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12 Days of Holiday Offers: $3,000 cashback when you refinance with IMB

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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.

Don't miss out on our 12 Days of Holiday Offers! Explore all of them today

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.

👋 Hey there! IMB has sponsored this article, so we'll be using their products as an example throughout. However, you should always do your own research and choose a mortgage that's right for your particular needs. You should also always read the product disclosure statement (PDS) and target market determination (TMD) before signing up for any home loan product.

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.

Up Logo🎁Holiday offer! Get $3,000 cashback when you refinance with IMB🎁

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

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Name Interest Rate p.a. Comparison Rate p.a. Fees Monthly Payment
Principal & Interest20% min. depositOwner-occupier
Interest Rate
6.14%
Comparison Rate
6.17%
Fees
Application: $449
Ongoing: $0 p.a.
Monthly Payment
Go to siteMore Info
Principal & Interest 2Y Fixed20% min. depositOwner-occupier
Interest Rate
5.99%
Comparison Rate
6.34%
Fees
Application: $449
Ongoing: $0 p.a.
Monthly Payment
Go to siteMore Info
Principal & Interest20% min. depositOwner-occupierOffset account
Interest Rate
6.24%
Comparison Rate
6.35%
Fees
Application: $449
Ongoing: $0 p.a.
Monthly Payment
More Info
Principal & Interest 2Y Fixed5% min. depositOwner-occupier
Interest Rate
6.14%
Comparison Rate
6.37%
Fees
Application: $449
Ongoing: $6 per month
Monthly Payment
More Info
Principal & Interest 3Y Fixed5% min. depositOwner-occupier
Interest Rate
6.24%
Comparison Rate
6.39%
Fees
Application: $449
Ongoing: $6 per month
Monthly Payment
More Info
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Don't miss out on our 12 Days of Holiday Offers! Explore all of them today Image: @Obradovic via Canva.com
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