1.5% Cash Contribution offers! Is Now the Right Time to Refinance? Let’s Break It Down

With interest rates stabilising and lenders scrambling to attract new customers, many banks have recently rolled out a massive 1.5% cash contribution toward your loan balance — often capped at up to $30,000. That’s a serious sweetener, and it’s creating a rare window of opportunity for homeowners to reassess their current mortgage structure.

Refinancing can offer meaningful benefits: potential interest-rate savings, sharper fixed-rate options, improved loan features, or simply the chance to reset your overall financial plan. And yes, that 1.5% cash boost can help offset legal and valuation costs, or even give your savings a lift. But—as with anything in finance—there’s always another side to the coin. Break fees, hidden bank admin charges, or losing certain benefits with your current lender can erode the value of refinancing if it’s not done strategically. On top of that, a lower headline rate doesn’t always mean a better long-term outcome.

That’s where good advice matters. What looks great on paper might not be the smartest move for your long-term financial wellbeing. Every client’s situation is different: your goals, loan structure, remaining fixed-rate terms, and future plans all play a big part in determining whether a refinance is genuinely worthwhile — or just clever marketing wrapped in shiny packaging.

If you’ve been wondering whether you should jump on the 1.5% contribution offer, now is the time to talk. These incentives won’t stick around forever, and once they disappear, they may not return. Get in touch with us as soon as possible, and we’ll run the numbers, weigh the pros and cons, and help you decide whether refinancing is the right move for you.