Refinance Cashback Offers

Refinance your home loan and you could be eligible for up to $2,000 cashback^^.

What is a refinance cashback offer?

Cashback deals are a marketing incentive some lenders use to attract new customers looking to refinance their existing loan.

Is a cashback deal on a home loan better than a low rate?

A cashback offer can sound very tempting. But your home loan is a long term financial commitment, so it makes good financial sense to to know which puts you ahead over time - a lower rate or a cash payment. Some lenders are offering cashbacks - worth up to $2,000** when you refinance.

But is that a better deal than a low rate? Contact your Mortgage Choice broker to crunch the numbers and let you know for sure, or fast track your enquiry with our free home loan quote and get started below.

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What home loan refinance cashback offers are available?

As of 1 March 2024, the following refinance cashback offers are available from our panel of lenders~

$3,000 expires 30/04/2024

$2,000 from 01/07/2023

Transparent Lenderlogo St George 200X200

$2,000 from 01/07/2023

$2,000 from 26/08/2023

$2,000 from 08/09/2023

$3,000 from 08/09/2023

It is important to understand that each lender has its own eligibility requirements when it comes to a refinance cashback offer and that offers are usually only available for a limited time.

Speak to a broker to see if a cashback offer is right for you.

Why choose Mortgage Choice?

Your Mortgage Choice broker is the go to expert on home loans. They’ll crunch the numbers so you can be sure you’re getting a deal that suits your needs.

They can contact your current lender and try to negotiate a better rate on your behalf. And, if your current lender won’t budge on your rate, your broker can let you know in just a few minutes if a better deal is available.

Your Mortgage Choice broker works closely with over 25 lenders and is up to speed on each lender’s rates, fees, special offers, borrowing limits and all the information your broker needs to make an informed recommendation on which loan and lender is right for you.

Is refinancing worth the fuss?

Refinancing refers to the process of paying out your current home loan by taking out a new loan, either with your existing lender or through a different lender.

Review your home loan to make sure you're getting the best deal today!

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Hear from our customers

Basil and Maria, Lugarno, NSW
Refinancers

I’ve had very good experiences with Mortgage Choice. I still look back to the loan I had before I met my Mortgage Choice broker and I think they must have made a motza out of me. That’s why I’ve referred other people locally to Mortgage Choice. And it’s true, Mortgage Choice’s home loan service didn’t cost me a cent.

D. Marks, Airport West, VIC
Refinancer

I’ve already recommended Mortgage Choice to family members. I know I can call my Mortgage Choice broker and he’ll look after my home loan needs. When you find someone you trust, you feel comfortable sticking with them, and that’s certainly been my experience with Mortgage choice.

Nick and Angela Vlahadamis,
Refinancers

We still can’t believe how easy it was. Not only did our broker arrange an appointment suited around us but within a short time we felt completely comfortable and at ease with our refinance options. He gave us options which empowered us with choices that saved real time, lots of money and much anguish.

Nigel,
Refinancer

I’d definitely recommend Mortgage Choice – in fact, I’ve already referred family members who were looking to upgrade their home, to our Mortgage Choice broker. Once our renovations are complete we may look at exploring investment property opportunities, and we’ll head back to Mortgage Choice for help with this also.

Peter, Sydney, NSW
Refinancer

My Mortgage Choice broker had discussed a number of different types of loans, and he explained how an offset loan could be useful in my circumstances. He was absolutely spot on because after only a few months I can really see the impact the offset account is having. After all those years feeling like I was getting nowhere, I am starting to see the loan balance fall and it feels really good.

B. Barrie, Lockrose, QLD
Refinancer

In mid-2017 we needed to upgrade our car, so I got back in touch with our Mortgage Choice broker. She gave us good advice on how to get our finances in order to be in the best possible financial position to apply for a loan. She also talked us through the various finance options and crunched the numbers to show how using home equity was a more affordable way for us to fund the car rather than using a car loan.

Refinancing cashback offer FAQs

Do you always get cash back when you refinance?

No, cashback offers are only available by select lenders. In order to get cash back when you refinance you will need to meet the eligibility requirements of that specific lender and apply for a refinance within the period the cashback offer is available.

How does cashback refinance/mortgage work?

A cashback refinance usually works by the lender offering a lump sum of cash as an incentive to refinance your existing home loan from your current lender. There are many banks out there offering cashback deals where the funds are paid once the refinance is completed and your home loan has been switched.

What does cashback on a mortgage mean?

Cashback on a mortgage refers to cashback offers advertised by lenders to entire customers to switch their mortgage over. The cashback provided does not usually require the funds to be used to pay towards the mortgage.

Are cashback mortgages worth it?

The answer to this depends on the product you’re in. It is of course important to not just assume that because you have a cashback deal you’ll be better off over the long term as factors such as the interest rates between lenders and fees associated with refinancing need to be considered. It is best to speak with a Mortgage Choice broker to know for sure if you’re getting a great deal.

Are both Investors and Owner-Occupiers Eligible?

The eligibility requirements can vary between lenders, however in most cases cashback offers are available to both investment and owner occupied home loans. It is best to speak with your local broker to ensure your home loan is eligible for cashback offers.

Does cashback apply to both Fixed and Variable Home Loans?

Similarly as above, many lenders will have a certain criteria of what type of home loans are included with a cashback offer. This can of course vary between lenders, however, many offers do include the option to refinance to a fixed or variable rate home loan.