Collared Rate

How it works
May be used in conjunction with a capped rate and/or a tracker. Your payments are variable but will not fall below a set level (the 'collar' or 'floor').

Early repayment charge?
Not applicable.

Is it for you?
A collared rate may be part of another interest-rate deal which otherwise appears attractive. Understand that if the rate payable is only just above the 'collar' or 'floor' and you think rates will fall, you may not get the full benefit of a reduced payment.

 

Your property may be repossessed if you do not keep up repayments on your mortgage.

 The Financial Services Authority (FSA) does not regulate some forms of mortgage. 

The information set out on this page is intended to provide a general appreciation of the topic and it is not advice. Guidance should be sought from a specialist who is qualified to advise in your specific circumstances.

For more information on any aspect of mortgages please contact Surrey Financial Advice on 01483 211800 or email us at admin@surreyifa.co.uk  We will be happy to assist you.