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Mortgage Glossary

Below is an A-Z glossary of general terms used within the mortgage industry. Click on any term to view a detailed explanation. Use the alphabet below to navigate quickly to a term beginning with:

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Cash Back

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A type of mortgage that offers a cash lump sum back to the borrower on taking out the mortgage. Cash back mortgages are ideal for first time buyers who may require the cash to pay for furnishings or legal fees. It should be noted that the interest rates on cash back mortgages are generally higher and therefore not cost effective over the life of the mortgage.

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