cash back mortgages

	Cash Back Mortgages

Looking for a cash back mortgage ?

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A Cash Back Mortgage is one where the lender pays the borrower a sum of cash on completion (set-up) of the new mortgage. This sum or 'cashback' is either a fixed specified amount (e.g. £1,000), or a percentage of the amount borrowed (e.g. 4%). This cashback may be used for any purpose by the customer, eg. For the purchase of furniture or to decorate a new home. Purchasing a home can be an expensive business, so this initial cash injection may be of great benefit and importance

. Please be aware that lenders may impose a minimum time period with a cashback mortgage - should you pay off your mortgage in part or full prior to the end of this period, there may be a requirement to pay back some or all of the cashback as part of an early repayment charge.

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