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Mortgages

Capped Rate Mortgage


Capped rate mortgages are very similar to fixed rate mortgages, in so much as there is a maximum interest rate set for a given period of time. The rate you pay will not exceed this capped rate. In other words the rate you pay is capped at a certain level and despite interest rate rises the maximum amount you pay will be the capped rate.

Unlike fixed rate mortgages, however, should the interest rate fall below the rate that you have your mortgage capped at, the rate you pay will track the interest rate downwards reducing the amount you pay.

Pros and Cons


Capped rate mortgages provide you with the best of both worlds. They protect you from rises in interest rates, whilst allowing you to benefit from any falls in rates.

As with fixed rates, there are normally arrangement fees for this type of mortgage and sometime the amount of the fee can outweigh the benefits of having the capped rate. It is important to seek advice and this is where I can help. For more information and to find out whether a capped rate mortgage is right for you call me or fill in my online enquiry form.

YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE



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'A few of the lenders I contact to get the best deal for you'
Mortgage News
BBC News
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UK house prices started the new year with a slight decline - falling by 0.2% in January compared with the previous month, the Nationwide says.

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Disclaimer: All information contained in the above news articles, is for general information purposes only and should not be construed as advice under the Financial Services Act 1986.

The information on this website is for use of residents of the United Kingdom only. No representations are made as to whether the information is applicable or available in any other country which may have access to it.

The Mortgage Guy Ltd is an appointed representative of Openwork Limited, which is authorised and regulated by the Financial Services Authority.

The Mortgage Guy Ltd is registered in England and Wales - No.6089895
Registered Address 12 Colebrook Road, Plympton, Plymouth PL7 4AA.

Openwork Limited offers insurance and investment advice on products from a limited number of product providers and advice on mortgages representative of the whole market.