Standard variable rate mortgage

November 5th, 2007   Filed Under Mortgage comparison  

As discussed previously, I intend to go through and compare the benefits of the many different mortgages available. This week i’ll talk about the standard variable rate mortgage (SVR). The SVR is the standard rate a bank uses and as the name suggests it is variable. Because the rate is linked to the Bank of England base rate it is variable so if the base rate goes up so will your mortgage.

Generally speaking people don’t stick with an SVR for very long since it is the package you are usually moved onto when your initial offer period expires. Personally I think its worth exploring other lenders before getting yourself tied into a standard variable rate.

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Comments

2 Responses to “Standard variable rate mortgage”

  1. Johnny on January 14th, 2008 4:56 pm

    So this is probably not one of the best ones to stick with! Well good to know, thanks :)

  2. Guy john on March 26th, 2008 5:20 am

    Comparison Of Mortgage Lenders…

    I don’t mean to be too in your face, but I’m not sure I agree with this. Anyhow, thanks for sharing and I think I’ll come to this blog more often….

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