Standard Variable Rate (SVR)
SVR is a lender’s standard variable mortgage rate. After a fixed or tracker deal ends, your mortgage may move onto the SVR.
Last verified: 10/03/2026
Definition
SVR stands for Standard Variable Rate. It’s a variable mortgage interest rate set by the lender.
Why SVR matters
Many mortgages have an initial product period (for example a 2-year fixed rate). When that ends, if you do nothing, the mortgage may revert to the lender’s SVR.
SVR can be:
- higher than your initial deal rate
- changed by the lender over time
Practical tip
Before your fixed rate ends, it’s common to review options (remortgage or product transfer) rather than automatically staying on SVR.
Related terms
- APRC
- Stress rate