Cash back mortgages are offered by some lenders and it varies amongst the products they offer. Cash back is normally paid to applicants on completion of the mortgage to the solicitor. In some cases, mortgage lenders will send a cheque to the new residential house within a couple of weeks of completion.
Cash back mortgages usually help with set up costs such as legal fees or furniture.
Cash back mortgages can have its downsides as the bigger the cash back the higher the rate and early repayment charge. However in some instances, mortgage lenders will not apply higher rates and simply be seeking further business by offering this incentive. Speak to one of our mortgage brokers for information on up to date mortgage products
If you require mortgage advice on cash back and you are a first time buyer; please submit your details above and one of our mortgage brokers will call you. We do any mortgage Ltd have access to thousands of mortgage products across the high street and building societies. We’ll guide you through the mortgage process from start to finish. We are based in Vale Of Glamorgan.