Cash Back Mortgage

Business, Legal & Accounting Glossary

Definition: Cash Back Mortgage



Full Definition of Cash Back Mortgage


A Cash Back mortgage does what it says on the tin! On completion of the mortgage, your lender will pay a percentage of the amount borrowed ‘back’ to you as a lump sum. The higher the cashback sum paid, the greater and more complex the number of strings likely to be attached to the mortgage.

You may be faced with high redemption penalties over several years should you wish to consider redeeming the mortgage early. You may also be offered a less competitive interest rate than is available elsewhere.

Be aware also that a cashback payment could, potentially, have implications for capital gains tax purposes.


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Cash Back Mortgage. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. December 01, 2020 https://payrollheaven.com/define/cash-back-mortgage/.
Chicago Manual of Style (CMS):
Cash Back Mortgage. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/cash-back-mortgage/ (accessed: December 01, 2020).
American Psychological Association (APA):
Cash Back Mortgage. PayrollHeaven.com. Retrieved December 01, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/cash-back-mortgage/

Definition Sources


Definitions for Cash Back Mortgage are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 15th February, 2020 | 0 Views.