Halifax bank is offering a £750 incentive to mortgage borrowers who move their loan from a rival lender. The deal was introduced earlier this week, and the money will be made available on completion.
As part of its switcher package, Halifax said it would also pay standard valuation costs as well as basic legal fees, potentially saving customers £750.
Craig McKinlay, mortgages director at the Halifax, said: “People can often be put off remortgaging by thinking it’s a daunting process and they don’t have time to take that step.
"We are always working to find ways to help give customers extra and this new offer means homeowners can not only benefit from a dedicated mortgage adviser to guide them through the process, but also enjoy an extra £750 in the bank which could help make the summer a bit brighter.”
Halifax said the offer was available for a “limited time period”, but has yet to set a deadline for the end of the cashback incentive. The bank said that applicants could in theory get an agreement in principle on one of its mortgages in as little as 15 minutes – and this would not affect the borrower’s credit record.
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