Rates & Products
Capped
This type of product is a variable rate mortgage with one important difference. The variable rate has a ceiling above which the rate cannot rise. The capped rate is usually over a specified period of time after which your loan will revert to the lender's standard variable rate. This type of rate is fairly rare these days.
A mortgage is a loan secured against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.