Saturday, 12 August 2023

Australian lenders withdraw cashback offers as competition slackens

Several providers are still offering cashbacks as an incentive for people seeking to refinance – but they’re unlikely to last long

When Australia’s biggest lender, Commonwealth Bank, withdrew its cash offer for new mortgage customers earlier this year, it signalled an end to a period of vigorous competition.

Several lenders followed its lead, ending similar deals that are designed to entice borrowers to switch lenders with a cash reward.

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from World news | The Guardian https://ift.tt/30v1U6C

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