Cash-Back Mortgage UK Mortgage definition

UK Mortgage definition

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Cash-Back Mortgage

A mortgage which provides a cash rebate on completion of the property purchase is called a Cash-Back Mortgage. The sum is either a percentage of the advance or a fixed amount.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
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Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

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