Third-Party
Hello Bargain-hunters,
I am offering a broker cashback back of $2,000 to $6,000 depending on loan amount. Broker cashback is in addition of upto $3,000 cashback offered by banks on my panel.
Example: Loan of $500,000 you will get $3,000 bank cashback and $2,000 broker cashback. Total of $5,000 cashback.
For variable rates, we are getting rates as low as 5.54%(Comparison Rate 5.55%) for large loans with low LVRs. The advertised rates start from 5.64%(Comparison Rate 5.65%) for Owner Occupier loan with principal and interest repayments.
| Loan Amount | Broker Cashback |
|---|---|
| Settled Net Loan Amount ≥ $500,000 and Settled Net Loan Amount < $750,000 | $2,000 |
| Settled Net Loan Amount ≥ $750,000 and Settled Net Loan Amount < $1,000,000 | $3,000 |
| Settled Net Loan Amount ≥ $1,000,000 and Settled Net Loan Amount < $1,500,000 | $4,000 |
| Settled Net Loan Amount ≥ $1,500,000 | $6,000 |
Below are 2 recent applications settled to explain how the cashback works. The rates vary a lot because of discretionary pricing, we need to submit requests with various banks to get the most suitable option for a client.
Application-1 - Total cashback of $7,000 and a competitive rate.
| Field | Value |
|---|---|
| Loan Amount | $1,000,000 |
| Loan to Value Ratio | upto 70% |
| Interest Rate achieved by negotiation | 5.64%(Comparison Rate 5.67%). Owner Occupier Loan with Principal and Interest repayments. Variable Rate product |
| Bank Cashback | $3,000 |
| Broker Cashback | $4,000 |
| Fees rounded to higher side | $1,000 |
Application-2 - Total cashback of $8,000 and a competitive rate.
| Field | Value |
|---|---|
| Loan Amount | $1,600,000 |
| Loan to Value Ratio | upto 70% |
| Interest Rate achieved by negotiation | Variable Rate of 5.59%(Comparison Rate 5.60%). Owner Occupier Loan with Principal and Interest repayments. Variable Rate of 5.74%(Comparison Rate 5.75%) for Inv Loan with Principal and Interest repayments. |
| Bank Cashback | $2,000 |
| Broker Cashback | $6,000 |
| Fees rounded to higher side | $1,000 |
Key conditions for broker cashback are below:
- First half cashback will be paid into your nominated account after completion of 13 months. If the loan is not paid off and is still active.
- Second half cashback will be paid into your nominated account after completion of 25 months. If the loan is not paid off and is still active.
- Loan amount will be based on bank/lender's commission calculation method. That is net off redraw and offset.
Please refer to this link for detailed broker cashback terms and conditions.
The best way to reach out, is to book an obligation-free appointment in my calendar. You can also call me on my mobile number mentioned in the signature below.
General Advice Warning- The information provided on this site is on the understanding that it is for illustrative and discussion purposes only. Whilst all care and attention is taken in its preparation, any party seeking to rely on its content or otherwise should make their own enquiries and research to ensure its relevance to your specific personal and business requirements and circumstances. Terms, conditions, fees and charges may apply. Normal lending criteria apply. Rates subject to change. Approved applicants only.
Comparison rate warning: Interest Rates are correct as at today and subject to change at any time. The comparison rate is based on a loan amount of $150,000 over a 25-year term. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Subject to lenders terms and conditions, fees and charges and eligibility criteria apply. Your full financial situation would need to be reviewed prior to acceptance of any offer or product.
My Profile:
I am an ex-banker with 14+ years of finance industry experience.
Regards,
Roopali
0415 719 759
Director | Mortgage Broker - Lending Workshop
Credit Representative Number 544854| Australian Credit License Number 389328
Email info@lendingworkshop.com.au
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Any good rates for investment interest only.