Lenders offering cashback incentives to tempt borrowers

by Aaron Strutt

Jun 08 2015

There has been an increase in the number of banks and building societies offering cashback incentives over the last few years, according to Moneyfacts.co.uk.

Research from the data provider shows there are 948 cashback mortgage deals on the market - over double the total of 469 recorded four years ago.

The average amount that can be received from this incentive has risen, from £274 to £475 over the same four-year period.

Halifax recently launched a mortgage incentive offering first-time buyers 1% cashback up to a maximum of £2,500. Please note, the scheme will be withdrawn on 28 June 2015.

Borrowers taking out a qualifying mortgage will receive the cashback within 30 days of the mortgage completing and the money is paid directly into their current account. 

For help to secure a cashback mortgage call Trinity on 020 7016 0790