1. This First Home Buyer Offer (“Offer”) is provided by Greater Bank, part of Newcastle Greater Mutual Group Ltd ACN 087 651 992 of 307 King Street Newcastle NSW 2300 (“Greater Bank”).
2. This Offer commences 15 August 2024 and will remain open until withdrawn (“Offer Period”).
3. Any payment made in accordance with this Offer will not be made in cash (i.e. notes and/or coins) or by cheque. If you are eligible to receive a payment, it will be credited into a Greater Bank Everyday account within 30 days of the loan settlement date. The borrower(s) must hold an open Greater Bank Everyday account in the same name(s) as the eligible loan as at the date the cashback payment is made to be eligible to receive the Cashback. Where the borrower(s) has more than one Greater Bank Everyday account, Greater Bank will determine which account
will receive the cashback payment. If the loan is closed or paid out before the cashback payment is due to be made, the loan will no longer be eligible for the Offer.
4. Any person who participates in the Offer acknowledges it is made subject to these terms and conditions and will be deemed to have accepted these terms and conditions.
Eligibility for the Offer
5. A loan application will be eligible for the Offer if:
a. The borrower(s) are Australian residents, 18 years and over;
b. All borrowers are a first home buyer, which means they have never owned or co-owned a residential property; and is the only loan application made by you and any joint applicant during the Offer Period;
c. The loan application is received by Greater Bank during the Offer Period and the loan (or each loan, if the loan application results in more than one loan being approved) is approved and fully drawn down within 120 days;
d. Only one cashback offer is available within a 12-month period. The borrower(s) must not have previously successfully redeemed a NGM Group home loan cashback offer, jointly or individually, within the12-month period prior to this Offer Period;
e. The loan(s) will be used wholly or predominantly to purchase a residentially secured owner-occupied loan that:
i. Is an owner-occupied home with a Loan to Value Ratio (LVR) less than or equal to 95%;
ii. Has a loan amount of $250,000 or more;
f. The loan is a Greater Bank branded loan. For clarity, this does not include Newcastle Permanent (also part of Newcastle Greater Mutual Group Ltd) branded loans.
g. The amount of credit (as defined in the Home Loan Agreement) advanced by Greater Bank is $250,000 or more or, if more than one Home Loan Agreement is entered into as a result of the loan application, the amount of credit under each Home Loan Agreement is in aggregate $250,000 or more;
h. The loan to which the application relates (or each loan to which the application relates) is a new loan from Greater Bank that is either Greater Bank’s Ultimate or Great Rate Owner Occupied Home Loan. The loan(s) may either be fixed or variable rate.
The Offer
6. Under the Offer, the following payment will be paid to the Eligible Borrower(s), subject to these terms and conditions:
a. A cashback payment of $2,500 (“Payment”) for applications ≥ $250,000 with a Loan to Value Ratio (LVR) of equal to or less than 95%.
7. If you are a joint applicant, you and your joint applicant will only receive one Cashback Payment in respect of your eligible loan.
Changes to this Offer
8. Greater Bank reserves the right to, at any time, withdraw or extend the Offer or otherwise vary these terms and conditions.
Other information about this Offer
9. Loans that qualify for a Cashback Payment are not eligible for any other Greater Bank promotional payments.
10. A borrower’s loan application received during the Offer Period will be subject to Greater Bank’s normal credit assessment and approval processes.
11. Fees and charges apply to Greater Bank loans to which this Offer applies. Refer to our Home, Personal and Business Loan Fees and Charges Flyer or your Home Loan Agreement for details.
12. These terms and conditions do not form part of your Home Loan Agreement. 13. The borrower(s) cannot transfer or assign their right to the Offer to any other person.
14. Greater Bank accepts no responsibility for any tax implications that may arise from the Cashback Payment. The borrower should seek their own independent advice in this regard.
15. Greater Bank reserves the right to refuse payment of an account credit to any individual involved in any way in interfering or undermining the intended operation of the Offer.
16. Eligible Greater Bank Everyday accounts include Greater Bank’s Ultimate Access Account, Access Account and Retirement Plus Account. Term deposits, savings accounts and loan products are not eligible Everyday accounts.