FIRST HOME BUYERS WITH LMI

Heritage Bank announced $2,000 cashback offer for First Home Buyers with Lender’s Mortgage Insurance. Along with Heritage People first customer service, this offer is sure to benefit your clients in the market for their very first property.

$2000 Cashback offer for our First Home Buyers with LMI

Eligibility

  • The applicant/s must be an Eligible First Home Buyer and application submitted as such
  • Application must be fully submitted by 31 October 2020
  • Loan must be funded on or before 28 February 2021
  • Minimum new home loan amount of $250,000
  • Cashback paid once only for loans taken out over the same security
  • Cashback payment will be made to the Heritage Transaction Account held under the same Membership as the eligible Home Loan fund

What is an Eligible First Home Buyer?

  • To be an Eligible First Home Buyer the applicant must:
    • Borrow $250,000 or more to purchase their first home, either as an owner occupied or investment home; and
    • Have a Loan to Value ratio (LVR) of more than 80% requiring them to pay Lender’s Mortgage Insurance (LMI); and
    • Be qualified as a First Home Buyer under one of these two criteria:
      1. Be an eligible recipient of a government First Home Owner Grant and/or first home stamp duty concession in their state or territory OR
      2. Be purchasing their first home in Australia for investment purposes.

Available on

  • Owner Occupied & Investment lending
  • Principal and Interest or Interest Only
  • Discount Variable, Standard Variable, and Fixed Rate Home Loans (including Home Advantage Package eligible loans)
  • This offer is also available for house & land loans, as long as the loan is partially drawn before the 28 February 2021 deadline and the total loan exceeds $250,000

Cashback payments made

  • Direct credited to the Member’s Heritage Transaction Account 60 days after settlement
  • Payments will not be made to any other account or product type

Where Member does not have a Transaction Account open they will receive a notification prompting them to open one so we can process the payment.

With Cashback Contribution: