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, moves up and down with changes in the bank base rate, but it is by no means automatic for a lender to pass on any savings, should the base rate fall. 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. Which is when you should ask our advice regarding remortgaging with another lender, to again benefit by taking out a new discount deal.

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

	Variations on Variable Rate Mortgages
	Capped Rate Mortgage
	Whilst still a variable rate product, a capped rate mortgage is very similar to a fixed in as much as you can fix...
	Tracker Mortgage
	Another variation on the variable rate theme, is the base rate tracker mortgage...

If you prefer, you can take the opportunity right now whilst you are online, to request a mortgage adviser to contact you at your convenience regarding which mortgages you could apply for right now. Just click on the Advice link below.

For advice as to whether a variable rate mortgage is the right choice for you, please click this link.