Capped Rate Mortgages
Capped Rate Mortgages Explained...
Capped rate mortgage products are similar to variable rate mortgages with a cap to stop it raising above a particular rate.
This is ideal for budget conscious home buyers as you will know that your mortgage will not raise above a certain level. But the benefit is, that should the rate go down then it will be passed on.
Many mortgage lenders have removed or stopped the Capped Rate Mortgages.
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