A cash-back mortgage comes with a cash sum that’s paid to you once you mortgage or remortgage has been completed. This kind of mortgage can be appealing, as it gives you money that could help you settle into your new home or help with your legal fees, for example.
The amount you receive is normally expressed as a percentage of the amount you’ve borrowed.
However, it’s important to be aware that this type of loan might not be provided at a competitive price, and may mean that you’ll be paying higher month-to-month payments as a result. You know what they say, there is no such thing as a free lunch.
To discuss the suitability of a cashback mortgage for your property in the Antrim or Ballymena area, contact us today https://mortgageoptionsni.co.uk/contact-us/ your local independent mortgage broker
As a loan is secured against your home, it could be repossessed in case you do now not maintain up the mortgage repayments.