Halifax Intermediaries has reintroduced its cashback offer for first-time buyers and home movers.
From today (10 September) until 4 November, borrowers receive £1,000 cashback on a first-time or home move purchase - with a £250 cashback offer available to customers remortgaging from another lender.
Halifax Intermediaries’ previous cashback offer ran from April to June this year.
Ian Wilson, head of Halifax Intermediaries, said cashback offers were part of the lender’s ongoing commitment to the intermediary market.
He said: "We are committed to being there for our customers when they need us most and making it as easy as possible for brokers to do business with us.
"We have brought back the £1,000 cashback to help first-time buyers and home movers with the costs of buying and moving into a new home."
Nick Morrey, product technical manager at mortgage broker John Charcol, said it was not unusual for lenders to produce "new" offers for the autumn in anticipation of increased activity from people looking to move before Christmas.
He said: "The idea of suddenly producing a product with £1,000 cashback is technically often a gimmick in that lenders do not tend to give money away - but, to be fair to Halifax, their cashback products seem to be better than the majority of other lenders' £1,000 cashback deals."
Mr Morrey said the bigger the loan, the more the interest rate becomes the leading decision factor on a mortgage, especially as product fees are often added to the mortgage.
He added: "This is often true for first time buyers who are looking to buy their first home and need a few bits and pieces to furnish it - in which case £1,000 cashback can be a serious consideration compared to an extra £5 a month on the mortgage deal."
rachel.addison@ft.com
