Usual issue, no one mentions the critical info the amount being borrowed which is critical in analysing any fee/no fee deal. Along with planned payment that determines the break even over the fixed term
No worries, this 215 is additional to that 250 which is paid directly to you from the lender, it comes from the broker sharing part of his 470 quid commission from the lender with you
I never knew that and didn’t even think there would be cash back through topcashback! For my mortgage amount it would be £215. The lender I’m potentially using through the broker is offering £250 cash back at this moment so not too different. Might contact the other guys and see what rate they could get though. Thanks for the heads up
Plenty of mortgage brokers are not only fee free now but even offer you a share of that 470 quid! EG https://www.topcashback.co.uk/cashback-remortgages/ (not in any way affiliated other than using them and having a great experience with them last year) On the other side I think plenty of people still subscribe to the view that paying more automatically means the product is better, or are naturally suspicious of any free service, so maybe that's their thinking...
They are essentially equivalent to the sort of deals Three and Virgin Media did. 1/2 price for 6 months then full whack for the rest of the 18 months.