The number of mortgage lenders offering cashbacks has fallen to 15, after reaching a high of 35 in March, comparison site RateCity reports. Most, but not all, cashback offers are for refinancing. These accounted for A$21billion of a total of $45.9 billion of mortgage lending in May. Lenders offering cashbacks include ANZ, Bank of China, Bank of Queensland, Greater Bank, HSBC, IMB Bank, loans.com.au, ME Bank, Newcastle Permanent, Reduce Home Loans and Regional Australia Bank. Westpac has withdrawn its cashback offer but its subsidiaries St George, BankSA, Rams and Bank of Melbourne are still offering them. Most cashback offers are between $2000 and $4000. Reduce Home Loans has the biggest offer - $10,000 – which is available to borrowers with loan balances of more than $2 million. Comparison site Mozo reported that cashbacks are not the only inducements being wound back. It said a number of rate discounts and special low variable rates were withdrawn or adjusted in June. Lenders are shifting their focus from market share gains to margin preservation.