Your Key to a better Mortgage

Cash back mortgage

Fact:
When you take out a cash back mortgage, your lender will provide you with a cash lump sum when your mortgage starts. This "cashback" can be thousands of pounds and is usually calculated as a percentage of the loan you take out. It should not be confused with other types of mortgage rate which offer a small cash sum to help with moving costs as part of the deal.

Benefit:
The lump sum can help you furnish/decorate your new home or pay off a debt at a time when money is traditionally tight.

Pitfall:
With this mortgage, you will normally be on the lender's variable rate or a higher fixed rate, which may not be competitive. There will usually be large early repayment charge too.

Further information is available from our Advisers.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Our mortgage service is completely independent and there is no need to pay us a fee as we are paid commission by the lender. (If you prefer, you can choose to pay us a fee, usually 0.4% of the loan and we will pass on the lender's commission to you).

The FSA do not regulate some forms of mortgage.