Standard Variable Rate Mortgages
A variable rate set by us
Our Standard Variable Rate isn’t linked to the Bank of England Base Rate, or anything else. Instead we set the rate ourselves.
- when it comes to our Repayment Mortgages, the Standard Variable Rate (SVR) only ever applies when the agreed term of a Fixed or Tracker Mortgage comes to an end
- you can, however, choose to apply the Standard Variable Rate to our Offset Mortgage from the start and for the lifetime of your loan
- our SVR doesn’t track the Bank of England Base Rate or any other rate
- your interest rate will vary over the term of the loan at a rate set internally by us
- you can make unlimited over payments to your mortgage whenever you like without Early Repayment Charges.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
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Would a Tracker Rate be better for you?
A Tracker Rate sets your interest rate at an agreed percentage above the Bank of England Base Rate.
Or maybe a Fixed Rate?
Fixed interest rates are set for an agreed time for example 2 or 5 years, so you know exactly what you’re paying each month.