Cashback offers may not lead to best mortgage deal

If you are in the mortgage market, there are four categories; first time buyer, non-first time buyer, investor (buy-to-let), or a switcher. Different rules and criteria apply for for each.

If you are in the mortgage market, there are four categories; first-time buyer, non-first time buyer, investor (buy-to-let), or a switcher. Different rules and criteria apply for each.

Most of the current market is made up of first-time buyers. They are in a privileged position over non-first timers as they only have to find a 10% deposit whilst for second-time buyers, it is 20% of the purchase price.