Tailored rates with firstmortgage.co.uk
First Mortgage is a totally impartial broker, scouring the whole of the market for the best capped mortgage deals. Call us now on 0845 603 1525 to talk to one of our experienced, friendly team about your circumstances and what we can do to help.
Capped rate mortgages are guaranteed not to exceed a certain interest rate (usually for a period of one or two years). After this period, the mortgage will return to a fixed or standard variable rate.
Is a capped mortgage deal right for you?
There are lots of advantages and disadvantages to capped deals, but before you make a decision it’s worth considering the following features:
When interest rates increase, your rates won’t rise above a certain amount
However, if rates fall, you can still enjoy lower payments
It’s easier to budget, as you know how much your monthly repayments will be
Rates are competitive, but may be slightly higher than standard repayment or fixed offers
Check your deal for early switch or repayment penalties
The capped rate only lasts for a certain period (often 2-3 years), then your arrangement usually returns to the lenders SVR (standard variable rate)
Call us on 0845 603 1525 for more information and assistance. Our friendly team are happy to answer your questions and advise you on the best capped mortgage deals.
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