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Capped
rate mortgages UK |
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The interest
charges on UK capped rate mortgage have a set maximum limit to the for a period
of time. This length of time can range from one to five years, and precludes interest
rates from going through the roof if the bank rate does goes up. Capped rate mortgages
UK can offer a useful combination of features to the homebuyer, but deals like
this are becoming less readily available today. Also, administration charges are
common with this type of mortgage, which can run up to hundreds of pounds. Watch
out for this if a capped rate mortgage sounds like the deal for you. At the day
lenders are there to make a profit.• Variable
rate
• Fixed rate
• Discount rate
• Capped rate |
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