I have seen the term "capped rate mortgage." That seems very attractive but are these a con with the top rate being set very high?
Capped rates do sound attractive, however, in reality, the rates are often higher than other rates due to the increased to the lender. However they are certainly mot a con. They have not proved very popular in the past and there are now very few such products available. You can usually find a fixed rate at a lower rate than a capped rate, which gives even more security.
Get free mortgage quotes at
PKS - Mortgage & Insurance Experts
T: 0845 226 5009 | 11.03.12 @ 08:51
Sorry - "increased RISK to the lender". | 11.03.12 @ 08:53