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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 look for better deals from your bank, credit card etc. (Best not try the local loan shark though).
To read more on this subject please see the list below or your mortgage guide or your home buying guide
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All UK Mortgage types
100%
Mortgages
Base
Rate Trackers
Bridging
Loans
Bad
Credit Mortgages
Buy to Let
Calculators
for Mortgages
Cashback
Mortgages
Capped
Rate
Costs
of a Mortgage
Current
Account Mortgages
Discounted
Variable Rates
Equity
Release Mortgages
Endowment
Mortgages
Expatriate Mortgages
First
Time Buyer Mortgages
Fixed
Rate Mortgages
Group
Mortgages UK
Interest
Only Mortgages
Investment Mortgages
ISA
Mortgages - UK
Part
and Part Mortgages
Pension
Mortgages
Prime
Mortgages
Repayment
mortgages
Shared
Ownership Mortgages
Standard
Variable rate
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Read more about Types of Mortgages
See contents of Full Mortgages Guide
See contents of Home Buyers Guide
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