Change bank to make bank!

You may have heard that banks have been offering unprecedented cashback offers to attract and reward new customers. This has been particularly beneficial for clients who are refinancing - often you're left with a choice of sticking with your existing bank and receiving no gratitude for your loyalty, or refinancing and potentially making thousands of dollars in the process.

Banks have been inundated with applications, with virtually all of them offering these big cashback deals. However, these offers are now coming to a close. Kiwibank has already stopped offering 1.5%, and others are ending their offers this week.

There is still time to get in and refinance your lending to take advantage of this if you'd like to. ASB, ANZ, BNZ and Westpac are still open for applications - however, these need to be in within the next few days.

Wondering how much cashback you might be able to get?

Just reply with your current total rough loan balance, and I'll calculate this for you. Here are some examples:

• $300,000 loan = $4,500 cashback

• $500,000 loan = $7,500 cashback

• $800,000 loan = $12,000 cashback

• $1,000,000 loan = $15,000 cashback

• $1,300,000 loan = $19,500 cashback

It's important to factor in that you may need a lawyer to process the refinance (around $1,000), and there may also be break fees on your existing loans. However, I can check all the details for you - it's only worth doing if it's worth doing.

If you've worked with me before, you'll know I generally say refinancing isn't worth the hassle. However, at 1.5%, I have to be honest - it is. It could comfortably pay for Christmas!

My personal opinion is that I'd rather see banks offering more competitive interest rates and rewarding customers for loyalty, rather than rewarding them for switching. However, it is what it is, and it's an opportunity worth taking advantage of.

It's also a great time to restructure your lending

If you follow independent economist Tony Alexander, you'll know he's predicting we're likely at the bottom of the interest rate cycle - or that it may have already passed - and that fixing long-term now would be wise. There are strong indications that inflation could come back to bite in 2026, potentially leading to interest rates rising sooner than most are expecting.

So getting in now, restructuring your lending, taking advantage of longer-term fixed rates, and benefiting from a significant cash contribution - probably not a silly idea.


So - if you'd like to know how much you could be eligible for, just hit reply and let me know your rough loan balance, and I'll run through the numbers for you.

This is not personalised financial advice. Do not act on anything mentioned in this email without seeking personalised advice that takes your own financial position and goals into account.