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One lender is offering $1,000 to brokers’ clients if they sell their property and then return for a new home loan.
St George has announced that the rebate will be available to brokers’ customers who discharge their home loan for property sale purposes in June and July and take out a new loan within six months.
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The cashback offer is only available for applications received under the Advantage Package for new home loan borrowings of $150,000 or more. The new loan must settle by 31 January.
Customers must have a St George transaction account and must direct debit their repayments in order to qualify for the offer.
This offer is targeted at customers that have not yet applied for their next loan, so customers that have already settled a new loan before discharging their old one are not entitled to the offer.
St George told The Adviser that the offer was designed to boost client loyalty.
“There is a lot of competition from other lenders to attract new customers and we're committed to removing any reason our customers may have for moving their business," St George said.
“We want to encourage customers to continue to bank with us. We’ve always been focused on making sure we have some of the best home loan offers available and are giving the best service to our customers."
This special also applies to Bank of Melbourne and BankSA customers.
