Getting cashback after applying for a mortgage can take the sting out of a lender's charges, but they do not always give you the best rates.

To help you work out if a cashback mortgage is worth it:

  1. 1.

    Check how much you will repay each month over the cashback deal's term

  2. 2.

    Compare the monthly repayments to non-cashback mortgage deals

If the cashback is worth more than the interest you could save by taking out another mortgage deal, it may be worth it.

For example, if you get 500 cashback, another deal would need to save you more than this over it's term for it to be worth you taking out instead.

Watch out for charges when applying cashback offers, as the fees are usually more than you get back.

How do you qualify?

You need to pass the lender's eligibility criteria to qualify for the cashback, for example:

  • You are a first time buyer

  • You saved into the lender's cashback based savings account

  • You have your current account with the lender

If you are not sure if a cashback mortgage is right for you, speak to a mortgage broker before committing to any deals.

How to find the best mortgage deal

While getting cash back from a lender can give you a helping hand with moving costs, you may end up paying more due to the higher interest.

Use this comparison to find the lowest initial rate, but consider the cost of any fees before you apply.

Alternatively, you can compare all mortgage types using this comparison.

Cashback mortgages FAQs


How do I get the cashback?


Your lender will pay it into the account you set your mortgage direct debit up from, following the completion of the mortgage application.


Can I get the cashback twice for a joint mortgage?


No, lenders only offer cashback for each mortgage application, rather than each person applying.


Am I guaranteed to get the cashback?


No, each lender has an eligibility criteria you must meet to qualify for any cashback. Check with your lender before you apply.


Can I use the cashback for anything?


Yes, the cashback you get after your mortgage has completed can be used for any purpose, including home furnishing or repaying debt.

About our mortgage comparison


Who do we include in this comparison?


We include every mortgage in the UK you can apply for directly from the lender. They are all from lenders regulated by the Financial Conduct Authority. Here is more information about how our website works.


How do we make money from our comparison?


We have commercial agreements with some of the companies in this comparison and get paid commission if we help you take out one of their products or services. Find out more here.
You do not pay any extra and the deal you get is not affected.