Unfortunately, this deal is no longer available
£500 Cashback for First Time Buyers then Mortgage Genie TCB for more £££
503° Expired

£500 Cashback for First Time Buyers then Mortgage Genie TCB for more £££

21
Posted 26th JanEdited by:"rambo_or_mark"

This deal is expired. Here are some options that might interest you:

Not too many deals on mortgages for first time buyers on HUKD so here is what I found.

Nationwide is very competitive for 5% (95% LTV) deposit and the best I found for 10% (90% LTV).

Any first time buyer with Nationwide gets £500 cashback - I asked if you still get the cashback if you use a broker - "Yes, I checked with my manager".

Mortgage Genie on Quidco and TopCashBack offer Nationwide as one of their providers. Both Quidco and TCB offer same rates of cashback.
They have a tiered scheme for the bigger your mortgage the more cashback etc.
Example: Borrowing £400k-449k gets you an extra £495 cashback.

This becomes £4 for the Nationwide Fixed Rate Mortgage WITH a fee (Always £999).
Compared to the free setup Nationwide fixed rate mortgages, the upfront fee ones seem to be £500-£1000 a year cheaper (within a £250-500k buy range as shown on their website when you compare their different mortgage products).
Of course you initially you still need to give them £999 fee but most if not all will be returned to you via cashback.
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21 Comments
Pretty good, also some offers on Cashback at TopCashBack (and I think Quidco) but it’s all luck to get it back really.
darkfrost126/01/2020 13:33

Pretty good, also some offers on Cashback at TopCashBack (and I think …Pretty good, also some offers on Cashback at TopCashBack (and I think Quidco) but it’s all luck to get it back really.


That's what the middle paragraph is about :P
'any first time buyer with nationwide'

Is that nationwide offer for first-time buyers, or any buyer with their first nationwide mortgage?

N'mind - just read the short print - anyone who hasn't had any mortgage in the last 3 years.
Edited by: "tapi" 26th Jan
nationwide are pretty strixt when it comes to lending which is ashame for some
Edited by: "Jony5deals" 26th Jan
Jony5deals26/01/2020 14:05

nationwide are pretty strixt when it comes to lending which is ashame for …nationwide are pretty strixt when it comes to lending which is ashame for some


Which banks would you say are not strict?
When I took out a mortgage with Nationwide, I think they counted me as a 1st time buyer although I'd had a shared ownership place 5+ years ago. The cashback from Nationwide last year was only if you didn't go through a broker, though (I remember, as I chose not to use an otherwise v helpful broker because I got £500 for taking out my Nationwide mortgage direct through Nationwide rather than through the broker).

On most mortgages, even £1k cashback will be worth less than even a fairly small difference in rates. When I was shopping round Nationwide were the best interest rate I could find though
Brumfortune26/01/2020 14:54

Which banks would you say are not strict?


Halifax are definitely more relaxed.
Brumfortune26/01/2020 14:54

Which banks would you say are not strict?


Having worked for a bank, I'd say there's no such thing as a less stricter lender than another.
They are all required to perform a prescribed level of due diligence and stress testing on customers. However banks will target a segment for their customers.
So bank A may want professionals with combined income no less than 45k. Whereas bank B may be happy with working couples on combined income of 35k.
Therfore a bank may appear strict if they turn you down, but actually you don't meet their criteria on which they're lending at that time.
Edited by: "acc" 26th Jan
Beware, terrible service from this lot. Have absolutely no idea what they are doing. Speaking from experience.
acc26/01/2020 17:08

Having worked for a bank, I'd say there's no such thing as a less stricter …Having worked for a bank, I'd say there's no such thing as a less stricter lender than another.They are all required to perform a prescribed level of due diligence and stress testing on customers. However banks will target a segment for their customers.So bank A may want professionals with combined income no less than 45k. Whereas bank B may be happy with working couples on combined income of 35k.Therfore a bank may appear strict if they turn you down, but actually you don't meet their criteria on which they're lending at that time.


Not necessarily. Some lenders will request three months of bank statements and go over every penny you have spent in detail. Yet others aren't interested in seeing even one statement as they use a general spending average, amongst other more relaxed approaches. Some are just more risk-averse than others. However the less risk-averse ones are likely to have much higher interest rates so it's a Catch-22. It's why you're better of going through an independent broker who uses their past experiences to match you with the right lender.
Edited by: "SE43" 26th Jan
I took out this £500 cashback via nationwide 2 years ago. Was found via a broker (who took £300 charge no less.)

It was a 5 year fix at 1.99% and all fees, valuations etc were free.
daydreamer0126/01/2020 17:19

Beware, terrible service from this lot. Have absolutely no idea what they …Beware, terrible service from this lot. Have absolutely no idea what they are doing. Speaking from experience.


Could you expand please?
thanks for the post
andisitadeal26/01/2020 15:03

When I took out a mortgage with Nationwide, I think they counted me as a …When I took out a mortgage with Nationwide, I think they counted me as a 1st time buyer although I'd had a shared ownership place 5+ years ago. The cashback from Nationwide last year was only if you didn't go through a broker, though (I remember, as I chose not to use an otherwise v helpful broker because I got £500 for taking out my Nationwide mortgage direct through Nationwide rather than through the broker).On most mortgages, even £1k cashback will be worth less than even a fairly small difference in rates. When I was shopping round Nationwide were the best interest rate I could find though


This is why I called to confirm I would still get £500 from Nationwide if I used the broker. I don't completely believe them until I get it but the lady on the phone in customer service went to ask her manager because she didn't know. Perhaps I should've got it in writing, but I don't currently bank with them.
Been with Nationwide since I bought my place in 2011. No issues with them at all. HSBC turned me down initially, Nationwide accepted me..
Did you get 1.99% for 90% LTV? Do you know if broker always finds a better deal? Is it worth giving them £300?
Flappybunnyman27/01/2020 00:00

I took out this £500 cashback via nationwide 2 years ago. Was found via a …I took out this £500 cashback via nationwide 2 years ago. Was found via a broker (who took £300 charge no less.)It was a 5 year fix at 1.99% and all fees, valuations etc were free.

Edited by: "ab713" 27th Jan
ab71327/01/2020 21:58

Did you get 1.99% for 90% LTV? Do you know if broker always finds a better …Did you get 1.99% for 90% LTV? Do you know if broker always finds a better deal? Is it worth giving them £300?



1.99% for 50% LTV but rates are typically better now. The broker found the exact same deal as was on the nationwide website. In my case, no it wasn’t worth using the broker - but due to my first mortgage it was peace of mind I guess.
ab71327/01/2020 21:58

Did you get 1.99% for 90% LTV? Do you know if broker always finds a better …Did you get 1.99% for 90% LTV? Do you know if broker always finds a better deal? Is it worth giving them £300?


I've never seen a broker offer a better deal, in my limited experience. 1.84% with Nationwide on a Fixed 2yr with fee 90% LTV.
nationwide.co.uk/pro…tes
corrr they're better figures than 12 months ago when Carney was spouting about raising interest rates!
rambo_or_mark28/01/2020 12:06

I've never seen a broker offer a better deal, in my limited experience. …I've never seen a broker offer a better deal, in my limited experience. 1.84% with Nationwide on a Fixed 2yr with fee 90% LTV.https://www.nationwide.co.uk/products/mortgages/our-mortgage-rates


That would suggest you’ve used a poor broker. Top writing mortgage brokers almost always have exclusive rates with lenders that aren’t accessible by customers direct.
Grandi198930/01/2020 17:04

That would suggest you’ve used a poor broker. Top writing mortgage brokers …That would suggest you’ve used a poor broker. Top writing mortgage brokers almost always have exclusive rates with lenders that aren’t accessible by customers direct.


Awesome news. Who are the big firms? I’m an amateur at this plz help haha
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