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Mortgage Advance Cashback
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kev1311
Posts: 2 Newbie
Can someone please help me understand what a mortgage advance is please?
I have just paid my Depsoit and Legal fees to my solicitor. I have asked when I will receive my £500 cashback from Halifax, her reply was.....
"The cashback is part of the mortgage advance so there wont be anything additional coming back to you"
What does that mean???
I have just paid my Depsoit and Legal fees to my solicitor. I have asked when I will receive my £500 cashback from Halifax, her reply was.....
"The cashback is part of the mortgage advance so there wont be anything additional coming back to you"
What does that mean???
0
Comments
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We are supposed to be getting cash back with Natwest too, so would be interested to hear others comments0
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It means the cashback is dropping into the pot of funds used by the Solicitors to complete the purchase and they have altered their request to you for funds by £500 to allow for it.
You will get the benefit by giving the Solicitors £500 less.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.0
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