CB offers home loan eligible customers free internet for three years
It comes as the latest CBA survey showed the vast majority of Australian homeowners were bracing for a rate hike ahead of the Reserve Bank’s decision to raise the cash rate in May. The survey also revealed what Australians with home loans are doing to prepare for rising interest rates, with a third (33 per cent) saying they are looking for cheaper utility providers to manage costs.
Dr. Michael Bauman, executive general manager of home buying, said: “We know that the rising cost of living is being felt by all Australians, particularly those looking to buy a property in the current environment. We want to support pre-approved home loan customers where we can, and that includes longer-term savings on major and ongoing bills and liabilities such as internet.”
Andrew Branson, co-founder of More, said: “Three years of free internet and an extra $2,700 in your back pocket is an incredible proposition for homeowners and property investors as you don’t need to connect to the nbn. the address where the loan is repaid;
“This type of customer benefit has never been seen before and hats off to CBA for trying something new that will make a meaningful difference to their customers who are facing increasing cost of living pressures. This is not a special offer that expires after six months, this is an ongoing benefit for the full three years,” he said.
Another recent CBA survey found that there is inertia around switching ISPs, with many Australians admitting they do little or no research when choosing an ISP. This can mean they miss out on deals and discounts on offer, as well as the chance to save money on everyday bills.
The survey also asked Australians about getting shopping and shopping offers from their bank, and more than half (56 per cent) said they would like their bank to offer more ways to save. In fact, 44 per cent of Australians said they expect their bank to provide offers to help them save money. It’s something that’s also expected of their telecom and internet providers (43 percent respectively) and their energy suppliers (39 percent).
“Research tells us that Australians want value from their lender and in a way that is tailored to their needs. We also hear from our customers that they want to save some money, take advantage of a great offer and make their dollar stretch further, especially for daily and ongoing commitments,” said Dr. Bauman.
For more information on a local telecom provider, visit them website. For more information on the nbn offers available to CBA customers, including the latest offer to conditional pre-approved home loan customers, visit here.
We encourage customers to speak with their CB lender or broker about how we can get them into a home sooner.
For more information and support, the bank has resources to help customers manage their home loan in a rising interest rate environment.
Editor’s Note:Commonwealth Bank is committed to helping home loan customers manage their day-to-day expenses, which is why the bank is expanding the offering. Conditionally pre-approved home loan eligible customers now have until 30 June 2023 to repay their loan and claim the offer by December 2023 to access a free nbn plan for three years.
MoreMore is nbn™, a premium, future-focused provider of telephone and mobile services for homes and businesses across Australia. Proudly Australian owned and headquartered in South Melbourne, More’s carbon neutral workforce includes some of the industry’s most experienced nbn™ and telecoms professionals. More is also proudly owned by the Commonwealth Bank, recently announcing a new strategic partnership that will unlock special benefits for CommBank customers and will see More’s nbn™ services integrate with the CommBank app over time, enabling customers to manage themselves. their internet and phone plans. The More team is passionate about providing Australians with the best internet and mobile connections to make their home life and business run as smoothly as possible.
About the research. The survey was conducted by the House of Brand Group with fieldwork conducted between 16/04/2022 and 21/04/2022 among a sample of n=1,072 nationally representative respondents stratified by age, gender and location. Of this sample, n= 419 have a home loan.
More offer terms and conditions: A discount of $77/month over the standard price of the XL Speed Boost nbn™ plan for 3 years for customers who pre-approve an eligible home loan who then find a property and finance $250,000 or more between 31 May 2022 and June 30, 2023. Offer not available for construction loans. Offer must be claimed by December 31, 2023. Customers can upgrade to a faster More nbn™ plan at any time, in which case the customer must pay additional plan fees on top of the $77/month discount. If the customer chooses a cheaper plan, they will pay $0/month for 3 years, but will not receive cash back for the difference. If the features or prices of More XL Speed Boost nbn™ or any plan chosen by the customer change, customers will be notified. In the event that the customer’s chosen plan is no longer available, they will be notified and transferred to a comparable More nbn™ plan with terms and price close to their current plan, and the offer will apply to that plan. Offer cannot be used in conjunction with other offers or discounts. Limit of one offer code per borrowing entity (eg individual, joint borrowers, company) and per customer. Limit of one offer code per joint application. Customers must maintain their home loan with CommBank and register and maintain a CommBank credit card or debit card as an online bill payment method to continue receiving the discount. This offer does not have to be used at the property being financed, the customer can choose the discount at any address where the More nbn™ service is confirmed to be available. The promotion period starts on the day your nbn™ service is activated on the nbn™ network. After 3 years the cost of your plan will revert to the then recommended retail price (RRP). More nbn™ plans RRP subject to change. Offer does not apply to any modem charges, nbn™ New Development Charges or nbn™ new or subsequent copper line charges or any additional services or usage charges. If you sign up, More will be your service provider for your nbn™ and handle all technical enquiries, complaints and maintenance. Provision of your nbn™ service is subject to More’s standard terms of service and policies available here on the More website. We reserve the right to withdraw or replace this offer at any time.
Things you need to knowProduct information and/or events are current as of the date of this media release and are subject to change. The information presented in this media is not financial advice. It doesn’t take into account your goals, financial situation or needs. You should consider seeking financial advice based on your own circumstances before making any financial decisions.