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Capped Rate Mortgages |
| This aims to give the borrower the best of both the variable and fixed worlds – the interest rate falls when the base rate does, but it will only rise to an upper limit. With this approach you will save when the rate falls, but you will have some security knowing that there is a limit to how much your repayments will be. The interest rates for capped rate mortgages will be comparatively higher than for other types of mortgage. |
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