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We’re mortgage experts. This means we know our stuff when it comes to all types of mortgages. We know where the best rates are and have access to exclusive deals just for Lending Expert customers.
We’re not tied to one lender which means we can search the wider market to find you the cheapest mortgages from across the UK.
Lending Expert is an FCA regulated credit broker which means you can be assured you are dealing with a legitimate and reputable finance company.
If you have bad credit or have previously been refused a mortgage we can consider your application. Whatever your circumstances please get in touch and we'll do our best to help find you the perfect mortgage deal.
Cashback mortgages, as the name suggests, involve being given a cash payout when you take out your mortgage. This value could be anywhere between 1% or 7% but will depend on the lender you choose. Commonly, the sum is around 5% of your mortgage payment.
Your lender will advance you a lump sum, in cash, when your mortgage is completed, and not before. This amount could be a fixed sum or a proportion of the amount that you are borrowing.
Lending Expert is a cashback mortgage broker and can compare over 1,000 mortgage deals across the UK. Whilst high street banks will typically offer cashback mortgages too, we can help find the best option for you with rates from 1.39% per month, whether you are looking for interest only, fixed, variable, tracker or have a bad credit history.
Start by clicking on ‘Check my Eligibility’ below and enter some basic details about you and your property – and Lending Expert will be able to help you find the best cashback mortgage according to your requirements.
Cashback mortgages provide the borrower with cash simply on the provision that they take out the mortgage. The exact agreement will depend on the lender. For example, the majority of cashback mortgage deals will give you the cash lump sum before you even need to make your first monthly mortgage repayment. However, some banks will only pay out the funds once the refinance is completed.
The lump sum of cash acts as an incentive and will help the borrower to refinance their home. Depending on the lender, cashback could be as high as 7% of the new mortgage amount and can be used for any purpose.
There are certain benefits that come with taking out a cashback mortgage, including:
Those looking to apply for a cashback mortgage can expect the following eligibility criteria and key features:
Cashback mortgages always come with a fixed interest rate which is typically higher than standard mortgages on the market. The reason for the high interest rate is because the lenders need to cover themselves for any additional money paid out upfront.
For example, a standard 5-year fixed rate on a standard mortgage may incur an interest rate of 3.25%. However, a cashback mortgage for the same loan term period may offer 3.79% with a 1% cash back.
We proudly offer cashback mortgages across the entire UK, including Birmingham, Brighton, Bristol, Cardiff, Edinburgh, Glasgow, Leeds, Liverpool, London, Manchester, Nottingham, Newcastle, Sheffield and more.
Speak to an expert today in order to find out how much you can borrow from a cashback mortgage.
For cashback mortgages, your repayment plan will need to allow for not just your mortgage payments, but also enough to cover any of your cashback payments.
Cashback mortgages can be a great option for many borrower types, especially due to their multi-purpose and tax-free nature. For those having doubts about whether this is the right type of mortgage for you, make an enquiry in order to speak to our team of expert advisors.
This type of mortgage can make sense for the following situations:
There are many cashback mortgages available on the market which is why it is always wise to shop around and ensure that you are receiving the best deal.
At Lending Expert, we compare the cashback mortgage market in order to find the best provider to suit your needs.
Rather than approaching the lenders directly and dealing with their in-house advisors, working with a mortgage broker will offer impartial advice to get you the best deal on the market.
Working with a mortgage broker such as Lending Expert will help you find the best mortgage to suit your circumstances without impacting your credit rating.
Contact us today to speak to an expert and start comparing cashback mortgages.
Prospective buyers should always consider the following factors before deciding to take out a cashback mortgage:
Working with a number of high street banks and specialist mortgage lenders, Lending Expert has access to over 1,000 mortgage deals, and is in the perfect position to help you get approved and get the best rates.
Our eligibility checker is completely free to use and can provide an indicative quote, with no obligation.
Founded in 2013, we have years of experience working in the secured loan and mortgage market and have helped thousands of customers to date. Our values have always been to find the right product for the right individual at the competitive rate – and we are pleased to offer our services for you today!