Lenders covering Refinance Fees?
- Thread starter albanga
- Start date
You can borrow to pay these providing you meet LVR requiremnents and servicing.
Yes there are lenders out there that will offer a rebate to cover some of the costs. CBA previously offered this to the open market '$700 refinance rebate offer', it is now case by case (under the counter offer), I haven't had any issues so far with getting this approved by pricing team for loans of >$150k.
I believe you will find other lenders offering ~$1000 and some more.
I believe you will find other lenders offering ~$1000 and some more.
Thanks Terry I was aware of this but I am talking purely from a winning business perspective.
E.G. Refinance to us and we will pay the $500 discharge from the other lender.
Thanks Brady, so it is just a matter of asking then.
Ah rebating fees! St G and Westpac had specials recently, not sure if they still are on offer. Westpac was $1000 from memory.
Pending lender & who you're dealing with. Some will advertise, some you would need to ask. I offer it to my clients without them asking, similar to offering better rate from pricing team. I would assume this is general practice by most of the brokers on this forum to make sure they offer the best rate and discounts available. In some cases they might not be aware of what's avaialble.
I will sometimes offer to cover $1000 independent of the new lender but only if it is fairly hefty loan amount in total and I like the borrower 
Refunding fees are all great, but people shouldn't make a decision soley on this basis.
Keep in mind the reason you're looking to refinance in the first place. If you're considering a longer term investment strategy, make sure you know where this refinance and the selected lender fits into that strategy. A thousand bucks is negligible in the grand scheme of things.
If you're refinancing primarily for a better deal, consider what you're actually getting and what you're missing out on. Right now the big banks aren't the ones with competitive rates. Cash on refinance may pale in comparison to what else is out there simply in rate savings.
Keep in mind the reason you're looking to refinance in the first place. If you're considering a longer term investment strategy, make sure you know where this refinance and the selected lender fits into that strategy. A thousand bucks is negligible in the grand scheme of things.
If you're refinancing primarily for a better deal, consider what you're actually getting and what you're missing out on. Right now the big banks aren't the ones with competitive rates. Cash on refinance may pale in comparison to what else is out there simply in rate savings.
