Capped Rate Mortgage
A capped rate mortgage is very similar to a fixed rate mortgage. The difference is that if the variable rate drops below the capped rate, the borrower will make mortgage payments based on the lower variable rate. If the interest rates increase over the capped rate, the payments will not exceed the capped rate.
Capped Rate Mortgage Repayments
So, in a nutshell, as the interest rates rise or fall, so do your capped rate mortgage repayments, but your mortgage repayments will never go over the set ceiling rate, agreed with your mortgage lender.
Enquire for a Capped Rate Mortgage
If you would like to own your own property and are interested in a capped rate mortgage, then please click the enquire now button and fill out the form. It takes only a few minutes of your time and you are under no obligation. What have you go to lose? Enquire now.
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THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Champion Financial Services is a trading style of Rafik Allana of 16b Second Avenue, Hendon, London. NW4 2RN.
Champion Financial Services is an Appointed Representative of Mortgage Next Network Limited, which is authorised and regulated by the Financial Services Authority in respect of mortgage and insurance mediation activities only. Mortgage Next Network Limited is entered on the FSA register (http://www.fsa.gov.uk) under reference 300866.
We do not charge a fee for any initial quotation. There may be a fee for mortgage advice. The precise amount will depend upon your circumstances but we estimate that it will be 1.5% of the loan amount, this fee will be payable on completion.
The overall cost comparison is 6.8% APR. The actual rate available will depend upon your circumstances. Ask for a personalised illustration.