Cashback mortgages from expert Manchester mortgage brokers
What are cashback mortgages?
On completetion of your new mortgage the lender will give you some cashback - ie a cash sum which will be specified in your Key Facts Illustarion(KFI). Amounts of cashback can vary considerably.
Who uses Cashback Mortgages?
First time buyers and home improvers often go for Cashback Mortgages if they are struggling to use their own cash. Cashback mortgages sound attractive, but beware, lenders are in business to make money , not to give it away. You may have to pay a higher interest rate and/or arrangement/booking fee and there may be early repayment charges.
Summary
Cashback Mortgages offer an attractive cash sum, but you will almost certainly pay a premium for this type of UK mortgage.
Offers:
| Provider | Mortgage Type | Initial Rate | Duration | Subsequent Rate | Overall cost for comparison APR% | Early Repayment Charges | |
 | Cashback - Fixed | 2.94% | Lifetime | 2.94% SVR | 5.0% APR | None after 3 years | Proceed |
 | Cashback - Tracker | 2.79% | 2 Years | 4.99% SVR | 5.0% APR | None after 2 years | Proceed |
 | Cashback - Fixed | 3.19% | 2 Years | 3.99% SVR | 5.0% APR | None after 2 years | Proceed |
 | Cashback - Fixed | 3.79% | 2 Years | 4.25 SVR | 4.25 SVR | Tied for 2 years | Proceed |
 | Cashback - Discount | 4.34% | 3 Years | 4.99% SVR | 4.99% SVR | Tied for 3 years | Proceed |
