Variable Rate Mortgages

Borrowers paying the Standard Variable Rate (SVR) will have their payments increase or decrease as the lender adjusts the rate in accordance with market conditions.

In other words the amount you pay fluctuates with the SVR interest imposed by the lender. This SVR, in turn, tends to move up and down with changes in the bank base rate. It is to this SVR that your lender will normally return you once any special incentives or discounts that came with your mortgage when you took it out, are time elapsed.

There are two variations on the Variable Rate theme, that you also may like to look at. These are:

Variations on Variable Rate Mortgages:
Capped Rate Mortgage
Tracker Mortgage

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