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Capped Rate

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Your payments are normally linked to the bank of England rate but are guaranteed not to go above a certain level. 

Advantages: 

If mortgage rates go down you will follow.
You know how much to budget for in the future as you will know what the maximum payments will be. 

Disadvantages: 

The capped rate may never be reached and the perceived benefit would be nil.
Normally you will have a penalty for early repayment. 

For truly independent advice from the FT Adviser, UK Mortgage Broker of the Year for 2005, 2006 and 2007, complete our enquiry form or feel free to call us in confidence on 0845 230 9876.
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'Your home may be repossessed if
you do not keep up repayments on your mortgage'

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Registered office; The Old Carriage Works, Moresk Road, Truro, Cornwall, TR1 1DG. Registered in England and Wales No. 3533548. Contact info@wwfp.net or 01872 222 422

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