Cash
Back Loan |
Amicable
Mortgage Services Limited |
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781 0414 |
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Cash-back
mortgage
Contact
Us
Cashback
mortgages potentially may give the new buyer of a property
a lump sum of money on mortgage completion
This potentially
may suits a first time buyer or new purchaser whereby they
may be stretched for cash and wish for a cash sum in order
to possibly help as their saving will be low after a purchase.
Typically
this helps with home improvements, legal costs or perhaps
buying new furniture and fitting for their new home. The lump
sum can be spent on anything that the client wishes. Quite
often the amount of lump sum will be a percentage of the mortgage
advance. But the buyer is also be tied in for some years if
they wish to move unless the mortgage is portable whereby
they can take their existing mortgage to a new property without
paying early redemption charges
and in some instances they may have to repay the cashback
amount.
The
draw back with this type of mortgage is that often there may
be large early repayment charges that may run after the initial
product time is over. This can often be several years and
the rate will normally be higher than other types of mortgages
for example a discount mortgage. The lender's clients potentially
may often after the initial rate be placed on to the lender's
standard variable rate which can be relatively high.
Contact
Us
0800
781 0414
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| THINK
CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR
HOME.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP
REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED
ON IT.
There may be a fee for broker advice, the precise
amount of the fee will depend upon your circumstances.
If a fee is charged it will be 2% of the loan amount
payable on completion of the mortgage, subject to
minimum £595. For example a £100,000 advance
X 2% = £2000.
The Financial
Services Authority
does not regulate some aspects of commercial finance,
personal finances, buy to let and overseas mortgages.
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0800
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FreePhone
0800 781 0414
Amicable Mortgage Services Ltd, 32 Twyford Avenue,
Upper Shirley, Hampshire, UK, SO15 5NP, which is
authorised and regulated by the Financial Services
Authority.
Registered office 5 New Broadway, Hampton Road,
Hampton Hill, Middlesex, TW12 1JG, registered in
England No4470987
©2008
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