Santander has announced that eligible customers will receive £150 deposited into their bank accounts. In emails sent this week, the bank outlined its My First Mortgage scheme, which allows individuals to purchase their first property with a £10,000 deposit.
How to get the £150 cashback
Santander noted that relatives and friends can gift the deposit. The bank also highlighted the importance of protecting what customers have worked for, offering life insurance so that a mortgage could be paid off if the unexpected happens.
Customers who hold a Santander mortgage and arrange life insurance with the bank will obtain £150 cashback. Santander clarified that the offer can be terminated at any point, and the cashback is transferred into the account 280 days after the policy has been arranged, provided it hasn't been cancelled.
"The cashback will only be paid once per customer and on one policy only."
Different amounts for different customers
Santander Select customers and those with a current account from the Santander Edge range will also receive £150 cashback when arranging life insurance with Santander. All other customers will receive £100 cashback, Santander confirmed.
