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What is a cashback mortgage?
Cashback mortgages offer an initial lump sum that can be used for costs such as legal fees, stamp duty, removals, new furniture or home repairs. The deal usually allows you to borrow up to 95% of the property value, with cashback of around 5-6%. Lenders commonly arrange cashback mortgages as standard variable rate or tracker deals. In some cases, the cashback is paid at the end of the repayment term. There may be early repayment charges if the sum is repaid before the end of the agreed period.
Arrange a cashback mortgage quote...
You can arrange an immediate cashback mortgage quote by calling us on 0845 603 1525 or filling in this online form. It’s also worth considering the following points about this type of deal before making your decision:
The money is usually forwarded to your account when the application is complete
Some deals provide the cashback at the end of the mortgage term
A good option for first time buyers
Your deal may have early repayment or switch penalties
Some people may prefer 100% or even 125% deals
Find a cashback mortgage quote
Feel free to contact us on 0845 603 1525 to talk to one of our team. We can arrange an immediate quote and help you find the best deal on the market.
Get quotes prepared fast and easy from our award winning brokers starting, with our smart online form. Quote request
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With a whole of market choice that simply won't be beaten, find better and we happily match this while refunding TWICE the first years payments difference - guaranteed!
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