Different lenders have incentives like 3% cashback offers on mortgages for first-time buyers which could be a welcome bonus for cash-strapped buyers. Others offer to pay the cost of your legal fees.

Cashback offers are attractive because they give you money in the short term. But they might not make financial sense in the long term if you look at how much the mortgage will cost you overall. The lenders that have these special offers often have higher interest rates, so it’s important to look at the interest rate they are offering.

Make sure you look beyond the incentive to see what’s really on offer in terms of interest rates and lending terms. Don’t let short-term gains distract you or you could end up paying more in the long term.