Echo Finance

CASHBACK MORTGAGES

Cashback mortgages will give you cash lump sum when you successfully apply for one, however catches do apply, so make sure you know what to look out for.

Cashback mortgages are one of the many headline incentives lenders are using to try to entice customers, but while the up front cash of anything between £200 and £1,000 can be tempting, often the deals do not work out to be quite as good as they look.

Cashback mortgages often come with interest rates slightly higher than the regular mortgage deals on the market. Many of them also come with extra restrictions on making early repayments. However, they can be useful to those who could benefit from the extra money.

For many first time buyers, having extra cash up front can be really useful in helping with the various moving costs and with buying furniture. But in the long run many of the cashback mortgage deals do not stack up against the best rates on the market, so it comes down to what works for you.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
IF YOU ARE THINKING OF CONSOLIDATING EXISTING BORROWING YOU SHOULD BE AWARE THAT YOU MAY BE EXTENDING THE TERMS OF THE DEBT AND INCREASING THE TOTAL AMOUNT YOU REPAY.
Echo Finance

Registered in England and Wales No. 6939070. Registered office - The 1812 Building, Wheatley Park, Mirfield, West Yorkshire, WF14 8HE. Echo Finance Limited is authorised and regulated by the Financial Conduct Authority. Echo Finance Limited is entered on the FCA register (www.fca.org.uk) under reference 570073. The Guidance and/or advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK. The Financial Conduct Authority does not regulate Will Writing, Estate Planning and some forms of Mortgages. © Copyright Echo Finance Limited. Where you have a complaint or dispute with us and we are unable to resolve this to your satisfaction then we are obliged to offer you the Financial Ombudsman Service to help resolve this. Please see the following link for further details: www.financial-ombudsman.org.uk.

Echo Finance Limited

The 1812 Building, Wheatley Park, Mirfield, West Yorkshire, WF14 8HE

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