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  • FIRST POST
    • glider3560
    • By glider3560 18th Jun 17, 7:44 AM
    • 3,318Posts
    • 2,043Thanks
    glider3560
    Halifax £1000 cashback - how does it work?
    • #1
    • 18th Jun 17, 7:44 AM
    Halifax £1000 cashback - how does it work? 18th Jun 17 at 7:44 AM
    Halifax are currently offering £1000 cashback on completion, paid to the conveyancer.

    Does anyone have any experience of how this works in practice?

    Do they send the £1000 through with the mortgage funds, effectively meaning I can send £1000 less to the solicitor. Or will the solicitor have to refund the £1000 to me at some point after completion?

    I will ask the solicitor, but they obviously aren't open on a Sunday.

Page 1
    • Lilla D
    • By Lilla D 18th Jun 17, 9:39 AM
    • 316 Posts
    • 161 Thanks
    Lilla D
    • #2
    • 18th Jun 17, 9:39 AM
    • #2
    • 18th Jun 17, 9:39 AM
    Do they send the £1000 through with the mortgage funds, effectively meaning I can send £1000 less to the solicitor.
    Originally posted by glider3560
    Yes, that's exactly it
    I am a Mortgage Broker
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • darkman13
    • By darkman13 18th Jun 17, 10:10 AM
    • 76 Posts
    • 5 Thanks
    darkman13
    • #3
    • 18th Jun 17, 10:10 AM
    • #3
    • 18th Jun 17, 10:10 AM
    Is this available ony direct or via broker too?
    • Lilla D
    • By Lilla D 18th Jun 17, 10:17 AM
    • 316 Posts
    • 161 Thanks
    Lilla D
    • #4
    • 18th Jun 17, 10:17 AM
    • #4
    • 18th Jun 17, 10:17 AM
    Via brokers too
    I am a Mortgage Broker
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • ACG
    • By ACG 18th Jun 17, 11:08 AM
    • 15,765 Posts
    • 8,063 Thanks
    ACG
    • #5
    • 18th Jun 17, 11:08 AM
    • #5
    • 18th Jun 17, 11:08 AM
    Dont get pulled in by the cashback. I am not saying it is a bad deal, but someone came to me last week thinking it was unbeatable. I managed to find 3 deals that were over £1k cheaper and he best of the 3 had no cashback.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • glider3560
    • By glider3560 18th Jun 17, 12:02 PM
    • 3,318 Posts
    • 2,043 Thanks
    glider3560
    • #6
    • 18th Jun 17, 12:02 PM
    • #6
    • 18th Jun 17, 12:02 PM
    Dont get pulled in by the cashback. I am not saying it is a bad deal, but someone came to me last week thinking it was unbeatable. I managed to find 3 deals that were over £1k cheaper and he best of the 3 had no cashback.
    Originally posted by ACG
    Indeed. I've taken everything into account.

    I'm in a bit of a situation where the number of lenders is limited:
    • borrowing 4.6x salary (but planning a large overpayment in next year or so)
    • ending job at an intergovernmental organisation with no UK tax paid for last few years
    • new job on fixed term contract
    • in probation period
    I went to two brokers. One (who did everything over the phone) came up with a slightly better deal, but this fell through at the DIP stage as he realised they only use 80% of your income when on a fixed term contract. The other broker (face to face) initially suggested a worse deal with another lender, until I asked specifically about Halifax, but he seemed reluctant to use them for some reason. Went direct to Halifax in the end, where the service has been excellent.



    After the 2 year fixed deal ends, when I'm out of probation on the new job and the intergovernmental organisation stuff is all complete, I'll be able to remortgage onto a much better deal elsewhere.

    • darkman13
    • By darkman13 18th Jun 17, 2:06 PM
    • 76 Posts
    • 5 Thanks
    darkman13
    • #7
    • 18th Jun 17, 2:06 PM
    • #7
    • 18th Jun 17, 2:06 PM
    I was offered 5 year fix at 1.70, at 44% ltv it was ok i think
    • ACG
    • By ACG 18th Jun 17, 3:29 PM
    • 15,765 Posts
    • 8,063 Thanks
    ACG
    • #8
    • 18th Jun 17, 3:29 PM
    • #8
    • 18th Jun 17, 3:29 PM
    I got mine at 1.24% at 65% ltv. But it means nothing as it all depends on the loan amount, term, fees etc etc.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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