An incentive payment made by the lender to the borrower upon completion of a mortgage. Payments made as cashbacks can be treated as gifts and are subject to capital gains tax.

Cash backs is normally aimed at first time buyers and offer a lump sum payment at an agreed point in the term of the mortgage.

Cash back can be in the form of discounts or a lump sum of cash in your account. Normally lenders will make cash back offers on the basis of the borrower accepting the lenders standard variable rate.

Cash Back Mortgages
Cash back mortgages provide you with a single lump sum of cash immediately on completion. The amount of cash is usually calculated as a percentage of the overall loan amount, though it can be a set figure. The percentage of the loan that is given as cash back can be as high as 5%, though amounts in the region of 1 to 3% are more common.

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