Refinance Rebate Calculator: What's The Best Cashback I Can Get?

Disclaimer: This calculator is best used as a guide only. The terms and conditions of cash back vary between lenders. Moreover, offers may be withdrawn by lenders without notice. So, please talk to one of our mortgage brokers to confirm availability and eligibility before proceeding.

Did you know that some banks will actually give you money to refinance your mortgage with them?

You can benefit from the intense competition between banks by switching to a lender that has a competitive interest rate and a cash rebate.

Please call our mortgage brokers at 1300 889 743 or fill in our online enquiry form to see if you should refinance your home loan during the COVID-19 pandemic.

Current special offers

$3,000 plus $1,000 in refinance rebates

One of our lenders is now offering a refinance cashback of up to $3,000 for applications submitted by 10 July 2020 and settled by 10 November 2020.

Incredibly, they’re offering an additional $1,000 to front line workers such as teachers, emergency workers, and health professionals on top of the original $3,000. The list of eligible professional is extensive and includes, university and vocational education teachers, social workers and podiatrists, as well as medical practitioners, paramedics and special education teachers.

Eligibility criteria:

  • $2,000 cashback available for loans greater than $250,000 but less than $750,000.
  • $3,000 cashback available for loans greater than $750,000.
  • For the additional $1,000 frontline workers’ bonus, your profession must be listed in the list of eligible professionals.
  • Both P&I and interest-only repayment types are accepted.
  • The maximum loan to value ratio (LVR) should be equal to or less than 90% of the property value.
  • The offer is limited to one cashback per customer.
  • The following loans are excluded from the offer – Access Equity (Line of Credit), Purchase, Construction, Internal Refinance, Debt Consolidation, Cash-out (when not included with an eligible refinance).

Please call us on 1300 889 743 or enquire online to find out if you qualify.

$3,000 refinance rebate

One of our major lenders is now offering a refinance rebate of $3,000 for refinancing a home loan amount of $250,000 or more with them.

They’re also offering a $1,200 cashback to eligible customers refinancing a home loan amount that’s above $150,000 but less than $250,000.

The offer is available for applications submitted by 31 August 2020 and drawn down by 30 November 2020.

  • $1,200 cashback available for loan amount of at least $150,000 but less than $250,000.
  • $3,000 cashback available for loan amounts equal to or greater than $250,000.
  • Available for both owner-occupied and investment home loans.
  • Available for principle and interest (P&I) and interest only loans.
  • Available to new customers as well as existing customers with this bank that are refinancing an additional amount from another lender (total new lending must be at least $250,000 for the $3,000 rebate and $150,000 for the $1,200 cashback).
  • Limit of one refinance rebate per customer no matter the number of loans being refinanced e.g. if you are refinancing two $250,000 loan amounts, you can only receive one $3,000 rebate.
  • Limit of one refinance rebate in a 12-month period.
  • Rebate not available for line of credit accounts.
  • The bank will credit your cashback within 14 days of receiving a completed refinance rebate form and confirming that you are, in fact, eligible for the rebate.

Please call us on 1300 889 743 or enquire online to find out if you qualify.

$2,500 refinance cashback offer

This $2,500 refinance cashback offer is available for applications submitted by 31 August 2020 and drawn down by 31 October 2020.

  • To be eligible, the total loan amount must be at least $300,000.
  • The offer is limited to one cashback per eligible loan irrespective of the number of joint borrowers.
  • Available for both owner-occupied and investment home loans that are less than or equal to 80% of the property value.
  • The bank will credit your cashback to an account held with the lender; the payment will not be made in cash or cheque.

Interestingly, this offer is available for new purchases as well.

$2,000 refinance rebate per security

One of our major banks is offering a $2,000 refinance rebate per security for applications submitted before 31 July 2020 and settled by 30 September 2020.

That means if you have five properties, you can potentially get $10,000 in rebates.

Key features:

  • A $2,000 cashback is paid for every property that is refinanced with the bank.
  • Applicants must open/have a transaction account linked to the home loan from the same bank. This account must be kept open for at least 60 days after settlement for the cashback to be paid into.
  • Applicant’s home loan repayments must be directly debited/paid from this transaction account.
  • Must include the lender’s home loan package. A $395 annual package fee applies.

To qualify:

  • Minimum lending of $250,000 per property is required.
  • Only available for owner-occupiers (principal and interest repayment) and residential investment loans.

It excludes:

You can cross-collateralise the loan, as long as the average loan amount is $250,000 or more per security, you will eligible for the rebate.

$2,000 refinance rebate

With a loan balance of $250,000 or higher, you may qualify for a $2,000 refinance cashback with a couple of lenders including a major lender.

A $2,000 rebate per property is also available with one of our lenders.

  • Only available on owner-occupied home loans.
  • Only available for principle and interest repayments (not interest only).
  • Top-up amounts or any new money you may want to borrow will not count towards the $250,000 minimum loan balance amount.
  • The mortgage you are refinancing must be from another financial institution, not a lender under this bank’s flagship brand.
  • The lender will credit the $2,000 cashback to your linked transaction account within two weeks of the loan transfer.

Please call us on 1300 889 743 or enquire online to find out if you qualify.

$2,000 refinance cashback offer for loans up to 90% LVR

One of our lenders is offering a special $2,000 cashback for refinances up to 90% LVR (loan to value ratio).

The offer is available to new refinance applications received by 31 July 2020 and that settle by 30 October 2020.

To qualify for the cashback offer: