Cash Back Mortgage Information

 

Some lenders will offer a cash back. This is an incentive payment to the borrower, and is usually paid by the lender on completion of the loan.

 

Advantages:

 

Can be very useful, especially to cover moving costs and any work or redecoration that may need doing.

 

Disadvantages:

 

If the mortgage is redeemed within a preset period some or all of the cash back will have to be paid back to the lender.