Breaking News
The more you borrow, the more you earn with new cashback mortgages
MPowered Mortgages, the prime residential mortgage lender using technology to speed up the mortgage process, has today launched cashback of 0.30% on all loan sizes up to £1.5 million. Unlike the majority of mortgage products on the market which offer fixed cashback on completion, with this product the more you borrow the more you earn in cashback up to £4,500.
Starting at just 4.28% at 75% LTV, the five-year fixed rate comes with a £999 arrangement fee. At 80% LTV the rate is 4.38%.
Additionally, should borrowers decide to pay the mortgage early, MPowered Mortgages will not claw back cashback at any stage during the fixed rate period.
Stuart Cheetham, CEO at MPowered Mortgages comments:
“We are excited to be the only mortgage lender to offer cashback as a percentage of the loan size. We anticipate this will be particularly attractive to Londoners and those in the South who generally have higher loan sizes than the rest of the UK.
“When borrowers day-to-day expenses are rising, a percentage cashback product should enable borrowers to overcome some of the additional costs of moving home as the cashback back payment is paid to the customer as soon as they complete on the mortgage.”
People In This Post
Companies In This Post
- Visa Acceptance Platform Now Supports Tap to Pay on iPhone, Boosting Contactless Acceptance for Merchants Read more
- How Google Is Helping Fintechs Navigate Regulation and Innovation Read more
- DataHaven on What Truly Defines a Real Insurance Technology Partner Read more
- Basware Appoints New Chief Marketing Officer Read more
- How Hiring the Right Services Can Streamline Your Business Read more

