What is Standard variable rate mortgage (SVRs)

The Standard variable rate is just like the tracker rate mortgage but the discretion on when and how it moves is in the hands of the Lender. In reality, they tend to move in line with the bank of England base rate. It is worth checking with a digital mortgage broker before making a decision as the rates very incredibly between lenders.

Critically, they’re the rate that most borrowers end up on after the end of an incentive(introductory) period such as a two-year fix or two-year discounted variable rate mortgage. Standard variable rate mortgages are risky as you don’t know when the lender will move its rates and they can move rates for commercial and economic reasons:

SVR mortgages are rarely available to new customers nowadays, and even if they are, they’re usually they’re not as competitive as other rates.

John Bate

John has 22 years of experience in financial services. This spans across financial research, financial services (As a qualified mortgage broker and underwriter), financial trading and sales at global investment banks. While working as a publishing research analyst, he covered European bank credit and advised institutional clients on investment strategies at both JP Morgan and Societe Generale. John has passed all three levels of the CFA (Chartered Financial Analyst) programme.