Cash Back Mortgages - Cheap Mortgage Deals

A lump sum of money, which can range from as little as £400 to thousands, is given by the lender i.e. cash back when the mortgage is taken out. It could be a set figure or a percentage of your overall mortgage. Sometimes be used to fund the deposit or be used for immediate home improvements. You are probably paying for this cash back in the mortgage rate you pay.

If you decide to terminate your mortgage agreement before the fixed period ends, you will usually be expected to repay the cash back amount.