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Get your refinance customers $1,500 Cashback with Bankwest!
July 27th, 2018
Our Panel Lender Bankwest, has a special offer for your refinance customers until Friday August 31! When your customer refinances both an owner-occupier and an investor loan with Bankwest from an OFI lender, eligible customers will receive $1,500 cashback into their account if they choose a Bankwest Complete Home Loan Package. (Settlement must occur on or before Friday, 30 November 2018 to meet the offer criteria).
The application criteria:
Refinance: Only for applications related to OFI Refinances to Bankwest.
Purpose: Only offered to customers that are applying for both OOC and INV home loans.
Application detail: Does not have to be on the same application as long as there have been two applications in the same customer name for Investor and Owner Occupier. (Applicant names need to be the same on both applications).
Package only: Complete Variable, Complete Fixed, and Complete Equity products.
Loan size: No min lending (package default >$200k).
Repayment: OOC lending to be P&I only, however INV can be either P&I or I/O.
LVR: <80% on all loans included in the application.
No. Securities: Minimum two securities with one OOC and one INV.
Exclusions: This offer is only available to retail customers.
Want to know more? Speak with your Bankwest BDM today, or contact one of their support teams for more information at bankwest.com.au/brokers.
Offer Terms and Conditions
- The Promoter is Bankwest, a division of Commonwealth Bank of Australia ABN 48 123 123 124 AFSL/Australian credit licence 234945 300 Murray Street, Perth WA 6000 (“Bankwest” or “Promoter”).
- This Exclusive $1,500 Cashback Promotion (“Promotion”) commences at 9:00am WST on 6th July 2018 and closes at 5:00pm WST on 31st August 2018 (”Promotional Period”).
- Applications for Bankwest Home Loans are subject to credit approval. Full terms and conditions will be included in customers’ Bankwest loan offer. Fees and charges may be payable.
- This offer is available to individuals who take out a new Bankwest Complete Home Loan Package for (“Eligible Customers”) under the following Eligibility Requirements:
- Applications to be submitted within the promotional period 6th July 2018 – 31st August 2018.
- Application must have an Owner Occupied Home Loan and Investment Home Loan
- Application must have an Owner Occupied Property and an Investment Property
- Applicant names need to be the same on both Owner Occupied Application and also Investor Home Loan application.
- This offer is only eligible for refinances from Other Financial Institutions (excluding CBA)
- Applications to be submitted via Home Finance Manager, Customer Specialist, Private Client Manager or Broker.
- This offer is available on Complete Variable, Complete Fixed, and Complete Equity products only.
- Minimum aggregate amount >$200k. Both Home Loans must not exceed a loan to value ratio (LVR) of 80%.
- The Owner Occupier (OOC) Home Loan must be Principal and Interest repayments, whilst the Investor (INV) Home Loan can be either Principal and Interest or Interest Only repayments.
- Applications must settle by the 30th November 2018.
- Applicant Names need to be the same on OOC Home Loan and Investor Home Loan applications.
- Normal lending policies apply.
- This offer is not available in conjunction with any other promotions.
- This offer is only available to retail customers
- Only one cashback per eligible transaction. Where a Home Loan has more than one applicant and one applicant receives the cashback, all applicants are deemed to have received the cashback. Maximum cashback amount of $1,500.
- Bankwest reserves the right to verify the validity of Eligible Customers (including a Customer’s identity and application details) and reserves the right to disqualify any Eligible Customer if the Customer is engaged in any unlawful or other improper misconduct calculated to jeopardise the fair and proper conduct of the Promotion.
- Provided these Terms & Conditions including Eligibility Requirements are met, Eligible Customers will receive $1,500 cashback transferred electronically into their owner occupier Home Loan account after both owner occupier and investor loans are disbursed:
- 6th Jul 18 – 31st Jul 18 – Cash back Deposited by 31st Aug 18
- 1st Aug 18 – 31st Aug 18 – Cash back Deposited by 30th Sep 18
- 1st Sep 18 – 30th Sep 18 – Cash back Deposited by 31st Oct 18
- 1st Oct 18 – 31st Oct 18 – Cash back Deposited by 30th Nov 18
- 1st Nov 18 – 30th Nov 18 – Cash back Deposited by 31st Dec 18
- Where an Eligible Customer has more than one owner occupier home loan, Bankwest will determine which account will receive the cashback. The customer cannot nominate an account. The customer will be notified via email that the cashback will be deposited into their account the month it is due to be deposited.
- The $1,500 cashback cannot be used towards the serviceability of the Home Loan.
- The $1,500 cashback is not transferable.
- Eligible Customers accept the cashback ‘as is’ and acknowledge that Bankwest accepts no responsibility for any tax implications that may arise from the cashback. Eligible Customers may need to seek advice from the Australian Tax Office or their own taxation adviser or independent financial adviser.
- Bankwest reserves the right to review and amend these Terms and Conditions at any time.
- Your client’s full financial needs and requirements need to be assessed prior to any offer or acceptance of a loan product.