Cashback Mortgages
Hot Topics
- How long are mortgages usually for?
- As with any loan, you can choose to take your mortgage out for any amount of time – however the norm is 25 years.
- Where Can I Buy a Mortgage?
- Many, but not all financial services companies offer mortgages. If you are looking for a mortgage the traditional approach is to speak to you bank or a building society. However, you are most likely to find the cheapest deals by speaking to a Mortgage Broker.
- What Happens If I Want To Move Home?
- Moving home is basically the same as moving into your first home, in mortgage terms. You are free to find yourself another mortgage with either your existing lender or another lender – and can shop around for the best deal on the market.
- What is a Fixed Rate Mortgage?
- A loan where the initial payments are based on a certain interest rate for a stated period and the rate payable will not change during that period regardless of changes in the lender's standard variable rate.
- What are Self Certification Mortgages?
- When you apply for a mortgage, the lender will require from you proof that you will be able to maintain the mortgage payments, and do not present a risk of non-payment for the large amount of money you are borrowing.
Cashback Mortgages provide you with a lump sum of cash upon completion of the property purchase, either as a percentage of the mortgage or a fixed sum.
Many people wish to make home improvements or extensions to their new home, but most cannot afford the additional cost on top of their mortgage repayments.
A cash back mortgage provides a cash lump sum once the mortgage is fully in place and the new property has been purchased. The cash lump sum can be used for anything, but in practice the majority of people wish to add value to their new home.
A cash back mortgage can be achieved by over mortgaging your new property with ANY mortgage lender who will offer you the mortgage. It is not a specific variant of mortgage but a specific use of a mortgage.
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