gavin18787
Premium Member
Registered: 22nd Feb 05
Location: Basildon, Essex
User status: Offline
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So if you ask for cashback at a till in a supermarket you get cash like if you go to a cash machine.
But im in the process of taking out a mortgage and one of the benifits is £250 cash back on conpletion. is this something different?
Sorry for sounding dumb 
Drives supercharged Tec with torque  
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thegsi
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Registered: 3rd Feb 07
Location: Kidderminster Drives: Evo (you can't afford one)
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Yeh exactly. If you buy something for £3.44 and have £10 cash back, they give you the cash out the till and you get £13.44 debited from your account.
Edit: Cash back on your mortgage will probably be something different? Maybe a £250 discount on your mortgage over 200 years or something daft lol
[Edited on 09-05-2012 by thegsi]
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willay
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Organiser: South East, National Events
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Registered: 10th Nov 02
Location: Roydon, Essex
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£250 discount basically.
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C2RL R
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Registered: 28th Mar 02
Location: Redcliffe, QLD
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Haha how can someone old enough to get a mortgage not know what supermarket cash back is?
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Matt L
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Registered: 17th Apr 06
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cash back if you ask in a supermarket is as thegsi said... you pay off your card and get the cash (same as cash point).
cash back on purchases (eg credit card) = you get a % of the purchase price (ie purchase something for £10 you get £0.10 back when you pay the balance off), so you pay £10 and then get £0.10 back in your account).
cash back on the mortgage will be once you have signed up and its all completed they will send a cheque for £250 back to you (basically discount but they still charge you more and then send the cash back to you in 3 months time).
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SXI - Matt
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Registered: 8th Jul 07
Location: Leicestershire Drives: Corsa C SRI
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he knows what super market cash back is as he's describing it at the top, the questions about mortgage cash back which is completely different
And as Matt l said we had a similar offer sounds good but you still pay some were down the line for it
[Edited on 09-05-2012 by SXI - Matt]
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Online
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Might be a gift, might be on the borrowing.
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C2RL R
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Registered: 28th Mar 02
Location: Redcliffe, QLD
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i barely read his post in my drunken state!
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AlunJ
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Registered: 3rd Apr 07
Location: Newport
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I got £250 in John Lewis vouchers from Bovis
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Sam
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Premium Member
Registered: 24th Dec 99
Location: West Midlands
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In our case we didn't get any physical cash back, it was just a discount on the mortgage.
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Russ
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Registered: 14th Mar 04
Location: Armchair
User status: Offline
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quote:
Originally posted by Sam
In our case we didn't get any physical cash back, it was just a discount on the mortgage.
so you got nothing
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gavin18787
Premium Member
Registered: 22nd Feb 05
Location: Basildon, Essex
User status: Offline
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Ok ta and yer im not that bad I do know what supermarket cash back is 
Just thought this cant be the same as its a bit pointless. Equired about it again today and I essentially get a cheque sent to my solicitor on completion. Dont see why I dont just get money off the fees in the first place 
Drives supercharged Tec with torque
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mattk
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Registered: 27th Feb 06
Location: St. Helens
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you get a cheque in the post for £250 when its all done. I did with Natwest
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Sam
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Registered: 24th Dec 99
Location: West Midlands
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quote:
Originally posted by Russ
quote:
Originally posted by Sam
In our case we didn't get any physical cash back, it was just a discount on the mortgage.
so you got nothing
I hardly think £250 is "nothing".
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SXI - Matt
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Registered: 8th Jul 07
Location: Leicestershire Drives: Corsa C SRI
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Not noticeable on a 100k+ mortagage though won't make a difference to monthly payments ect so tbf is pretty much nothing, if you got a cheque to spend on stuff or off of solicitor fees would be better which some companys do, other wise think its bit of a gimmick tbf
[Edited on 10-05-2012 by SXI - Matt]
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Mertin
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Registered: 12th Oct 05
Location: Scotland
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I got £250 aswell but this then covers the brokers fee's (I think, cant remember exactly what fee's it was)
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craig8
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Registered: 31st Dec 04
Location: Glasgow
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We had £500 cash back on completion, got a cheque for it through the door with a welcome letter pretty quickly
E36 328
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Russ
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Registered: 14th Mar 04
Location: Armchair
User status: Offline
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quote:
Originally posted by Sam
quote:
Originally posted by Russ
quote:
Originally posted by Sam
In our case we didn't get any physical cash back, it was just a discount on the mortgage.
so you got nothing
I hardly think £250 is "nothing".
so they knocked £250 off the thousands upon thousands you will pay them interest and you never actually got the money in your hand?
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gavin18787
Premium Member
Registered: 22nd Feb 05
Location: Basildon, Essex
User status: Offline
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Im happy with £250 conpared to nothing. thats a good chunk towards a new tv :-)
Drives supercharged Tec with torque
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