Effective 1 April 2022, our $4,000 Refinance Cashback+ home loan offer is extended for eligible refinance applications received between 8 December 2021 to 31 May 2022 and settle by 31 August 2022.

All eligible refinance applications received between the dates above will automatically be paid the $4,000 Refinance Cashback+. There is no special action required by brokers to receive the $4,000 Refinance Cashback+ if the customer meets the eligibility criteria

Eligibility criteria

$4,000 Refinance Cashback offer changes

Refinance Cashback Pipeline management

• Eligible refinance customers who have applied before 8 December 2021 will be subject to the previous cashback amount of $3,000
• New eligible refinance applications submitted on or after 8 December 2021 will be subject to the new cashback amount of $4,000

Eligibility criteria

• $4,000 Refinance Cashback+ available for new refinance applications received between 8 December 2021 and 31 May 2022 and settled by 31 Aug 2022. Offer may be varied or withdrawn at any time.
• Limit of one $4,000 cashback payment regardless of the number of applications, applicants, properties, or loans involved per 12-month period. For joint applications, only one cashback payment will be paid to the primary applicant.
• Min Loan amount $250k and LVR7 must be less than or equal to 80%
• Offer available on Owner Occupier (Principal & Interest repayments) and Residential Investment Loans (Principal & Interest and Interest Only repayments) with either the Advantage Package6 ($395 Annual Package Fee) and Basic Home Loans.
• Offer not available for Portfolio Loans, Owner Occupier Interest Only loans, residential lending originated under family or company trusts, refinances of home loans within the Westpac Group which include Westpac, St. George, Bank of Melbourne, BankSA and RAMS.
• The cashback will be paid into a St. George transaction account within 60 days of settlement. To ensure these payments are made directly to customers, it is important that they have a transaction account linked to their home loan at settlement that is in the same name(s) as the home loan.
• Advantage Package6 Terms and Conditions apply. A $395 Annual Package Fee applies and is payable from an eligible St. George transaction account. Before deciding to acquire a St. George transaction account, read the terms and conditions, and consider if the product is right for your client.
• Tax consequences may arise from this promotion for investors. Customers should seek independent advice on any taxation matters.

Exclusions:

This offer is not available for:

• Portfolio Loans
• Switches and refinances of home loans within the Westpac Group which include Westpac, St.George, Bank of Melbourne, BankSA and RAMS
• Owner Occupier Interest Only loans • Residential lending originated under a trust .
• Residential lending under a company name.

First Home Buyer Lenders Mortgage Insurance (LMI) Offer

An extension of our $1 LMI offer

Effective 1 April 2022, the First Home Buyer $1 LMI offer5 has been extended to 31 March 2023 for eligible First Home Buyers. A reminder that this offer is not an LMI waiver as the bank will cover the cost of LMI for eligible customers. Customers are not required to receive the First Homeowner Grant or Government Concessions to be eligible for this offer.

There is no change to the eligibility criteria.

Offer Details

• For eligible first home buyers with a Loan to Value Ratio (LVR7) up to 85%, the LMI will be reduced to only $1.00.
• This offer is not an LMI waiver and clients will be charged $1.00 for LMI which will be reflected in their Loan Offer Documents.
• The offer is available on eligible home loan applications submitted from Monday 13 July 2020 and can be withdrawn or varied at any time.
• Clients must adhere to LMI obligations during the loan agreement. The LMI factsheet will also be issued to the customer along with the other Loan Offer Documents.
• Clients are not required to be receiving the First Homeowner Grant to be eligible for the First Home Buyer LMI Offer.
• First Home Buyer Flag must be selected within Apply Online and notes section to include instructions to apply First Home Buyer LMI Offer. For more information, refer to the training pack on the secure portal.
• Available with the Basic Home Loan and the Advantage Package6 Home Loan, both Fixed and Variable rate ($395 annual package fee applies).

Eligibility criteria:

• Applications must be for a first home loan for a first property (for joint applications, only one applicant must be a first home buyer).
• Loans with an LVR7 up to 85% at the time of formal approval.
• Owner Occupier with Principal and Interest repayments only.
• Maximum loan size of $850,000.
• Only one property to be financed per application.
• Available for applications submitted from Monday 13 July 2020.

Loans not eligible:

• Owner Occupier with Interest Only repayments.
• All Residential Investment Home Loans.
• Portfolio Loans.
• Construction Loans.
• Offer not available in conjunction with the Family Pledge option.
• Residential lending originated under family or company trusts.
• Switches and internal refinances of home loans within the Westpac Group which include St. George, Bank of Melbourne, Westpac, BankSA and RAMS.