Best buy tables, how do I get the cashback?

FUNKYDADDIO

Hi guys, my mortgage product is due to expire in a few weeks (current lender only gave me 5 weeks to prepare despite phoning to get quotes several times) On the best buy tables I can see a decent offer but it includes cashback, when I click on the deal with actual provider it is nowhere to be seen, anyone able to help?!?

Thanks folks

GMS

Cashback will be sent to the solicitor dealing with the legals and paid to you on completion.

FUNKYDADDIO

Thanks. My concern is how do I know I will get it, its not advertised in any way on providers own site? Thanks..

GMS

Which lender? Which product?

Not all products will have cashback. Some may have free legals instead for instance.

FUNKYDADDIO

Thanks GMS, its with a local bank, Ulster bank on a 3 year fixed rate, Cheers..

kingstreet

Are you looking at your current lender's customer retention products for existing borrowers not moving home?

Many people look at remortgage products, but these are for borrowers new to the lender, not for existing borrowers.

amnblog

I hope you do not think Lenders will be honouring terms set out on a third party website? These comparison sites frequently list incorrect or incomplete information. Plus users will often search for the 'wrong thing'.

A little knowledge is a dangerous thing.

FUNKYDADDIO

Hi guys, thanks for your replies, it's the best buy tables on mse (here) which I am using... Does not specify if it's current or new busines.. Thanks again..

marathonic

Ulster Banks retention deals are very good - 1.49% 2 year fixed or 2.49% 5 year fixed.

Both of the above assume 60% LTV and come with a £199 fee.

I'm not aware of any cashback related to the above deals.


At 70% LTV, the above rates increase to 1.85% and 2.88% respectively - with the same £199 fee.

At 80% LTV, the above rates increase to 2.28% and 3.15% respectively - with the same £199 fee.

FUNKYDADDIO

Yeah I have 60%ltv, basically first direct and ulster have same overall cost of 3 year fix, if cashback in place. If not first direct is best.. Thanks guys..

marathonic

FUNKYDADDIO wrote: »

Yeah I have 60%ltv, basically first direct and ulster have same overall cost of 3 year fix, if cashback in place. If not first direct is best.. Thanks guys..

Don't forget that Ulster Bank will charge you a leaving fee (different to ERC). I think it's either £90 or £125 - check your paperwork.

I moved from Ulster Bank to First Direct in December but Ulster Bank's rates have since improved.

Were I still with Ulster Bank, I'd stay with them and choose the 2 or 5 year fixed rate (because I don't think the rate on the 3-year fixes represent good value).