s gold. Similar thing happened with me last year and was happy to take their cash.
Question is…. How long will you stay with them this time?
please add poll with yes or no. I love when people make their life decisions based on Ozb polls.