It comes like recent research by the ABC found that the vast majority of Australian homeowners were bracing for higher interest rates ahead of the Reserve Bank’s decision to raise the exchange rate in May. The research also revealed what Australians with a home loan did to prepare for rate increases, with a third (33%) saying they were looking to cheaper providers for utilities/services to manage costs.
Dr Michael Baumann, Executive Managing Director of Home Buying, said: “We know that the rising cost of living is being felt by all Australians, especially those looking to buy property in the current environment. We want to support pre-approved home loan customers where we can, and that includes longer-term savings on essential, ongoing bills and commitments like the internet.
Andrew Branson, co-founder of More, said, “Getting free internet for three years and having an extra $2,700 in your back pocket is an amazing deal for homeowners and property investors because you don’t have to. no need to connect the nbn to the address where the loan is settled.
“This type of customer benefit has never been seen before and hats off to CBA for trying something new that will make a significant 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 three full years of continuous benefits,” he said.
Another recent CBA study found there was inertia around switching internet providers, with many Australians admitting they do little or no research when choosing an internet service provider. Internet access. This can mean they miss out on offers and discounts offered and the chance to save money on everyday bills.
The research also asked Australians about receiving offers on purchases and purchases from their bank, and more than half (56%) said they would like their bank to offer them more ways to save. In fact, 44% of Australians said they expect their bank to provide offers that help them save money. This is something that is also expected of their telecommunications and internet providers (43 percent respectively) and their energy suppliers (39 percent).
“What the research tells us is that Australians want value from their lender and in a way that suits their needs. We also hear from our customers that they want to save money, get a great deal, and grow their dollar, especially on day-to-day and ongoing engagements,” said Dr. Baumann.
For more information on local telecommunications provider Plus, visit their website. To learn more about the nbn offers available to CBA customers, including the latest offer for customers who qualify for the conditionally pre-approved home loan, visit here.
We encourage clients to speak to their CBA lender or broker about how we can get them into a home sooner.
For more information and assistance, the bank has resources to help customers manage your mortgage in a context of rising interest rates.
Editor’s note: Commonwealth Bank is committed to helping home loan customers manage their day-to-day living expenses, which is why the bank is extending the offer. Customers who qualify for the conditionally pre-approved home loan now have until June 30, 2023 to settle their loan and claim the offer by December 2023 to access the nbn plan free for three years.
About More: More is a premium, forward-looking provider of nbn™, telephone and mobile services to individuals and businesses across Australia. Proudly Australian-owned with headquarters in South Melbourne, More’s carbon-neutral workforce includes some of the most experienced nbn™ and telecommunications specialists in the industry. More is also proudly part-owned by Commonwealth Bank, who recently announced a new strategic partnership that will unlock special benefits for CommBank customers and see the integration of More’s nbn™ services with the CommBank app over time. , giving customers the ability to self-manage their internet and phone packages. The More team is passionate about providing Australians with the best internet and mobile connections to keep their home life and business running as smoothly as possible.
About research: The survey was conducted by the House of Brand group, with fieldwork conducted between 04/16/2022 and 04/21/2022, with a sample of n=1,072 nationally representative respondents with quotas set on age, gender and location. Of this sample, n= 419 have a home loan.
More terms and conditions of the offer: The $77/month offer off the standard price of the More XL Speed Boost nbn™ plan for 3 years is for customers with conditional pre-approval of a qualifying home loan who then find a property and finance $250,000 or more between May 31, 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 customer must pay additional plan fees beyond the $77/month discount . If a customer wishes to select a cheaper plan, they will pay $0/month for 3 years but will not receive cashback 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 package chosen by the customer is no longer available, he will be informed and will switch to a comparable More nbn™ package with conditions and prices closer to his existing package and the offer will be applied to this package. . Offer may not be combinable with other offers or discounts. Limit of one offer code per borrowing entity (eg individual, co-borrowers, company) and per client. Limit of one offer code per joint application. Customers must maintain their home loan with CommBank and register and maintain a CommBank credit or debit card as their online bill payment method in order to continue to receive the discount. This offer does not have to be used at the property being financed, the customer may choose to use the discount at any address where a More nbn™ service is confirmed as available. The promotional period begins the day your nbn™ service is activated on the nbn™ network. After 3 years, the cost of your plan will revert to the recommended retail price (RRP) in effect at that time. The RRP for More nbn™ plans is subject to change. Offer does not apply to modem charges, new nbn™ development charges or new or later nbn™ copper line charges or charges for additional services or usage. If you register, More will be your service provider for your nbn™ and handle all technical inquiries, complaints and maintenance. The provision of your nbn™ service will be subject to More’s terms of service and policies, which are available here on the More website. We reserve the right to withdraw or replace this offer at any time.
What you need to know: Product information and/or measurements are current as of the date of this press release and are subject to change. The information provided in this press release does not constitute financial advice. It does not take into account your goals, financial situation or needs. You should consider seeking financial advice based on your own circumstances before making financial decisions.