The Cashback mortgage offers a cash lump sum ranging between 3.5% - 7.5% of the amount borrowed - subject to a maximum of £15K - and is payable upon completion of the loan. The interest rate will be C&G's Standard Variable Mortgage Rate - currently 5.50% - and early repayment charges will apply on a sliding scale over five years.
Nick Hale, C&G sales director commented. "The re-introduction of the Cashback mortgage is in response to growing demand for this kind of product and represents a further addition to our comprehensive range of mortgages. We remain committed to delivering good value and choice for customers and we think that this reintroduction of an old favourite will be well received."
