Standard Variable Rate (SVR)

Our current SVR

Our SVR is currently 8.85% variable.

SVR explained

A Standard Variable Rate (SVR) is a rate of interest that you’ll move onto when your current fixed or discounted deal ends. This means that payments can increase or decrease according to changes in interest rates. Standard Variable rate will be determined by your lender and doesn’t track the Bank of England base rate. Your lender has the option to follow or not follow if the base rate increased or decreased.

Mortgage lenders may also increase or decrease their SVR at any time, not only when the Bank of England changes the base rate.

If you don’t switch your mortgage to another fixed rate at the end of your previous fixed rate period, you’ll move onto our Standard Variable Rate.  Your payments will increase and decrease in line with the changes to the Standard Variable Rate.

You can refix your interest rate at any time when you’re on our Standard Variable Rate. You’ll need to have a minimum of two years remaining on your mortgage term.

If you’d like to discuss your options with an independent financial adviser you can contact them directly, and we’ll pay them a fee for helping you. We’ll liaise with your financial adviser and get in touch with you to confirm you’d like to go ahead following a review of your new mortgage offer.

If you know what mortgage deal you want, it’s up to you whether you take advice. We strongly encourage you to get financial advice to make sure you’re getting the best option for you and your personal circumstances.

Make sure you understand the details of your new mortgage deal and the mortgage payments you’ll be expected to pay each month. If you’re not sure, speak to a mortgage adviser first or visit to find a mortgage adviser.

You can complete and return the Rate Switch application form which includes the Execution Only Declaration Form. If you don’t speak to an adviser, this declaration confirms that you have chosen to proceed without obtaining advice.

Phone: 0800 731 4076
Email: [email protected]

If your payments have increased and you feel they’ve become unaffordable, please contact us and we’ll do our best to provide helpful information and options that may be available to you.


For more information please email us at [email protected] or call us on 0800 731 4076.