What is a Mortgage Standard Variable Rate?

The mortgage standard variable rate is the interest rate that you will normally automatically go on to if you do not remortgage at the end of your mortgage deal. This is the lenders variable rate and will be a higher interest rate than if you select a new deal with a lender.

Fixed interest rate mortgage

A fixed interest rate mortgage will give you a fixed interest rate for a set period of time. Most people will take out a 2 year fixed interest rate mortgage or a 5 year fixed interest rate mortgage. You would then look to remortgage 3-6 months before your current deal comes to an end. Click here to go to our remortgage page that explains this in more detail.

Variable Interest rate mortgage

A variable interest rate mortgage will usually track the lenders standard variable rate or the bank of england base rate. On a variable rate your mortgage payment can change each month in line with interest rates.


Lender Current Standard Variable Rate (SVR) (updated 15 May 2023)
Accord 7.49
Aldermore 8.73
Bank of Ireland 7.34
Barclays 7.74
Bath Building Society 7.59
Beverley 7.54
BM solutions 8.84
Buckinghamshire 8.34
Cambridge 7.54
Chorley BS 7.74
Clydesdale/Yorkshire Bank 8.24
Co-operative bank 6.87
Coventry BS 6.99
Darlington 7.19
Digital Mortgages (Atom Bank) 6.9
Family BS (national Counties) 7.29
First Direct 6.99
Furness 7.74
Halifax/Lloyds 7.99
Handelsbanken 7.75
Hanley Economic 6.99
Hinckley & Rugby 8.69
Hodge 7.1
HSBC 6.99
Leeds 7.74
Leek United 7.49
Loughborough BS 6.59
Mansfield 7.99
Market Harborough 7.74
Marsden 8.24
Melton Mowbray 7.64
Metro Bank 7.75
Nationwide 7.74
Natwest/RBS 7.49
Newcastle 5.19
Nottingham 8
Paragon 8.85
Platform 7.12
Post Office 7.34
Principality 6.95
Santander 7.25
Scottish BS 7.49
Scottish Widows 7.99
Skipton 6.54
Stafford Railway 5.55
Suffolk BS 7.94
Teachers BS 7.79
The Mortgage Works 8.24
TSB 7.99
Vernon BS 7.35
Virgin Money 8.24
West Bromwich 6.24
Yorkshire BS 7.49