Protect yourself from variable interest rate rises without remortgaging!

Interest Rate Insurance

Interest Rate Insurance is a new form of mortgage insurance which protects you, as a property owner or buy-to-let landlord, from sudden increases in interest rates and rises in mortgage repayments.

Whether you’re moving onto a Standard Variable Rate (SVR), currently in negative equity or enjoying low payments on Tracker or Discounted type mortgages, Interest Rate Insurance can give you financial security both now and in the future.

The unpredictability of the mortgage market

Many property owners and buy-to-let landlords are currently enjoying low interest rates and the low monthly repayments that go with it, but how long will it last?

Bank of England (BoE) Base rates have a history of moving up and down quite sharply and, as the property market in the past few years has shown, no one can predict what will happen next.

Your mortgage repayments may be low now, but there’s no guarantee that they will be in 12 months’ time.

Interest Rate Insurance helps you to meet your monthly repayments should interest rates start rising.

Call the First Complete Insurance Advice Line now on 0845 845 6253* for an insurance quote.

The huge cost of remortgaging

Nearly 4 million homeowners are in negative equity** and many can’t meet the lenders’ requirements needed to get the best competitive deals.

Many property owners are coming off fixed mortgage rates onto a Standard Variable Rate (SVR) and are finding it difficult to switch mortgages or remortgage their property to get a good deal.

If you’re finding it hard to find a good mortgage deal, then Interest Rate Insurance can help.




Interest Rate Insurance: The Facts

Interest Rate Insurance is a simple 2-year policy that helps you meet your monthly mortgage payments if your lender increases your mortgage payments due to a rise in the BoE Base Rate.

You keep your low rate SVR and agree an insurance policy excess (e.g. 1% above your lender’s SVR, Tracker or Discounted rate).

If your rate goes up with the BoE Rate, the Interest Rate Insurance pays the difference if this goes above your policy excess.

Here are the finer details:

  • Insurance claims are paid automatically when your mortgage rate and the BoE Base Rate rises – subject to an agreed excess
  • The Interest Rate Insurance Policy lasts two years

PLUS no credit check is needed and no arrangement fees are charged.

Call today on 0845 845 6253* to get a quote from the First Complete Insurance Team.

There is no commitment and no fee.* Just call First Complete’s friendly mortgage advisers to find out more.



* Standard telephone line rates apply. Calls may be monitored and/or recorded for training and/or data protection purposes. First Complete's call centre is open Mon-Weds 9am to 7:30pm, Thurs & Fri 9am to 5:30pm and Sat 9am to 1pm. If you have requested a call back, we will do so within 24 hours of receiving your notification.

** Source: Daily Telegraph (GfK Research) 2009 

First Complete is a trading name of First Complete Ltd, which is registered in England and Wales No: 05416236. VAT Number 842 759 83. Registered office address: Newcastle House, Albany Court, Newcastle Business Park, Newcastle Upon Tyne, Newcastle, Tyne and Wear. NE4 7YB.


FC2 01 08/09

 


Published on: October 26, 2009