Up to $5,000 cashback on eligible home loans
For loans refinanced to Heritage with ≤ 80% LVR.
Home Loan Value is $250,000 or more.
- Where the loan amount is $250,000 to $499,999.99, the cashback is $3,000;
- Where the loan amount is $500,000 to $699,999.99, the cashback is $4,000;
- Where the loan amount is $700,000 or more, the cashback is $5,000;
For owner-occupied and investment home loans.
Paid into your client’s Heritage transaction account.
Apply by 30 June 2023 and settle by 30 September 2023.
Eligibility
- What is the Cashback Offer?
- a) Subject to these Terms and Conditions, Heritage Bank will pay the Cashback amount for Eligible Heritage Bank Home Loans taken out during the promotion period (“Cashback Offer”).
- b) Participation in the Cashback Offer is deemed acceptance of these Terms and Conditions.
- How do you become eligible for the Cashback Offer?
- a) To be eligible for the Cashback Offer you must:
- i. Between 01 May 2023 and 30 June 2023, submit a new application for an Eligible Heritage Bank Home Loan, and settle the Eligible Heritage Bank Home Loan by 30 September 2023;
- ii. Continue to hold the Eligible Heritage Bank Home Loan until the cashback payment is made. Any loans paid out or closed before the cashback is made will no longer be eligible for the cashback.
- b) Only Eligible Heritage Bank Home Loans taken out through a Heritage Bank branded branch, the Heritage Bank website, Heritage Bank Contact Centre or brokers are eligible. People’s Choice home loans taken out through People’s Choice branches, the People’s Choice website, People’s Choice contact centre or brokers are ineligible.
- c) Only one Cashback will be paid per member under this offer, regardless of whether the loan is taken out by an individual borrower, or jointly. Where a home loan has more than one applicant and one applicant receives the cashback, all applicants are deemed to have received the cashback. You cannot transfer or assign your right to the Cashback Offer to any other person.
- d) The Cashback Offer is restricted to one cashback per membership over a 12-month period, regardless of the number of borrowers or applications.
- e) If you apply for ‘in-principle’ approval prior to submitting an application for a unconditional loan approval, your application will qualify as a ‘new application’ on the date it is unconditionally approved.
- a) To be eligible for the Cashback Offer you must:
- What is an Eligible Heritage Home Loan?
- “Eligible Heritage Bank Home Loan” is a home loan which meets the following criteria:
- a) The home loan value is $250,000 or more.
- b) Is for the predominant purpose of refinancing a home loan from another financial institution.
- c) Has a loan-to-security valuation ratio (LVR) less than or equal to 80%.
- d) The product taken out is one of the following Heritage Bank home loans (Eligible Products):
- i. Discount Variable;
- ii. Standard Variable (including Home Advantage Package eligible loans);
- iii. Fixed Rate (including Home Advantage Package eligible loans);
- e) The product is a Heritage Bank branded home loan which is taken out through a Heritage
Bank branded branch, the Heritage Bank website, the Heritage Bank Contact Centre or a
broker. - f) If the same member takes out a split loan comprising Eligible Products, and/or multiple home
loans at the same time comprising Eligible Products, those loans are together considered to
be one ‘Eligible Heritage Bank Home Loan’. - g) The loan can be held as an Owner Occupier or an Investor.
- “Eligible Heritage Bank Home Loan” is a home loan which meets the following criteria:
- How much is the Cashback?
- The Cashback value is variable based on the value of the Eligible Heritage Bank Home Loan as per the table below. The Cashback is limited to one Cashback per member (with joint loans limited to one Cashback):
- a. Where the loan amount is $250,000 to $499,999.99, the cashback is $3,000;
- b. Where the loan amount is $500,000 to $699,999.99, the cashback is $4,000;
- c. Where the loan amount is $700,000 or more, the cashback is $5,000;
- The Cashback value is variable based on the value of the Eligible Heritage Bank Home Loan as per the table below. The Cashback is limited to one Cashback per member (with joint loans limited to one Cashback):
- Can I qualify for more than one Cashback?
- The Cashback Offer is limited to one (1) payment per membership for Eligible Heritage Bank Home Loans over a twelve-month period.
- How and when will the Cashback be paid?
- a) Heritage Bank will pay the Cashback into a Heritage Bank transaction account held in the same membership as your Eligible Heritage Bank Home Loan (if you have one);
- b) In the event that no Heritage Bank transaction account is held, the Cashback will be paid to your Eligible Heritage Bank Home Loan.
- c) The Cashback payment will be made within 60 days of Loan Settlement.
- Do I need to repay my Cashback if my Eligible Heritage Bank Home Loan is repaid early?
- a) If the Cashback is paid and the Eligible Heritage Bank Home Loan is repaid within 180 days of loan settlement, the Cashback recipient must repay 100% of the Cashback received back to Heritage Bank.
- b) The Cashback must be repaid to Heritage Bank within 30 days of the Eligible Heritage Bank Home Loan being repaid.
- What are the exclusions?
- a) Loans for any purpose other than refinance of an existing home loan;
- b) Internal refinances, switches and re-fixes of existing Heritage Bank home loans or People’s Choice home loans are not eligible for the Cashback Offer;
- c) Home loans that are paid out or closed before the cashback payment is made are not eligible for the Cashback Offer;
- d) Offer excludes Bridging Loans, Construction Loans and Business Loans.
- Heritage Bank accepts no responsibility for any tax or financial implications that may arise from the Cashback Offer. The Cashback payment may constitute assessable income and, as such, customers should seek independent financial advice to determine their taxation obligations.
- Nothing in these Terms and Conditions limits, excludes or modifies or purports to limit, exclude or modify the statutory consumer guarantees as provided under the Competition and Consumer Act, as well as any other implied warranties under the ASIC Act or similar consumer protection laws in the States and Territories of Australia (“Non-Excludable Guarantees”). Except for any liability that cannot by law be excluded, including the Non-Excludable Guarantees, Heritage Bank (including its respective officers, employees and agents) excludes all liability (including negligence), for any personal injury; or any loss or damage (including loss of opportunity); whether direct, indirect, special or consequential, arising in any way out of the Cashback Offer.
- Information is correct as at 01 May 2023. This is a limited time offer and subject to change without notice. Heritage Bank reserves the right to, at any time, withdraw or extend the Cashback Offer or otherwise vary or amend these Terms and Conditions without notice.
- Home loans are issued by Heritage and People’s Choice Limited ABN 11 087 651 125, AFSL and Australian Credit Licence 244310, trading as Heritage Bank. Lending criteria, limits, conditions, fees and charges apply. Target Market Determinations available at www.heritage.com.au/TMD.
