You can find a way to make money out of remortgaging on top of any monthly savings that you will make. Cash back websites can give you this opportunity and so it is worth looking in to them.
A cash back website will give you a payment if you sign up to certain deals, shop online and things like that. Many of them will give you money if you take out products with certain financial institutions and a mortgage would be included in this.
There are a selection of cash back websites on the Internet. It is worth having a look at them and comparing them. Some of them will take a chunk of the cash back for every thing you earn from and others will charge you a lump sum each year. They can be well worth using for all online purchases, all you have to do is to visit the site first, click through the link on the site to the place you want to shop from and you will earn cash back on your purchase. If you shop online a lot then it is well worth it because the savings will really add up. So take a look at the options available and see which you think will be the best for you. It is important to make sure that you check the terms and conditions as you will need to work with the site in a certain way in order to make sure that you get paid.
It is possible that you might get a lump sum if you change mortgage company. If you stay with your lender, then it is unlikely that you will be able to get any cash back, because you will just organise your change through them, rather than reapplying.
It may seem like a lot of hassle, to look for a cash back site as well as a new mortgage. However, the cash back earned can be really worth it.
Do not confuse this with a cash back mortgage. This is when the lender will give you some extra money so that you can have a lump sum. This can be an expensive way to borrow money because you will be paying it back over a long term and so beware of doing this and make sure that it will pay off for you, before you apply.