With a capped rate mortgage there is a ceiling to the interest rate you will pay over a given period of time. If the lender's variable rate rises higher than the capped rate you will benefit. But if it falls below the capped rate you'll just be paying what everyone else is paying.

Capped rates will tie you in for a period of usually between 1 and 5 years.

Capped rates provide you with some of the advantages of fixed rates and of variable rates and they make good sense for those on tight budgets who need to ensure that their monthly payments don't rise too far.

Professional, unbiased advice

Finding the best mortgage to suit your personal circumstances can be time consuming and confusing, so it's make sense to get a broker to do the hard work for you. 

You can get a  free no obligation quote from an independent and impartial broker who will compare mortgage products from the whole UK market and will not be tied to any mortgage provider, ensuring that you receive unbiased advice.