Cash-back mortgages

Cash-back mortgages are often aimed at first time buyers and the mortgage lender will offer a lump sum of cash at the start, or sometimes at an agreed point during the term, of your mortgage.

Usually the cash-back is offered as a package of benefits (e.g. linked with a discount) but pure cash-back mortgages are not uncommon. Mortgage lenders may offer a sum of money towards the cost of legal fees or survey charges. This could be, for example, £200 to £1000 as a flat amount, or a percentage of the mortgage loan.

In return, you typically have to agree to take the mortgage lender's standard variable mortgage rate.

Cash-back mortgages often have an early repayment charge which varies between lenders. Usually, these apply for a set period of time e.g. 2 or 3 years; however there may be some cash-back mortgages which have longer early repayment charges.

View today's best cash-back mortgages

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We do not charge a fee for residential mortgage advice. We charge an administrative fee for processing each of your mortgage contracts; our fees only apply when you decide to go ahead with an application.

Standard residential mortgages
For standard residential mortgage contracts the typical fee is £499, payable on application. Alternatively, you may pay a fee of 1% of the mortgage loan, payable on application, and any commission received from the lender will be returned to you after completion.

Buy-to-let mortgages
For buy-to-let mortgages a typical fee of 0.5% of the mortgage loan size applies of which £500 is payable on application with the balance payable on completion.

Offshore and commercial mortgages
For offshore and commercial mortgages a typical fee of 1% of the mortgage loan size applies of which £500 is payable on application with the balance payable on completion.

Impaired credit lending
For impaired credit lending the typical fee is 1% of the mortgage loan, payable on application. Alternatively, you may pay a fee of 3.5% of the mortgage loan, payable on completion, and any commission received from the lender will be returned to you after completion.