Capped Rate Mortgages
How they work
A capped rate mortgage sets a maximum interest rate figure that you will pay, over an agreed period. This is typically from one year to five years although it can be longer.Should interest rates rise substantially beyond the agreed figure, you need not worry as you will only pay at the capped figure set. And should interest rates fall, you receive the benefit by paying at the prevailing rate only if it is below your capped rate. The period that the rate is capped for depends on the lender and the products available. Once we have received your application we will let you know the best capped rate deals in the current market. This type of mortgage has become more popular in the UK since the 1980s and the years of very high interest rates. For borrowers it provides a reasonable safety net whilst allowing them to benefit in the good times when interest rates are low, like today. Free quotationWe offer competitive rates for all applicants, including those with ccjs, arrears, defaults, the self employed and people with no proof of income. To calculate possible repayments use our mortgage calculatorFor you free quotation without obligation click below Capped Rate Mortgage Enquiry Form Once we have received your details, we will search our bank of lenders for the top capped rate deals for your particular circumstances. It is then up to you to decide which option you would like to pursue. If you would rather contact us by phone, we offer a local rate phone service during office hours - call 01159 878 100, quoting the MortgageFinda website.
Other options
You might like to consider fixed rate mortgages or flexible mortgages as an alternative to a capped rate mortgage. Each type of mortgage has its own particular benefits and might suit your particular circumstances better.Get in touch with us and we'll give you advice and answer any of your questions as appropriate.
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