The Standard Variable Rate (SVR) is a rate of interest set by your mortgage lender. 

It is not directly linked to the Bank of England Base Rate and can change over time, as it is influenced by a number of different factors.

Our Residential Standard Variable Rate is currently 8.19%, effective from July 1st. This will change to 8.09% from October 1st 2025. 

Our Buy to Let Standard Variable Rate is currently 8.69%, effective from July 1st. This will change to 8.59% from October 1st 2025. 

Our Self-Build Standard Variable Rate is currently 8.69%, effective from July 1st.

Our Holiday Let Standard Variable Rate is currently 8.69%, effective from July 1st. This will change to 8.59% from October 1st 2025. 

The Bank of England Base Rate is currently 4.00%, effective from 7th August 2025.

Once your current fixed, tracker or discount rate mortgage deal ends, you will be moved onto the Standard Variable Rate. As the SVR is variable, it can change at any time. This means your mortgage payments may increase or decrease. 

If you would prefer not to switch to the Standard Variable Rate, you could be eligible to switch to a new product. For more information about switching your mortgage, visit Mortgage Product Switch.