If your home loan is with AIA GO Home Loans, or it started life as a Sovereign loan years ago, this one’s for you. ASB has launched a cash offer for AIA GO Home Loan customers who move their lending across. It’s a genuine opportunity, and the switch is simpler than you’d expect.
First, a bit of history
If you took your loan out with Sovereign, you’ll remember the name change a few years back. Sovereign became part of AIA, and those home loans now sit under the AIA GO Home Loans brand. Behind the scenes, these loans have always been closely connected to ASB. That’s why moving across is so straightforward. You’re not starting from scratch with a brand new bank.
What’s on offer
ASB is offering a cashback of up to 0.90% of your loan amount when you switch your AIA GO Home Loan across. On a $500,000 loan, that’s $4,500 in your pocket. The offer applies where your lending is at least $200,000 and your loan is 80% or less of your property’s value. Different rates apply for higher LVR lending and construction loans, and the cashback is capped at $30,000. A nice problem to have.
Even better, no solicitor fees apply when you switch from AIA GO Home Loans to ASB. That removes one of the usual costs of refinancing.
The switch is easier than a normal refinance
If you’re simply moving your existing loan balance across and don’t need any extra lending, ASB doesn’t require a full application. A few signed forms and you’re away. No mountain of paperwork, no lengthy assessment.
Want to borrow more at the same time, or set up a revolving credit facility like ASB’s Orbit? Totally doable. That route involves a full application, and I’ll walk you through it step by step.
A few things we’ll check first
Cashback offers can change, so the numbers above are current as I write this. If you received a cash contribution when you took out your original loan, there may be a clawback if you move within a certain timeframe, and early repayment charges can apply if you break a fixed rate. None of these are dealbreakers. They’re just things we’ll check before you make a move, so you know exactly where you stand.
Why you haven’t heard about this
Here’s the thing. This offer isn’t being advertised directly to AIA GO Home Loan customers. It’s only available through an adviser accredited with both AIA and ASB. I’m accredited with both, so I can run the numbers, confirm the offer stacks up for your situation and handle the whole switch for you.
Is switching right for you?
For most AIA GO Home Loan customers, this is well worth a look. Cash in hand, no solicitor fees and access to ASB’s full range of products and rates. Every situation is different though, and any change to your loan needs to genuinely work in your favour. That’s my job, making sure it does.
If you’ve got an AIA GO Home Loan, or an old Sovereign loan, and you’re wondering what a switch could look like for you, let’s have a chat. It costs nothing to find out.
Get in touch with your exisiting My Mortgage adviser if you're an exisiting client or book a call below to chat to an adviser about the options.
Book a call with Adam here to learn more: https://www.mymortgage.co.nz/call-with-adam/
