It's not clear just yet but I'm told the new cap will be roughly 50% higher for variable rate than what it's at right now. I strongly recommend shopping around to see what your best options would be. It's also worth noting that even if fixed rate deals might seem more expensive, the rate gets locked in for the entire term which can sometimes work out cheaper.
Personally, I suspect just about all suppliers will max out the cap in April to try and recover losses as well. So there's no real benefit from being on variable rate as far as I see it. But that's just me personally. Your mileage may vary.
Just another guy passing by... The unknown tech way...
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@theunknowntech I`m a little confused when you say cap, nearly £2000 is the maximum they can charge so are you saying all tariffs will rise by 50%? if so that`s one hell of a hit.
I mean it`s only the cap that has risen,
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