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$2,000 - $6,600 Mortgage Broker Cashback (Paid on 13th & 25th Month of Loan) @ My Approved Finance Group

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$2,000 - $6,600 Mortgage Broker Cashback (Paid on 13th & 25th Month of Loan) @ My Approved Finance Group
Go to Deal
Store RepLAussieMortgageBroker on 24/05/2026 - 22:29 myapprovedfinance.com.au (794 clicks)
Last edited 10/06/2026 - 09:41 by 3 other users

Home Loan Cashback Offer – Up to $6,600 Broker Cashback

Hi Home Owners,

I am currently offering a broker cashback of between $2,200 and $6,600, depending on the settled loan amount.

Example:
• Loan Amount: $500,000
• Bank Cashback: $2,888
• Broker Cashback: $2,200
• Total Cashback: $5,088

Current Variable Rates (as at 24/05/2026):
• Owner Occupied from 5.88% p.a(Comparison Rate 6.31%).
• Investment Property from 6.08% p.a(Comparison Rate 6.51%).
BankofChina

We can arrange home loans with most major banks and lenders that operate through broker channels.

Broker Cashback Structure:
• $500k – $750k : $2,000 cashback
• $750k – $1m: $3,000 cashback
• $1m – $1.5m: $4,000 cashback
• $1.5m and above: $6,600 cashback

Recent Settlements:
• Owner Occupied loan settled at 5.88%(Comparison Rate 6.31%) with Bank of China, including a $2,888 bank cashback for loans above $400,000.
• Investment Property loan settled at 6.16%(Comparison Rate 6.15%) with one of the Big 4 banks (Loan Size: $1m / 60% LVR).Westpac

The comparison rate is based on a loan of $150,000 over 25 years.

Cashback Payment Terms:
• First half of the broker cashback will be paid after 13 months, provided the loan remains active and has not been discharged.
• Second half will be paid after 25 months, provided the loan remains active and has not been discharged.
• Cashback calculations are based on the lender’s net settled loan amount calculation method, after deducting redraw and offset balances.

If you would like to discuss your borrowing options or compare rates, feel free to contact me:

Leon
📱 0450 242 028
📧 Leon@myapprovedfinance.com.au

Director | Mortgage Broker
My Approved Finance Group

credit licence number: 384704 & authorised credit representative number: 558002

Financial Cashback Home Loan Loan Mortgage Broker

Related Stores

My Approved Financial Group
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Comments

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Search through all the comments in this post.
  • Hybroid on 24/05/2026 - 22:47

    What's happened that brokers are now offering added cashback from their own commission?

    • 0
    • GS9891 on 24/05/2026 - 23:04

      It's been a thing for a long time with some, though I guess higher interest rates give the banks room to pay out a bit more commission to brokers also maybe.

      • 0
    • Store RepAussieMortgageBroker @ My Approved Financial Group on 24/05/2026 - 23:15

      Traditionally, brokers are paid an upfront commission by the lender after a loan settles. In recent years, competition between brokers has increased significantly, so some brokers choose to share part of their commission with clients as a form of cashback incentive.

      For me, it’s simply a way of providing additional value to clients while still helping them secure a competitive loan structure and interest rate. The cashback is funded from my own commission — not by increasing the client’s interest rate or fees.

      • 1
    • star-ggg on 25/05/2026 - 10:30

      This always existed, brokers just didn't self advertise on OzB

      • 0
  • michael9865 on 24/05/2026 - 23:09

    What about fixed rates?
    Also if i buy an rundown place can i use the homeloan to help fix it up to live in?

    • 0
    • Store RepAussieMortgageBroker @ My Approved Financial Group on 24/05/2026 - 23:12

      Yes, in some cases if you purchase a rundown property, there may be options to include renovation or improvement costs as part of the home loan, depending on the lender and the extent of the works required. This can sometimes be done through a renovation loan, construction loan, or by using available equity after settlement. I’d be happy to explore what options may suit your situation.
      pls email me so we can discuss further

      • 0
      • KH234 on 24/05/2026 - 23:14

        total loan amount should be single property or combined can be more than 1.5m to receive max cashback.

        • 0
        • Store RepAussieMortgageBroker @ My Approved Financial Group on 24/05/2026 - 23:16

          it can be combined!

          feel free to email me so we can discuss your scenarios and options.

          thanks

          • 0
  • grocerygetter on 25/05/2026 - 06:36

    Most certainly a deal, though the mortgage broker is taking home less.

    • 0
    • Store RepAussieMortgageBroker @ My Approved Financial Group on 25/05/2026 - 08:35

      We share commissions with our customers which is beneficial to customers and our business

      • 1
  • duchy on 25/05/2026 - 07:53

    Not bad and interesting way for broker to increase business. I wonder how banks feel to lose customers through brokers as 80% loans are now done through them.

    Fun fact: Royal commission into banking recommended customers pay for mortgage broker services, not banks.

    • 1
    • Store RepAussieMortgageBroker @ My Approved Financial Group on 25/05/2026 - 08:48

      brokers offer more options to customers and make the application process smoother.

      with brokers, customers dont need to shop around between different banks themselves.

      • 0
    • star-ggg on 25/05/2026 - 10:37

      Fun fact: Royal commission into banking recommended customers pay for mortgage broker services, not banks.

      this would actually be more beneficial for the customer as the broker can then do a comparison across all lenders (not just ones that pay brokers) including online only ones which actually often have the lowest rates.

      • 0
  • DeToxin on 25/05/2026 - 08:20

    But of a bummer having to wait 25mths to be paid out.

    • 2
    • Store RepAussieMortgageBroker @ My Approved Financial Group on 25/05/2026 - 08:37

      it is to secure that customers are staying with us for at least 24 months, otherwise bank will claw back our commissions.

      • 1
  • Jamesk811 on 25/05/2026 - 08:34

    Why is bank of china rate so high? I refinanced to them less than a year ago and got my $2,888 cashback and my variable rate is 5.83% with comparison rate of 5.88%

    Do you have any other banks I can refinance to or is bank of china the only option you offer? People first bank are doing some great rates at the moment. @AussieMortgageBroker

    • 0
    • Store RepAussieMortgageBroker @ My Approved Financial Group on 25/05/2026 - 08:43

      it is higher now because RBA raised the rate 3 times this year.

      we deal with most banks/lenders in Australia as long as they operates in broker channel.

      bank of china is one of the most competitive banks in the market because of its good rate and cashback.

      happy to discuss further regarding your options.

      would you please email me if you are interested?

      thanks

      • 1
      • Jamesk811 on 25/05/2026 - 10:25

        Yes I will email you. RBA raising rates has nothing to do with it though because it’s all relative. My rate has been raising at the same rate as the RBA rate increases

        • 0
  • iSmart on 25/05/2026 - 08:38

    My loan only has 120k remaining… 6.89%

    • 0
    • Store RepAussieMortgageBroker @ My Approved Financial Group on 25/05/2026 - 08:43

      you can choose to cash out to borrow more if needed

      • 0
      • iSmart on 25/05/2026 - 11:35

        What if my goal is to pay off my loan? If I borrow more, wouldn't that defeat that purpose? Sorry for dumb questions

        • 0
  • edumacation on 25/05/2026 - 08:48

    Sent through an email

    • 0
  • Ozybargdias on 25/05/2026 - 08:56

    How much comission do you earn on a $500,000 loan? In other words, if I approach the bank directly, how much are they pocketing vs. paying out your comission?

    • 0
    • Store RepAussieMortgageBroker @ My Approved Financial Group on 25/05/2026 - 09:01

      we get roughly 3000+gst which varies a bit between banks/lenders.

      banks pay us commissions to get customers and 75% of new residential homeloans are arranged through brokers

      it is the agreement between us and banks.

      • 1
      • Ozybargdias on 25/05/2026 - 09:16

        Thanks for answering. To be honest, I've never understood the economics of mortgage broking. I wish banks didn't automatically bake your commission into their costs, and borrowers who would like to pay extra for your services could choose do so out of their own pockets.

        • 0
        • Just Invest on 25/05/2026 - 09:36

          Brokers also get a trail commission which is about 0.15-0.25% of the balance of the loan value paid monthly until the loan expires.
          Simply put its like a sub contracting the work so that bank does not have to employ more people. I don’t think bank will impose that commission expense into broker channel. Rather broker tends to get 0.05% lower interest rate than banks advertised rate from my experience.

          • 0
          • chobani4lyf on 25/05/2026 - 10:29

            @Just Invest: I am sure you meant to the same thing but to clarify.
            Trailing comisions are 0.15% - 0.25% per annum, paid monthly.

            • 0
      • pyramid on 25/05/2026 - 09:38

        Does broker send all docs from customer to bank ? Or Broker summarise information and get banks to approve home loans ?

        • 0
    • star-ggg on 25/05/2026 - 11:04

      It's easy to google the commission rates banks pay to brokers. The initial payment is 0.5-0.6% of the net loan amount (ie loan amount - amount in offset account) then a trailing 0.15%-0.2% pa of the net loan amount calculated and paid monthly then you still have the loan.

      Banks "clawback" the initial payment if you discharge the loan within 2 years (100% if you leave within a year, 50% if you leave within 2 years). Hence brokers will never encourage you to leave within 2 years even if a better product or rate comes out within that period. Also, some brokers will tell you they got a "better than advertised" rate but are actually just deducting a portion or whole of their trailing commission.

      • 0
      • GuyfromMelbourne on 25/05/2026 - 17:40

        Also, some brokers will tell you they got a "better than advertised" rate but are actually just deducting a portion or whole of their trailing commission. - this is NOT TRUE. Please don’t spread rumors.

        • 0
        • star-ggg on 25/05/2026 - 19:33

          Show me a broker that gives a better than 0.2% off advertised rate

          • 0
          • GuyfromMelbourne on 25/05/2026 - 22:08

            @star-ggg: Mate, there is nothing to prove. You can either learn or argue.

            • 0
            • star-ggg on 25/05/2026 - 22:27

              @GuyfromMelbourne: Let's assume what you say is true- brokers can get better than advertised rates. What is the business case of this for the bank? That they want to increase sales through the broker channel? Then this discount should be offered to all brokers and all brokers would be advertising this to grab sales. Never seen this.
              Maybe your broker is "really good". They know how to "work the system". But the banking profit model is very simple- they borrow on market and lend it to you at a higher rate, with that that rate being set by the group level profit margin which is set by the business strategy and shareholder expected return on investment. Would they set individual profit margins for each loan? Possibly there is some small variation but then again why would this particular broker be given the loans with the lowest profit margins?
              Or maybe your broker "knows someone". So they know someone who can bypass the group risk models? That's either outright fraud or APRA is going to come down on the bank with a ton of fines for having a risk system that writes high probability insolvent loans.

              • 0
              • GuyfromMelbourne on 25/05/2026 - 23:53

                @star-ggg: I never said my broker or any broker can get better rates. Banks normally avoid channel conflicts, so neither staff nor broker has an advantage. In some cases staff might have a little edge. But the broker has access to more banks so they can compete because of that.

                I just wanted to point out that brokers let go of commission to get better rates. That’s not true.

                People fail to understand that someone has to do the work, either bank staff or broker. Bank either pays salary to staff or commission to broker. Either way it has no impact on your customer’s rate.

                • 0
  • praj004 on 25/05/2026 - 09:05

    Why is the comparison rate so high?

    • 0
    • JuryWheel on 25/05/2026 - 09:53

      Also interested to know why there is such a difference between rate and comp rate - high yearly/monthly fees?

      • 0
      • Techefy on 26/05/2026 - 00:28

        for sure it's the fees

        • 0
        • Store RepAussieMortgageBroker @ My Approved Financial Group on 27/05/2026 - 02:03

          Most banks charge 395 annual package fee or just an offset fee on monthly basis.

          ASIC requires lenders to calculate it using a standard example loan:

          $150,000
          25-year term

          So if a loan has a low headline rate but high fees, the comparison rate will be noticeably higher.

          However, comparison rates also have limitations:

          They may not include all fees
          They are based on a standard loan scenario, not your actual loan size or term
          Offset accounts, redraw, and special features may affect real costs differently

          For larger loans in places like Sydney, the comparison rate can sometimes be less meaningful because the standard ASIC example loan is much smaller than typical mortgage sizes today.

          • 0
  • HKB on 25/05/2026 - 09:11

    Do those loans have fee-free offset accounts?

    • 1
    • Store RepAussieMortgageBroker @ My Approved Financial Group on 25/05/2026 - 10:37

      Suncorp offers free offset-accoun.

      As per their current promotion, $375 annual package fee will be charged and reimbursed while package is active. Savings based on 30-year loan term. Offer subject to change.

      • 0
  • ArnoldSchwarzenegger on 25/05/2026 - 09:20

    https://service.asic.gov.au/ states the credit representative number as 000556697 which does not match the number you have stated, why is this?

    • 3
    • pinklemonade on 25/05/2026 - 10:26

      It does maches on me end. 558002

      • 0
    • Store RepAussieMortgageBroker @ My Approved Financial Group on 25/05/2026 - 10:29

      https://service.asic.gov.au/Search/

      Please search 558002 which is my Credit representative number.

      If you have any further question, please let me know.

      • 0
      • ArnoldSchwarzenegger on 25/05/2026 - 10:35

        When I search for My Approved Finance Group, it comes up with the 000556697 credit representative number.

        • -1
        • Store RepAussieMortgageBroker @ My Approved Financial Group on 25/05/2026 - 11:00

          My Approved Finance Group is my company name.

          I practice home loans under my own credit representative number which is 558002.

          Finsure is my aggregator.

          Thanks

          • 0
  • weezlebub on 25/05/2026 - 10:35

    so broker gets upfront
    12 months later, after broker gets trail, broker pays back a large chunk of the commission
    24 months later, broker gets more trail, broker pays more to customer

    Technically it works - but technically it fits the definition of pyramid scheme

    • 0
    • Store RepAussieMortgageBroker @ My Approved Financial Group on 25/05/2026 - 10:40

      we do it this way because usually banks claw back 100% if client leaves within 12 months and 50% if client leaves within 12-24 months.

      As long as customers stay within that period, we share our commission with customers.

      We aim to keep a long and healthy win-win relationship with customers.

      thanks

      • 2
  • Ultramup on 25/05/2026 - 12:44

    How soon should I wait after I refinanced with a bank directly (recieving bank cashback) to refinnace again through you? Obviously I will need to stay the full 25mths to realise the broker cashbacks.

    • 0
    • Store RepAussieMortgageBroker @ My Approved Financial Group on 25/05/2026 - 21:11

      you can refinance through us anytime after you last refinance. no minimum time limit

      • 0
  • Team Ozgiftcards on 25/05/2026 - 13:15

    “ • Cashback calculations are based on the lender’s net settled loan amount calculation method, after deducting redraw and offset balances.”

    So there’s not much point if your loan is almost fully offset?

    • 1
    • Store RepAussieMortgageBroker @ My Approved Financial Group on 25/05/2026 - 21:10

      usually banks calculates the net balance in 1-2 weeks after settlement.

      which bank are you with and what is your current loan balance?

      Would you please email me Leon@approvedfinance.com.au?

      Thanks

      • 0
  • gsmel on 25/05/2026 - 19:05

    How much cash back you offer for a loan of $400k?

    • 0
  • GerryManDerJan on 25/05/2026 - 21:01

    Currently owing about 2.99M with ~250K in offset acccounts at 6.00% with Westpac. Loan started at 3M in Dec 2025.
    Makes sense to refinance?

    • 0
  • Store RepAussieMortgageBroker @ My Approved Financial Group on 25/05/2026 - 21:08

    Is it Owner occupied or an Investment property? what is the valuation of the house?

    happy to discuss in further details.

    Would you please email me Leon@approvedfinance.com.au ?

    Thanks

    • 0
  • bin555 on 26/05/2026 - 06:53

    Thanks for sharing. How come there is such a big gap in rate and comparison rate? Do they have like $750 annual fees?

    Owner Occupied from 5.88% p.a(Comparison Rate 6.31%)

    Also 6.31% rate would be higher than most lender. Is that he best you have got owner occupied with that 500,000 scenario

    • 0
    • Techefy on 26/05/2026 - 09:46

      I am also interested in knowing this

      • 1
    • Store RepAussieMortgageBroker @ My Approved Financial Group on 27/05/2026 - 02:03

      Most banks charge 395 annual package fee or just an offset fee. on monthly basis.

      ASIC requires lenders to calculate it using a standard example loan:

      $150,000
      25-year term

      So if a loan has a low headline rate but high fees, the comparison rate will be noticeably higher.

      However, comparison rates also have limitations:

      They may not include all fees
      They are based on a standard loan scenario, not your actual loan size or term
      Offset accounts, redraw, and special features may affect real costs differently

      For larger loans in places like Sydney, the comparison rate can sometimes be less meaningful because the standard ASIC example loan is much smaller than typical mortgage sizes today.

      • 0
      • bin555 on 27/05/2026 - 08:42

        thanks i understand but you didn't answer the question. The scenario listed is for $500,000. So what are the exact fees to make this comparison rate so high. None of other backs on that same sceanrio have such a large gap that charge $395 annual fees.

        Also their true rate is 6.31% which again is very high currently in the market. It's even higher than big 4 lenders.
        Is that the best rate you can offer?

        • 0
  • gsmel on 26/05/2026 - 20:01

    I am not able to send an email and send you a message, can you reach out to me with options to contact you? Thanks

    • 0
  • gsmel on 01/06/2026 - 23:44

    Hi Aussie Broker - still waiting for your answer?

    • 0
  • gsmel on 02/06/2026 - 12:54

    Thanks for your OZ b message!

    I am With Bank of China - Looking to find out what cashback options I have available from the bank on top of your 1K cashback?

    This is my email which is failing multiple time reaching to you, I have also messaged you on WhatsApp a few days ago for same, yet to hear back.

    • 0
    • Store RepAussieMortgageBroker @ My Approved Financial Group on 02/06/2026 - 14:00

      sorry for late response.

      I have just replied your whatsapp message.

      thanks

      • 0
  • praj004 on 03/06/2026 - 21:10

    Does anyone have/had a home loan with BOC, what is the banking experience like (pros/cons)?
    Thanks in advance!

    • 0
    • Store RepAussieMortgageBroker @ My Approved Financial Group on 04/06/2026 - 08:15

      pros: good rate and cashback
      cons: slow application procedure, customers need to go to the branch to open offset bank account.

      • 0
      • praj004 on 05/06/2026 - 10:45

        Have DM'ed you on whatsapp. No response received yet.

        • 0
  • mm660 on 04/06/2026 - 13:52

    AussieMortgageBroker, "offering a broker cashback of between $2,200 and $6,600, depending on the settled loan amount.", where is $2200 coming from? It's not in your Broker Cashback Structure.

    • 0
    • Store RepAussieMortgageBroker @ My Approved Financial Group on 05/06/2026 - 14:19

      it is from my commission from the bank

      • 0
      • mm660 on 05/06/2026 - 15:18

        I meant $2,200 is not in your stated cashback structure.

        Broker Cashback Structure:
        • $500k – $750k : $2,000 cashback
        • $750k – $1m: $3,000 cashback
        • $1m – $1.5m: $4,000 cashback
        • $1.5m and above: $6,600 cashback

        • 0
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