Standard Variable Mortgage Rate

The Standard Variable Mortgage Rate is currently 2.50%.

• Only applies at the natural end of a mortgage deal*
• Guaranteed to be no more than 2% above the Bank of England base rate**.

If you are currently on a Fixed-Rate or Tracker mortgage, then when your deal ends in most cases your interest rate will switch to the Standard Variable Mortgage Rate, which could be higher or lower than the rate you have been paying and may vary over the remaining term of your mortgage.

If you’re an existing mortgage customer whose deal is ending, use our Mortgage payments calculator  to work out what your payments could be.

* The Standard Variable Mortgage Rate only applies at the natural end of a fixed-rate, tracker or other special deal period - not if you come off a deal early.

** If a change in the base rate means that the Standard Variable Mortgage Rate needs to change in order to fulfil the guarantee, then it will be changed within 30 days of the change to the base rate.