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A Capped Rate Mortgage is considered to offer all the benefits of the fixed rate and discounted rate mortgages.
As with a Fixed Rate Mortgage, you have the reassurance of knowing that the interest rate will never rise above a pre-set rate, known as the ‘Cap’.
This maximum interest rate is set over a fixed period of time, thus protecting you if the interest rate rises. If the interest rate falls below the capped rate then you benefit from this reduction as your rate will fall in line with it.
However, the interest rate you’ll be expected to pay can often be higher than with a fixed or discounted rate mortgage, but they can still be a good option for those who need to know their outgoings, but would still like to benefit should the interest rate fall.
If you would like more information about this or any other mortgage product offered by Cook Allen & Associates, please call 0845 257 9301, or complete our brief questionnaire and one of our qualified mortgage advisers will get in touch to discuss you mortgage requirements. |
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We Can Help |
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Re-Mortgage your existing home |
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Even if you have poor past credit or you are working as a self employed person |
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Provide you with a Mortgage for your Home |
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Provide you with a Mortgage for Commercial use |
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If you are facing financial difficulties |
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Buy your council property at a discount |
0845 257 9301 |
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