12 Days of Holiday Offers: $3,000 cashback when you refinance with IMB
Refinancing with the right provider can help you score some extra cash in your pocket, right before the holidays.
Sponsored by IMB. Considering refinancing before 2024? You can get $3,000 cashback when you switch your home loan to IMB*. T&Cs apply.
The 12 days of Holiday Offers are here at Finder! Today, for day 1, we're taking a look at home loans. We've got a great offer from IMB – as well as some tips on the reasons you might consider refinancing.
4 reasons you might consider refinancing your home loan
Deciding whether refinancing your home loan is the right option for you? Take a walk through some of the most common reasons people choose to switch lenders.
1. Taking advantage of lender offers
Periodically, lenders will offer incentives for refinancing or taking out a new home loan, over and above their usual loan inclusions.
If you're already thinking about refinancing, this type of offer can sometimes be the deciding factor to proceed. Looking for incentives means that you can get the loan product you're looking for, while also scoring a bonus in the process.
One example is IMB, who are currently offering a $3,000 cashback for borrowers with loans over $400k and LVR up to 80% who choose to switch their current home loan over.
2. Adding extra loan features
Not all home loans are created equal. So every year or so, it's worth doing a sense check to see if your current loan still offers competitive features.
Borrowers are often keen to add features like extra repayments, offset accounts, redraw flexible payment schedules and more.
Having these features in place can potentially enable you to repay the loan more quickly.
What would you do with $3,000? Switch your home loan to IMB and you could get $3,000 cashback.* For loans ≥$400K, LVR up to 80%. Learn more
3. Getting a lower interest rate
One of the most common reasons for refinancing is to take advantage of a lower interest rate – and in turn, lower repayments.
Some people opt for this in order to pay the overall loan more quickly. But it can also be a useful means of reducing financial pressure.
4. Debt consolidation
If you have a range of different debts, refinancing your home loan can be an effective way to consolidate your various debts into one place.
This means that you only need to make repayments via one outlet, rather than having to juggle multiple repayments – and in turn, multiple interest rates.
Although debt consolidation isn't right for every situation, it can be a useful tool if you are already considering refinancing your home loan.
Learn more about refinancing with IMB
Don't miss out on our 12 Days of Holiday Offers! Explore all of them today Image: @Obradovic via Canva.com