The number of money-back mortgages available to consumers has plummeted by a staggering 82% in the last six months, according to a study conducted by CashbackRemortgages.co.uk.
The research comes as CashbackRemortgages.co.uk research revealed that if UK homeowners had used specialist remortgaging brokers, who halve their fees with clients, they would have been entitled to a share of £181m.
This means that savvy consumers who utilise these brokers will get double returns by receiving both the cashback incentive from the lender and the remuneration share of the broker’s procurement fee.
However, despite the number of reimbursement products falling, the average cashback amount has risen by over £100 since last year. The average amount available on cashback is now £467, a rise of £101 since May 2017.
Commenting, CashbackRemortgages.co.uk founder Suchit Sethi said: “With only 4% of mortgage market products offering cashback, consumers need to wake up and realise they can get money for nothing by using a cashback broker.
“You would not rest on your laurels if you were overpaying for energy and phone products and yet, with one of the most important investments you can make, it’s mad to think that people are essentially throwing away free money.
"More people are remortgaging due to the uncertainty surrounding Brexit, and by using a cashback broker they are doubling their money in some cases. It is money for nothing and in the present climate people cannot afford to be throwing away these incentives.”
Latest News
NEW BUILD IN FOCUS - NEW EPISODE OF THE MORTGAGE INSIDER PODCAST, OUT NOW
Figures from the National House-Building Council saw Q1 2025 register a 36% increase in new homes built across the UK compared with the same period last year, representing a striking development for the first-time buyer market. But with the higher cost of building, ongoing planning challenges and new and changing regulations, how sustainable is this growth? And what does it mean for brokers?
The role of the bridging market and technology usage in the industry
Content editor, Dan McGrath, sat down with chief operating officer at Black & White Bridging, Damien Druce, and head of development finance at Empire Global Finance, Pete Williams, to explore the role of the bridging sector, the role of AI across the industry and how the property market has fared in the Labour Government’s first year in office.
Does the North-South divide still exist in the UK housing market?
What do the most expensive parts of the country reveal about shifting demand? And why is the Manchester housing market now outperforming many southern counterparts?
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
The new episode of The Mortgage Insider podcast, out now
Regional housing markets now matter more than ever. While London and the Southeast still tend to dominate the headlines from a house price and affordability perspective, much of the growth in rental yields and buyer demand is coming from other parts of the UK.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories