Capped Rate Mortgage

A Variable Rate Mortgage with a Capped Maximum Interest Rate

The interest rate charged could be the standard variable rate or the standard variable rate less a discount. The rate charged may vary but will not go above a specified rate - the capped rate.

Capped rates can be with or without a tie in. A capped rate with a tie in means you are obliged to stay with the same lender for a period of time after the capped rate has ended, normally on the higher standard variable rate. If you decide to move lender within the capped rate or tie in period an early redemption charge will probably apply. A capped rate with no tie in means you are free to move lender at the end of the capped rate period.

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Your home may be repossessed if you do not keep up repayments on your mortgage. Memigo Money provides information but does not sell or provide advice on mortgages or their suitability. There may be a fee for mortgage advice; the precise amount depends on your circumstances.

For adverse credit mortgages the overall cost for comparison will vary, the actual rate available will depend upon your circumstances. Ask for a personalised illustration.

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