A standard variable rate (SVR) is a type of mortgage interest rate that usually follows an introductory fixed, tracker or discounted deal coming to an end. An SVR mortgage means your payments can go up or down according to changes in interest rates.

Unlike tracker mortgages, SVRs do not track above the Bank of England Base Rate at a set percentage. Instead, the rate you pay on an SVR mortgage will be determined by your mortgage lender.

SVRs are often the most expensive mortgage rates available, so you may be paying more than the best tracker or discounted rate mortgages around. If interest rates go up, so will your payments.

Your mortgage will default to an SVR after any initial offer rate ends and if you don’t remortgage, your monthly payments are likely to rise significantly.​

To speak to a member of our team about a Standard Variable Rate Mortgage, fill out the form below and an expert will be in touch. Alternatively, you can learn about other types of remortgages and explore your options.


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