Halifax has launched a £1,000 cashback offer to those taking out a qualifying mortgage. Buying a home is an expensive business, so cashback deals can assist with the cost of moving.
What’s the deal exactly?
First-time buyers and home movers can earn £1,000 in cashback when buying a home using a qualifying Halifax mortgage.
This is available to those who apply for a Halifax mortgage before 2 July 2017. The £1,000 cashback will be paid on completion through your conveyancer.
If you already have a mortgage offer from Halifax with no cashback you can can re-apply for the mortgage to get the £1,000. But remember the rate offered previously may not be available any more for new applicants, so check first.
Why should I care?
As well as saving for a deposit, mortgage fees, and stamp duty, the cost of moving can add up. So this deal gives new homeowners and those moving cash to spend on moving costs and settling in to a new property.
What’s the catch?
The majority of Halifax’s first-time buyer and home mover mortgages are included in the offer. However some, such as those using government shared equity schemes, are not covered.
This offer also excludes product transfers and further advances.
While many providers offer cashback on mortgages, it may be cheaper in the long-run to take out a product with no cashback and a lower initial rate.
What other options do I have?
As highlighted above, Halifax’s mortgages may not be the cheapest for your circumstances. Use the Moneywise mortgage comparison tool to help find the right deal for you.
Elsewhere, Chelsea Building Society, Post Office Money and Skipton Building Society also have £1,000 cashback offers running at present, although on a more limited number of products.
Where can I find out more?
Full details are on the Halifax mortgage website.