Cash Back Mortgages / Remortgages
On completion of the mortgage, a cash back lump sum is paid to the mortgage applicant. There are two ways a cash back mortgage can be offered by a mortgage lender.
1. With a lender standard variable rate
The lender will offer a large cash back once the mortgage is completed. This cash back can be as high as 6% of the new mortgage amount.
2. Offered alongside another mortgage product
The other mortgage product could be a fixed rate mortgage, variable rate mortgage or any other types of mortgage. The cash back is normally a small amount to cover costs such as legal fees.
If you are searching for a cash back mortgage, why not speak to Go Remortgage. We are a leading mortgage and remortgage specialist and our expert FSA regulated mortgage advisors are more than happy to provide you with free no obligation advice.
