Accord has doubled the amount of cashback on offer across its mortgage range in a boost for new buyers and remortgagors.
From today (20 April), all borrowers who opt for one of Accord’s 36 house purchase or remortgage home loans that include a cashback feature will receive a total of £500.
In addition, borrowers who choose any of the intermediary-only lender’s mortgages that come with free legal assistance will receive £250 cashback on completion.
Accord, which is a subsidiary of the Yorkshire Building Society, said the offer is available for “a limited time only”.
David Robinson, Accord’s National Intermediary Sales Manager, said: “Cashback features on mortgages are very popular with borrowers.
“Many people appreciate having a little extra money to use in whatever way will benefit them most - for example, putting it towards their moving costs, using it to buy furniture or even saving it for a rainy day.
“Under our initiative borrowers have a choice of up to 60 mortgages which offer an extra £250 cashback, so there are plenty of options to suit all budgets and circumstances.”
Tom Oliver, independent financial adviser at Newcastle-based Lamb and Associates, commented: “Cashback is a bonus to clients who are struggling to raise a deposit and having to find the money for legal fees, so it can be a positive as long as it does not increase the rate too much.
“It is a useful addition to a product where people are strapped for cash and it could push Accord up the competitiveness table.”
simon.allin@ft.com
