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19 Sep 2019

Mortgage Advice


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  1. Fixed Rate
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  6. Cash Back
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  8. Offset Mortgage
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Cash Back Mortgages Explained

Cash Back Mortgage

A cash back mortgage is one where a cash lump sum is paid to the mortgage applicant on completion of the mortgage.

There are two main ways a cash back mortgage can be offered by a mortgage lender.

Cash Back Mortgage with a lenders standard variable rate SVR

A cash back mortgage with a lenders standard variable rate, this can offer a large cash back on completion of the mortgage. This cash back can be as high as 6% of the new mortgage amount and can be used for any purpose.It is worth noting that the cash back is often paid 2 to 3 weeks after the mortgage has completed, making it difficult to use for a deposit on a house purchase.

Cash Back Mortgage offered along side another mortgage product

A cash back mortgage offered along side another mortgage product such as a fixed rate or discount rate scheme, these cash backs are usually a small amount to cover say a refund of the mortgage valuation or contribution towards legal costs for the house purchase/remortgage.

Pros and Cons of Cash back mortgages


  • The additional cash can be useful at a time when you may have little spare cash.



  • Early redemption penalties can be onerous and expensive and will apply for a long period if the lender offers a large cash back.
  • You may have to pay an application fee when arranging your cash back mortgage.
  • Interest rates tend to be higher than other mortgage products available.


Do you want fee free cash back mortgage advice?

If you are interested in Cash back mortgages or remortgages and want to speak to a mortgage advisor about Cash back mortgage products please complete the mortgage enquiry form and a professional mortgage advisor will contact you.

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We normally do not charge a fee for mortgage advice, however this is dependent on your circumstances. Our typical fee would be £500


Think carefully before securing other debts against your home, your home may be repossessed if you do not keep up repayments on your mortgage.

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Go Financial Services is a trading style of Go Direct UK Ltd which is an appointed representative of Personal Touch Financial Services Ltd which is authorised and regulated by the Financial Conduct Authority. Registered in England & Wales Company 5703224. FCA Number 456600

We normally do not charge a fee for mortgage advice, however this is dependent on your circumstances. Our typical fee would be £500