A standard variable rate – or SVR – is a variable rate mortgage that you’ll usually be moved on to once your existing fixed rate, tracker or discount mortgage ends – unless you choose to switch to a new deal. All mortgage providers have an SVR.
Most SVRs are not particularly competitive and if you choose to stay on this variable rate, you could find you’ll be paying more for your mortgage each month than if you were to shop around and look for a better deal.
Get in touch today, We may be able to help you secure a new deal on your mortgage.
YOUR HOME (OR PROPERTY) MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBTS SECURED ON IT.
A FEE MAY BE CHARGED FOR MORTGAGE ADVICE. THE EXACT AMOUNT WILL DEPEND ON YOUR CIRCUMSTANCES.
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