First Home Buyer special: $4500 cashback at settlement T&Cs

Naritas Finance Cashback Terms & Conditions:

  • (1.) This offer is provided by Naritas Finance Pty Ltd ABN 74 096 341 061 of Level 1, 357 Military Road, Mosman, NSW, 2088 (“Naritas”) and Westpac Banking Corporation Ltd ABN 33 007 457 141 of Level 30, 275 Kent Street, Sydney NSW, 2000 (“Westpac”).
  • (2.) This offer commences 2 November and closes 31 December 2015 (“Offer Period”).
  • (3.) This offer is open to Australian residents only.
  • (4.) A payment under the Cashback Offer (“Cashback Payment”) will be paid for residentially secured owner occupied home loans settled during the Offer Period subject to conditions 5 to 15 below.
  • (5.) A borrower must purchase using Naritas to arrange a Westpac Flexi First Option Home Loan and must not be an existing Westpac Home Loan customer. A borrower’s loan application in conjunction with this Cashback Offer will be subject to Westpac’s usual credit assessment and approval processes. The borrower must be purchasing their first home, be eligible for First Home benefits (FHOG) and must submit their FHOG request through Westpac.
  • (6.) The Cashback Payment is $4,500 ($3,500 from Westpac, $1000 from Naritas) where the total loan financed, either jointly or individually with Westpac is $350,000 or more.
  • (7.) The initial loan application must be received during the Offer Period.
  • (8.) The approved loan must be funded by 29 February 2016.
  • (9.) A borrower is eligible for a Cashback Payment only once during the Offer Period. Once a loan application that is eligible for a Cashback Payment is received, no further loans which include that borrower, jointly or individually will be eligible for a Cashback Payment.
  • (10.) Fees and charges apply to loans taken out under this Cashback Offer. Refer to the Westpac Loans Fees and Charges brochure or the Mortgage Loan Schedule for details.
  • (11.) The Cashback Payment will be deposited to the loan account for the financed loan after the settlement date. The Cashback Payment will not be made to the borrower in “cash” (i.e. notes and/or coin) or cheque.
  • (12.) A borrower cannot transfer or assign their right to the Cashback Payment to any other person.
  • (13.) Naritas accepts no responsibility for any tax implications that may arise from the Cashback Offer. The borrower should seek their own independent advice in this regard.
  • (14.) This offer in not available in conjunction with any other promotional offer Naritas has available including our ‘refer-a-contact’ promotion.
  • (15.) Participation in the Cashback Offer is deemed acceptance of these terms.

Westpac Important Information:

Variable rate subject to change (and margins may apply). Credit criteria, fees and charges, terms & conditions apply.

1. Comparison Rate

This comparison rate is based on a Flexi First Option Home Loan of $150,000 over the term of 25 years. WARNING: The comparison rate applies only to the examples given. Different amounts and terms will result in different Comparison Rates. Costs such as redraw or early repayment fees, and cost savings such as fee waivers, aren’t included in the calculation of the comparison rate but may influence the cost of the loan.

2. Ongoing discount offer

For new loans applied for from 1 September 2015. Offer is only available for a limited time and may be withdrawn at any time. This special offer is only available on new Flexi First Option Home Loan and Flexi First Option Investment Loans. They are independent of each other and can’t be taken in conjunction with, or in addition to other special offers, negotiated rates or discounts. Not available to company and trust account holders. Discounts do not apply to internal refinances and are not transferable between loans.

3. When is the rebate payment made to customers?
There are 3 common scenarios where the FHOG is applicable, and the rebate payment timing will vary by scenario. The rebate will be paid up to 2 months after settlement, and cannot be used as funds to complete.
Scenario 1 – Purchasing a brand new home. Payment will be made within 2 months of settlement as long as the loan is unconditionally approved by 31 December 2015 and settled by 29 February 2016
Scenario 2 – Constructing a new home or a new house and land package. If the customer is financing the purchase of land and construction with a single loan, payment will be made within 2 months of the settlement date (drawdown) for the land purchase. The same unconditional approval and settlement eligibility dates above apply.
Note: Customers must have FHOG assessed and approved prior to settlement of land.
If only the construction is being financed, the loan must be settled prior to 29 February 2016, Payment will be made within 2 months of the first eligible payment to the builder being made. If the land purchase and construction are being financed in two separate loans, FHOG can only be issued on the construction loan and the construction loan cannot settle until the land loan has settled. Both loans must settle prior to 29 February 2016. Payment will be made within 2 months of the first eligible payment to the builder being made
Scenario 3 – Owner Builders. Owner builders are not eligible for this rebate as Westpac cannot process FHOG on behalf of these customers.

Where can I find more information on the grants in my State or Territory?
For further information on state-level FHOG eligibility and process requirements please visit;