At Sextant Mortgages we’re pleased to present a brand new mortgage product, which has been developed to meet our clients’ needs and requests, as they go through the purchasing of a property: the new +1% capped product.
The product is perfect for Acquisition and Post Finance, Equity Release and Refinancing.
For example, for an Acquisition and Post Finance, if you take out a loan to value mortgage of 60% (financing the remaining 40% yourself), you can take advantage of a 3.30%+1 rate, over seven years (you can take out a loan of up to 85% of the value with a 3.50%+1 rate). Once the seven years have elapsed, you can then renegotiate your mortgage. This is based on a variable interest rate indexed on Euribor 3 months + margin.
If you are after an Equity Release mortgage, you can take out a loan to value of 70%, capped at 4.15%+1 over seven years. After these seven years, you can also then renegotiate. This is based on a variable interest rate indexed on Euribor 3 months + margin.
This +1% capped product is ideal for clients who may be worried about variable rates increasing, or those that would like security but at a very good price and with the best conditions.
– Capped duration
– Constant monthly payment
– Capped rate
Most importantly, when rates increase clients are protected by the cap at 1%, but when rates diminish the clients take advantage of the entire decrease: the best of both worlds!
If you would like to receive a free quote with no obligation, contact our in-house mortgage consultants by telephone: 0207 428 4918 or by email: [email protected]