Charcol offers SVR cap tool

Borrowers buy protection and set the term length and rate, giving them a chance to insure themselves against the likelihood of a rate rise. The cap is offered to variable rate borrowers as an alternative to a fixed rate for those borrowers who either can't or don't choose to fix their mortgage loans. Charcol's senior technical manager, Ray Boulger says: "Unless you are the proud owner of a crystal ball, knowing what the future for interest rates looks like is all but impossible. What we do know however is that we are in challenging times with plenty of known unknowns. "With many b...