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Bannerman

2 posts

Wannabe Geek

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#280785 10-Jan-2021 21:59
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Hi,

 

We have just purchased an investment property and are looking to get a mortgage (we have been pre-approved already). We are keen to shop around as we aren't fussed about staying with our current bank (Westpac). So open to all lenders at this stage.

 

When we last took out a mortgage many years ago, cash contributions of around $2k were the norm. Is this still the case?

 

Has anyone taken out a new mortgage/refinanced recently (in the last couple of months)? Did you get any cash contribution?

 

Keen to see what people have received or not received as we start navigating this and working out what we do and who we go with.

 

Thanks

 

 

 

 


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billgates
4705 posts

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  #2633293 10-Jan-2021 22:22
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You can either get a cash contribution with a advertised mortgage rate neck early cancellation penalties conditions or negotiate a better mortgage rate without the cash contributions. You cannot have both. Cash contributions are a waste of time anyway specially with the early cancellation penalties that generally lasts 3 years plus minimum.





Do whatever you want to do man.

  

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