REFINANCE CASH BACK

Extending the $2,000 Refinance Cashback for applications received by Sunday 31 January 2021 and settled by Wednesday 31 March 2021.

Introducing a new bonus $2,000 Refinance Cashback for loans with a maximum LVR of 80%.

The bonus $2,000 Cashback for loans with a maximum LVR of 80% will be paid on the first application only to eligible customers on top of the current $2,000 Refinance Cashback.

$2,000 Refinance Cashback Offer extension

The important detail:

  • A $2,000 Refinance Cashback will be paid for every property that is refinanced to Bank of Melbourne with minimum lending of $250,000 per property.
  • Multiple applications do not need to be entered for multiple $2,000 refinance cashbacks to be applied.
  • Only 1 cashback per property refinanced will be paid regardless of the number of loans involved.
  • Applicants must have a Bank of Melbourne transaction account linked to the home loan at the time of settlement. The transaction account must be kept open for at least 60 days after settlement for the cashback to be paid into.
  • Applicants’ home loan repayments must be direct debited from this Bank of Melbourne transaction account.

Eligibility Criteria:

  • For new refinance applications received from Wednesday 1 April 2020 to Sunday 31 January 2021 and settled by Wednesday 31 March 2021.
  • Available for Owner Occupier (Principal & Interest repayments only) and all Residential Investment home loans.
  • Available for Basic home loans and home loans under the Advantage Package. $395 annual package fee applies.

Exclusions:

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

Bonus $2,000 Refinance Cashback Offer for loans with a maximum LVR of 80%

The important detail:

  • The bonus $2,000 Refinance Cashback for loans with a maximum LVR of 80% will be paid on the first application only to eligible customers on top of the current $2,000 Refinance Cashback.
  • Only 1 bonus cashback will be paid regardless of the numbers of customers, properties or applications involved.
  • Applicants must have a Bank of Melbourne transaction account linked to the home loan at the time of settlement. The transaction account must be kept open for at least 60 days after settlement for the cashback to be paid into.
  • Applicants’ home loan repayments must be direct debited from this Bank of Melbourne transaction account.

Eligibility Criteria:

  • New refinance applications received from Friday 18 September 2020 to Sunday 31 January 2021 and settled by Wednesday 31 March 2021.
  • Available for Owner Occupier Loans (Principal & Interest repayments only) and all Residential Investment Loans (Principal & Interest repayments and Interest Only repayments).
  • Maximum LVR of 80%.
  • Available for Basic home loans and home loans under the Advantage Package. $395 annual package fee applies.

Exclusions:

  • Switches and refinances of home loans within the Westpac Group which include St.George, Westpac, Bank of Melbourne, BankSA and RAMS.
  • Loans with an LVR greater than 80%.
  • Portfolio Loans.
  • Owner Occupier Interest Only loans.
  • Residential lending originated under a trust.

The Details:

Advantage Package: Advantage Package Terms and Conditions apply. A $395 annual package fee applies and is payable from an eligible Bank of Melbourne transaction account. Applicants home loan repayments must be direct debited from this transaction account. Read the Bank of Melbourne transaction account terms and conditions and consider if the product is right for you. Refer to bankofmelbourne.com.au.

$2,000 Refinance Cashback & $2,000 Bonus Refinance Cashback offer: Credit criteria, fees and charges apply. Terms and conditions available at Bank of Melbourne. $2,000 Refinance Cashback per property for new refinance applications received between 1 April 2020 to 31 January 2021 and settle by 31 March 2021. Offer current as at 1 April 2020. Only 1 cashback per property refinance will be paid regardless of the number of loans involved. One $2,000 Bonus Refinance Cashback for a new refinance application submitted between 18 September 2020 to 31 January 2021 and settle by 31 March 2021 with a maximum LVR of 80%. Offer current as at 18 September 2020. Only 1 bonus cashback will be paid regardless of the numbers of customers, properties or applications involved. Offers available for Owner Occupier with Principal and Interest repayments and investment loans. Offers available on the Advantage Package and Basic Home Loans. Offers may be varied or withdrawn at any time. $250K min loan per property refinanced applies for the $2,000 and $2,000 bonus Refinance Cashback. Excludes Portfolio Loans, switches and refinances of home loans within the Westpac Group which include St.George, Westpac, Bank of Melbourne, BankSA and RAMS. Offer not available for Owner Occupier Interest Only loans or residential lending originated under family or company trusts. The cashback will be paid into a Bank of Melbourne transaction account within 60 days of settlement. The transaction account must be linked to the home loan at the time of settlement and kept open for 60 days after settlement. Tax consequences may arise from this promotion for investors and customers should seek independent advice on any taxation matters.

With Cashback Contribution: