Cash backs creep up
Advisers report that ANZ and Westpac have lifted cash back offers back to .6% after cutting them during the lockdown.
In mid-April, cash-back offers had dropped as low as .4% at banks including Westpac and BNZ, as banks tightened up in the face of the pandemic.
One adviser told TMM Online that conditions had begun to improve for borrowers in recent weeks: "During lock-down some banks dropped cash backs completely, with some at 0.3%. They're now back up to 0.6%," the adviser said.
Craig Pope, of Pope & Co Mortgages said the market was still "inconsistent at the moment" and has seen cash backs as low as .4% and .5%.
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