B&W launches capped offsets

Bristol & West Mortgages is launching two offset mortgages with the added security of a capped rate.

Clients can choose either a 4.89% (base rate plus 0.89%) for the term of the mortgage capped at 5.89%, or opt for a deal at 4.99% (base rate plus 0.99%) for the term of the mortgage capped at 5.99% with free legals for remortgagers and free valuation.

Given the widely held belief that interest rates will continue to rise B&W says clients&#39 concerns that they will be unable to meet mortgage payments will be partly alleviated by these deals as the rates are guaranteed not to rise above the capped levels until June 2006.

The mortgages are available up to 90% LTV and allow overpayments, underpayments and payment holidays Bob Stanworth, senior product manager for Bristol & West, says: “This offers clients two competitive rates with the benefits of offsetting plus peace of mind.”