Mortgage Types
 

Cash Back Mortgage

A cash back mortgage is a type of offer attached to a regular mortgage rather than a significantly different type of mortgage. In this system, alongside the payment made to the seller of the property, you will also receive an amount of money yourself that you might use for furniture, improvements, moving and so on.

Although it sounds good, cash back mortgages usually come with higher interest or extensive tie-ins. It very rarely a good deal and you might be better off borrowing or obtaining money from other sources.

Mortgage Guides

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