Cash Back Mortgage Information
Some lenders will offer a cash back. This is an incentive payment to the borrower, and is usually paid by the lender on completion of the loan.
Advantages:
Can be very useful, especially to cover moving costs and any work or redecoration that may need doing.
Disadvantages:
If the mortgage is redeemed within a preset period some or all of the cash back will have to be paid back to the lender.