Fixed Rate Mortgages
It is a mortgage rate where the interest rate is fixed for a specific period of time. Once the period is over, it may revert to the standard variable mortgage.
Capped Rate Mortgages
A capped mortgage rate is the same as a standard variable rate. However, it charges a maximum interest rate.
Tracker Rate Mortgage
In a tracker rate mortgage, the interest rate moves up and down depending on the base rate set by the Bank of England.