Cashback mortgages on the rise

Mortgage lenders are offering hundreds of pounds in cashback to lure borrowers, as with mortgage rates near record lows, it is difficult for them to attract new customers by pushing interest rates down farther. There are currently 1,202 cashback mortgages available, according to research from Moneyfacts, compared to 939 products in May last year. The average cashback sum is £360, but many lenders are offering £500 or £1,000.

The Times (13/07/2018)