This scheme is often used as an incentive for customers to buy or use a product. The borrower is given money back â€“ usually a percentage of the amount borrowed, or a fixed amount.
a set lump sum or a percentage of your loan offered as cash on completion as part of your mortgage deal. Often the deal is then subject to early redemption penalties.
A loan where the borrower is given back a sum of money (usually a percentage of the loan). This is offered by some lenders as an incentive to borrow from them. These loans are typically at a higher rate than other mortgages.
Certain mortgage products offer cashback, which means you get a cash lump sum to spend on anything you want.
A mortgage that provides a borrower with an immediate lump sum payout on top of the sum borrowed to buy the property. This has to be paid for one way or the other, so cashback mortgages will typically be at a higher rate than other mortgages and will usually have early repayment charges for several years.
The lender will, either on completion of the mortgage or shortly afterwards, give you a cash sum. This is generally a percentage of the mortgage i.e. 3%. Cashback mortgages can be linked to discounted, fixed or capped rates.
A sum of money (paid by cheque) by the Lender on completion of a mortgage (but only if this arrangement formed part of the mortgage offer)
A cash amount paid by a mortgage lender to a customer (typically at the beginning of a contract) as an inducement to enter into a regulated mortgage contract with the mortgage lender.
Many mortgage providers offer a cash incentive to purchase their products. Once the mortgage commences you will be given a sum calculated by the provider to spend as you wish. Although this sum can be useful when considering the costs associated with moving (new carpets etc.)the borrower should still be aware of the other terms of the mortgage which may cancel out the cash benefit in the long term.
This is a lump sum of cash you receive when you complete a mortgage. You receive the cash from your lender after completion. The amount can be a % of the amount of loan or a fixed amount. Often if you accept a cashback incentive with your mortgage product you will be tied into the mortgage for a period of time.
A kind of mortgage that provides the borrower with a lump sum of cash after securing the loan. Typically 5% of the value of the mortgage.
an amount paid back to you when you take out a loan or mortgage, either a fixed sum or a percentage of the total amount.
The expression "cashback" refers to a type of loan where the borrower is given a cash lump sum, often a percentage of the loan amount, on completion of the loan. The early repayment charge is often higher on these loans, especially if the loan is repaid in the first few years of the loan. Lenders use cashback as an incentive to promote their products.
An incentive given by a company to encourage you to take out a loan or other mortgage with them.
A lump sum paid to borrowers for agreeing to take a loan or mortgage. Offer often used by lenders as an incentive to borrowers to switch mortgage providers.
A payment that you may receive, depending on the type of mortgage that you take out. The cashback may be a fixed amount, or a percentage of the amount of the mortgage.
A sales incentive, commonly used on mortgages, which gives customers a cash sum as soon as the mortgage completes.
A payment you receive when you take out a mortgage. It may be a fixed amount or a percentage of the actual amount of the mortgage.
An amount, either fixed or a percentage of a mortgage, which you can opt to receive when you complete your mortgage. The lender may well claw back this money through a higher interest rate.
A CASH SUM PAID TO YOU AFTER COMPLETION OF YOUR MORTGAGE - ONLY PAYABLE ON OUR SPECIAL "CASHBACK" MORTGAGE SCHEME AND SOME FIXED INTEREST RATE PRODUCTS (SEE PRODUCT GUIDES FOR DETAILS).
A payment (either a fixed or a percentage of the mortgage amount) offered by some lenders as an incentive to borrow from them. Sometimes there are redemption penalties associated with these types of deals.
A payment you receive on completion when you take out a "Cashback" mortgage.
a customer incentive where a card issuer gives you a cash percentage of what you spend using your credit card.
Type of loan where the borrower is given back a sum of money (usually a percentage of the loan). Commonly used by lenders as an incentive to promote their products.