These
deals vary but, as the name suggests, you get cash
- in addition to the money you're going
to be borrowing. You may use it to pay for moving
costs and furniture etc.
Cashback
deals are perhaps best seen as a sales technique
to get you to take out a mortgage with a particular
lender. It's very rarely a genuine gift
and is probably used to tie
you in to the mortgage
lender - who will eventually more than make their
money back.
If
you need cash it may be an idea to shop around
to get
a loan. You can look for deals from your bank,
credit card etc. (Best not try the local loan shark
though).
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