NAB has launched a program entitling homeowners to a $1,000 cash back when refinancing their home loan with the major lender – and a NAB spokesperson confirms the offer is available to broker clients.
The ‘More Give Mortgages’ offer is timed to coincide with the busy spring period for real estate and customers who refinance their home loan with NAB will also save up to 15% on NAB’s Mortgage Protect insurance.
Group executive, Personal Banking, Gavin Slater, says the offer is ‘great value’ for customers who want a better deal than what they’re getting with their existing mortgage provider.
He notes that, for the past four years, no other major bank has beaten NAB’s standard variable rate (NAB’s standard variable rate currently stands at 5.88%p.a).
“As well as the $1000 cash back and our low standard variable rate, we’re waiving the $600 application fee and NAB customers don’t get charged monthly account fees on our most popular transaction account,” says Slater.
The $1000 cash back offer is for customers who refinance a mortgage with NAB between August 12 and September 30. The money can go into any NAB transaction account the customer nominates.
NAB's move follows CBA's announcement last week that it would be offering a price 'guarantee' on its one-to-five-year fixed rate home loans from major competitors for the next seven weeks.