Experts

The experts’ conclusion.

It’s impossible to say that cashback mortgages are an entirely good or an entirely bad thing. For some people they will work incredibly well – the extra money paid out will get them through a bad time and the above average interest rates and extra tie-ins can be a price worth paying. For others, though, cashback mortgages can be a bad deal from the start. The crucial thing is to be aware of exactly what you are signing up. Find out exactly how much you will have to pay each month and compare this to the best-buy rates you could find elsewhere. Ask yourself where you will be in three, five or more years time – and check if the cashback mortgage will be flexible enough to cope.