Some lenders offer ‘cash back offers’ to entice clients to refinance their lending to them.  The theory behind these offers is to help new clients to cover the cost of refinancing to them.  It may sound like there is a ‘catch’ but generally speaking there isn’t, you just need to be sure you understand all the requirements to be entitled to the cash back offer as it may not suit you or your lending requirements. For example, some of these requirements can include ‘loan size’ or ‘product type’.  We can provide advice regarding whether you’re entitled to a cash back offer as cash back offers can be very useful. 

We recently helped a client refinance and obtain a cash back offer. In this particular case, the cash back offer was $4,000. This is VERY generous but also think about the extra interest that you can actually save on your loan…However, it’s important to do comparisons as a lender with a cash back offer may not be the best or cheapest option for you in the long run. We can always help you with that! 

Contact Scott: scott@oceanlending.com.au