Suncorp has joined the wave of banks to withdraw cashback inducements in the home loan market. The bank advised brokers in a notification that its A$3000 cash back boost to mortgage borrowers will be withdrawn at the end of this week (2 June). The offer has been available to borrowers seeking refinancings above $500,000. Suncorp’s move follows Westpac’s decision last week to bin its $3500 cashback offer to refinancers on 30 June. Among the major banks, only ANZ continues to market cashback offers to refinancing borrowers. ANZ is offering homeowners up to $4000 cash if they refinance at least $250,000 on a loan to value ratio of less than 80 per cent. Official APRA data shows that the cashback offer has helped Suncorp to eke only marginal growth in mortgage lending this year. In the three months to the end of March, Suncorp’s total lending to owner occupiers and investors by $145 million to $49.72 billion.