Collared Rate
Your payments are normally linked to the Bank of England rate but are guaranteed not to go below a certain level.
Advantages
If mortgage rates go down you will follow but to a certain level.
Disadvantages
The collar is normally part of a deal that otherwise looks attractive ie a capped rate. You think you are ok and that the rate will fall if the bank of England rate falls but the collar will stop your rates falling. Try to avoid this scheme.
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 0800 0112825.
‘Your home may be repossessed if you do not keep up repayments on your mortgage’.
Need further advice? Contact your mortgage adviser on:
0800 0112825 or complete the enquiry form
We will tell you very quickly if your mortgage is likely to be successful.
Or the case of a remortgage, you are better staying with your existing lender.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Our fee guarantee: You will not pay any fees unless we can help you.
When you contact us for mortgage advice your dedicated adviser will stay with you from the beginning of your enquiry right through to the end.
"It is the value of honesty, integrity and empathy which have given Worldwide Financial Planning the edge over other advisers"
About Worldwide
Our Services
Really Useful Money Stuff
Newsletters
Call free on
0800 0112825
Overseas call
+44(0)1872 222 422
16 FT Awards in 4 Years