Definitions for "Capped mortgage"
Keywords:  variable, reverts, beyond, rise, fixed
Provided by lenders with an upper limit on the interest rate which is normally agreed for a fixed period of time. Thus if the standard interest rate is lower than the upper limit the borrower will be charged interest on the lower rate, but if the standard variable rate is higher the borrower will be charged at the agreed rate.
a combination of fixed and variable mortgage
a variable rate mortgage with a capped limit beyond which the