Extra Cashback?

dawny10

Hi all
Currently looking to remortgage and wondered if anyone knew of providers who offer extra cashback or better deals to people who hold other accounts with them?

e.g. Alliance & Leicester give £250 cashback on their mortgages if you have a current account with them.

Cheers

Barney088

Dawny10,

Lenders all need to make a profit and it would be best to shop around for the best deal for you. Offering a few pounds if you take an account with them will rarely produce the best rate for you. If you are switching your mortgage the main fees are things like a valuation report, Legal fees and the lenders "Admin" fee. £250 would not cover these to be careful of what free things you pick up. I'd advise you to see a fee free whole of market mortgage broker and see what they suggest once they have done a full fact find on your situation.

I'm one, but there are hundereds, it would be best for you to find one near you. Good luck

dawny10

I have been researching the market (and have been to a broker) - it's just hard sometimes to find out who offers these extra incentives which can actually make a significant difference to who is offering the best deal.

In my experience brokers don't necessarily seem to be aware of these 'extras'.

Barney088

I always look, as a broker, at the figures "what will this cost over the next 2 years (assuming a 2 year deal is what you want). THis will take into account the costs up front, any fees, the monthly installment, the fees to exit (varies between 100 and 300) and which ever comes up cheapest I tend to go for. Under some situation, criteria based the options are limited but if you ask the broker, what is the total cost to me.... they should compare all the products availiable to you and give you an exact figure which will justify their selection and advice.