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Cash Back

This is the arrangement whereby a cash sum of money is repaid to the borrower at the start of the mortgage. The amount of the cash back will vary considerably from lender to lender with the highest amounts being paid where the borrower is willing to forgo any fixed or discounted rate offers and pay the normal variable mortgage rate.

Cash back deals are also available in conjunction with some fixed or discounted rates but the amount of the cash back will normally be reduced in these circumstances. The lender will normally impose early redemption penalties if the mortgage is redeemed within the first few years (see Redemption Penalties).

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Your home may be repossessed if you do not keep up repayments on your mortgage. Site Last updated 13th July 2005. © Martin Mortgages, Stableford Lodge, Jaras Drive, Baschurch, Shropshire SY4 2DH Martin Mortgages Ltd is an appointed representative of Thinc Assured Network Limited which is authorised and regulated by the Financial Services Authority. This site is intended for UK Consumers only. Our typical fee for advice is 1% of the mortgage advance or £500 whichever is the greater. The overall cost for comparison is 8.4% APR.  The actual rate available will depend on your circumstances.  Ask for a personalised illustration.  APR variable and based on a usual case. Not all buy to let mortgages are regulated by the Financial Services Authority. Think carefully before securing other debts against your home. Please note Commercial Mortgages are not regulated by the Financial Services Authority.
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