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£500 cash back on mortgage for first time buyers with Halifax
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£500 cash back on mortgage for first time buyers with Halifax

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Posted 6th Mar

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Make sure you do your sums, £500 might sound great but you may find the rates are better elsewhere and save you more over the lifetime.
38 Comments
This is a great deal, you should work for HUKD
Make sure you do your sums, £500 might sound great but you may find the rates are better elsewhere and save you more over the lifetime.
You'll get more using a broker too.
eslick06/03/2019 15:54

Make sure you do your sums, £500 might sound great but you may find the …Make sure you do your sums, £500 might sound great but you may find the rates are better elsewhere and save you more over the lifetime.


I think there are online calculators, that take cashback into account, MSE perhaps?
Compare the overall deal to other providers: the interest rate (most important!), the product fee, account fee, inspection fee, lock in period, overpayment terms and conditions etc....
pablomalin06/03/2019 15:56

I think there are online calculators, that take cashback into account, MSE …I think there are online calculators, that take cashback into account, MSE perhaps?


Can you link it please?
Was a first time buyer back in 2016, went with Halifax for 2 years fixed and they had that £500 cash back so don't really think it is a new offer
ms8451 s ago

Was a first time buyer back in 2016, went with Halifax for 2 years fixed …Was a first time buyer back in 2016, went with Halifax for 2 years fixed and they had that £500 cash back so don't really think it is a new offer


So did i in 2015 i'm just sharing for people that might not know
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deleted1565520
Make sure you use a ‘whole of market’ financial advisor or mortgage broker.
£500 cashback, lowest interest rates in a decade, zero stamp duty. First time buyers have never had it so good (excluding the fact house prices have risen....not much we can about that now).
deleted15655206th Mar

Make sure you use a ‘whole of market’ financial advisor or mortgage broker.


Also one that doesn’t charge an brokerage fee. It’s really unnecessary as the broker will earn £1500/£2500 for placing you alone.
Yeah, check everrrrrrrrrything, if you get stung with a bad rate 'Because they are your friend' the cashback pales into insignificance

I had an introductory rate but when if finished it doubled+£100. I cried.
Edited by: "hamsterboy" 6th Mar
Worth shopping around as other lenders offer cashback too e.g. Santander offer £1000 cashback with some mortgages and Danske Bank (NI customers) offer up to £1500. Just check rates, product fees etc. obviously.
Not always available, especially through brokers.
Also consider the product fees. Not always worth it if the product fee is £999. The small change in interest calculated over 2 years probably won’t save you. Do your sums, don’t let this rope you in
This isn't hot, they always have a cashback deal between £500-£1000. As do a lot of lenders. Halifax's rates are rubbish at the moment too. Voted cold.
Don't go by cash back offers some times it's best to look at ones that offer no cash back with better rates or even slightly higher rates that still give you a better deal with out the cash back
Do your research, go direct to a mortgage provider. Don’t bother with a broker (unless your circumstances are complex). Don’t forget to get a help to buy isa too (even if you are buying soon).
Whilst halifax might not be lowest rate this could be a good deal as many FTBs need cash upfront/in the bank for all the initial moving in costs rather than worrying about saving £10-£20 per month.
Once your initial term has finished shop around and move mortgage elsewhere if needed
Halifax are also one of the least fussy mortgage lenders. Had nightmare getting mortgage as my wife's income varied so much month-to-month, but Halifax were brilliant with us. £500 arrived on day of completion too
I have been looking at Halifax mortgages for a few weeks and never came across any mention of this offer on their website... Anyone actually seen it recently?
They have had cash back offers permanently on for the last 3+ years...amount varies between £250 and £1000.
Oops, pressed cold by mistake. Sorry OP.
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deleted41359
The first mortgage I had in 1997 had a 5% cashback. It was £63k with 5% deposit. Detached, 4 bedrooms and garage.
Borrowed the deposit from family and paid it back when I got the cashback. Plus the difference.
Those were the days.
Interest rate was nearly 6% back then though.
No idea how people afford it now.
Kamaya4 h, 19 m ago

Halifax are also one of the least fussy mortgage lenders. Had nightmare …Halifax are also one of the least fussy mortgage lenders. Had nightmare getting mortgage as my wife's income varied so much month-to-month, but Halifax were brilliant with us. £500 arrived on day of completion too



Same experience but was bonus and not basic pay. They were the only option we could go with. Where first time buyers. No cash back but rate was good for the deposit level
ms8411 h, 17 m ago

Was a first time buyer back in 2016, went with Halifax for 2 years fixed …Was a first time buyer back in 2016, went with Halifax for 2 years fixed and they had that £500 cash back so don't really think it is a new offer


Good for you
JPS06/03/2019 16:20

£500 cashback, lowest interest rates in a decade, zero stamp duty. First …£500 cashback, lowest interest rates in a decade, zero stamp duty. First time buyers have never had it so good (excluding the fact house prices have risen....not much we can about that now).



prices will go down after brexit
Am I the only one who can't find the deal on the website ? There's a £500 cashback for remortages, havn't seen one for FTB.
deleted156552006/03/2019 16:16

Make sure you use a ‘whole of market’ financial advisor or mortgage broker.


I tried two, both offered me terrible deals and one of them said I could only use about 8 mortgage providers because I was bankrupt many years ago. I went with HSBC (who the broker said wouldn't touch me) and saved thousands. I'd say use brokers but don't necessarily trust them.
ChosenOne897 h, 50 m ago

prices will go down after brexit


Not necessarily, it’s the uncertainty which is causing the housing market to be slow. Once the outcome is known it should stabilise and prices could go up, down or stay roughly the same, the pound against the Euro increased last week against everyone’s predictions.
Nationwide offers 500£ too.
JPS19 h, 46 m ago

£500 cashback, lowest interest rates in a decade, zero stamp duty. First …£500 cashback, lowest interest rates in a decade, zero stamp duty. First time buyers have never had it so good (excluding the fact house prices have risen....not much we can about that now).


Never had it so good? You must be joking.
Got approved for a mortgage a couple of months ago with exchanging contracts the other week. House not ready till June. Do I still qualify?
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deleted1565520
Opeteo1 h, 30 m ago

I tried two, both offered me terrible deals and one of them said I could …I tried two, both offered me terrible deals and one of them said I could only use about 8 mortgage providers because I was bankrupt many years ago. I went with HSBC (who the broker said wouldn't touch me) and saved thousands. I'd say use brokers but don't necessarily trust them.



Are you sure they were whole of market advisors? I met my advisor through a personal recommendation, I've bought 4 houses in the last 10 years using his services. One national estate agent insisted we use their "independent" (I say this cynically) mortgage advisor, who conveniently has an office within the Estate Agency... this advisor could only find 5 mortgage products for us, as opposed to the tens and tens of products my advisor had access too, not surprisingly the decision in principle we already was a far superior financial product and the Estate Agent advisor admitted they had been a complete waste of our time and they "couldn't come close" to the deal we already had.

Also, I have had mortgage appointments with my own bank, Lloyds (who also own Halifax) and the competitiveness of their products were abysmal.

Lastly, if you find yourself a great whole of market mortgage/ financial advisor, they will speak to lenders and underwriters on your behalf to discuss anything that doesn't quite fit standard tick box online forms.

This is my experience, I'm sure others have had different experiences to mine.
Don't see this anywhere, how do you get it????
eslick21 h, 45 m ago

Make sure you do your sums, £500 might sound great but you may find the …Make sure you do your sums, £500 might sound great but you may find the rates are better elsewhere and save you more over the lifetime.


Exactly this. We got ours with Halifax as even though the rate was slightly higher, they paid our stamp duty. Been with them ever since due to them now constantly offering the best rates.
This is also on for remortgaging as well.
MSE reckons they are my best option before two smaller banks/building societys I've never heard off.
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