As banks and lenders scramble to fill their books for 2023 they've been making some pretty big cashback offers. One lender is even offering $10,000 cashback* - but with very specific conditions. 

We think we’ve found the best one - keep reading to find out what it is (or click below to chat straight a broker):

Select your state and compare now!

Discover the best options for you

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Remember: ‘Best Home Loan Deal’ means best for you:

A quick cashback win is a tempting incentive in today’s tight-budget climate but a good home loan is one that works for you, now and into the foreseeable future.

Is This The Best Deal Right Now?

The best deal we’ve found right now at Compare Club is with a lender offering up to $4,000 cashback for eligible new customers (including refinancers) who apply for owner-occupier or investor loans between $250,000 and $1,000,000, and as much as $6,000 cashback for loans $1,000,000 and over^.

While we’re always on the hunt for better home loan value, we’re well aware that not all offers are suitable for everyone. The only way to be sure is to speak to an impartial expert, like your Compare Club broker.

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What's new in home loans - February 2026

  • RBA rate hike: The RBA lifted the cash rate to 3.85% this month. While we had three cuts in 2025, offering some relief after thirteen rate hikes since May 2022, this new direction is worrying Australian mortgage holders.

  • Cheaper to borrow: A higher cash rate can lower your borrowing power - but working with your broker to find the right lender can offset the damage. Not all lenders are created equal. Ask your mortgage broker which ones really want your business.

  • Fixed rate ending? Now’s the time to speak with a broker at Compare Club about your next steps, so you’re not hit with a staggeringly high revert rate.

Disclaimers: The information contained on this web page is of general nature only and has been prepared without taking into consideration your objectives, needs and financial situation. You should check with a financial professional before making any decisions.  ^Ubank is offering up to $6,000 cashback for eligible new customers (including refinancers) who apply for an owner-occupier or investor loans between $250,000 and $1,000,000, or $6,000 cashback for loans $1,000,000 and over. Applications must be received between 10 November 2022 and 28 February 2023 and settled by 30 April 2023. Al loans must have an LVR of 80% or less. Eligibility criteria, exclusions and other T&Cs apply. *That $10,000 cashback offer is valid to new and refinancing customers for loans of over $2 million dollars only. (Terms and Conditions apply.) https://www.reduceloans.com.au/cash-back/