One major lender has extended a $1,000 switching bonus for new borrowers.
ANZ clients will receive the $1,000 switching rebate if they take out loans above $1 million before July 4.
There must, however, be a refinancing portion to the application – for example $100,000 of refinance plus $900,000 in new lending.
The rebate applies to existing ANZ mortgage customers who refinance an additional amount from other lenders as long as the new borrowing exceeds $1 million.
Clients must request the rebate to receive it. ANZ has advised brokers to include ‘2014 broker $1,000 discretion’ in the ‘special offer’ field on the application form.
Loans must be drawn down or the limit activated by October 3. Borrowers will then receive the rebate within 30 days.
The offer does not apply to applications that have already been submitted.