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Capped Rate Mortgages - Best4U Kettering Northamptonshire

Capped rate mortgages are essentially a combination of a fixed rate mortgage and a variable rate mortgage. For a defined term, you are guaranteed not to pay above a fixed rate of interest on your mortgage. But at the same time, you will benefit if interest rates fall below this level.

Capped rate mortgages are obviously attractive if you suspect that interest rates may rise at some point. They are available for a wide range of terms, ranging from a few months to the length of the mortgage itself.

Capped mortgages are usually more expensive than their fixed rate counterparts. So, therefore if interest rates did not fall below the capped rate during the term, then you would have been better off with a fixed rate mortgage. There may also be redemption penalties attached to these products, so make sure you know what these are before committing to this type of mortgage. Capped mortgages also tend to have collars on them these days which means that they can not go below as set rate (usually 3%) aswell.

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

All loans are subject to status and disclosure. No fees are charged for insurances as per our FCA Disclosure Document

£50 upfront with £200 on application and £250 on completion.

Fees are by negotiation for clients with 4 or more properties.

Buy to let (pure) and commercial mortgages are not regulated by the Financial Conduct Authority.

Best 4 U Mortgages & Best 4 U Insurance’ is a trading name of Best 4 U Mortgages Ltd who are an appointed representative of Wyse Services Limited which is authorised and regulated by the Financial Conduct Authority No 492460.

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