The offer applies to all valuation fees paid on or after 1 December 2021, where the loan completed before or on 28 February 2022.

It is available across the Castle Trust Bank product range, and on most loans.

Rob Oliver, sales director at Castle Trust Bank, said: “We’re really pleased to be able to offer this valuation cashback which gives brokers and their clients reason to celebrate as we close 2021 and enter 2022.

“A good example of the amount that could be saved is a recent £3m completion, where the valuation fee was £3,250 plus VAT.

“The cashback of up to £5,000 plus VAT will mean that most customers who pay their fees from today and complete by the end of February, will not have to pay a valuation fee.

“Feedback from brokers tells us that valuation cashbacks offer a bigger benefit than free valuations as they enable greater freedom to choose a surveyor, which is particularly important in the current environment where there have been reports of delays with some firms.

“It’s further demonstration of our understanding of what brokers want and commitment to supporting our intermediaries, building on our rate reductions earlier this year and our recent criteria enhancements, which included lending to first-time buyers.”