Capped Mortgages
Capped Mortgages are a combination of Fixed Rate and Discount Rate Mortgages and have some attractive features for buyers.
Capped Mortgages have interest rates agreed for a set period, but if the Standard Variable Rate (SVR) drops below that rate, you get to pay the lower amount. If rates go up, you are protected against having to pay the higher rate, because it has been limited or "capped".
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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
The above mortgage detail is for information purposes only as does not constitute financial advice under the Financial Services and Markets Act 2000.