Standard variable rate mortgage
Royal Bank of Scotland mortgages are available to over 18s. Your home or property may be repossessed if you do not keep up repayments on your mortgage.
What is the standard variable rate?
A standard variable rate, or SVR, is the interest rate that will be charged once an initial deal period on a fixed or tracker rate mortgage comes to an end.
With an SVR mortgage, your mortgage payments could change each month, going up or down depending on the rate.
If you don’t want to stay on a SVR mortgage then you may have the option to remortgage and move onto a new deal.
Moving to a standard variable rate?
There is usually no Early Repayment Charge (ERC), meaning you can pay as much of the mortgage back as you like at any time.
If our SVR goes down, then your rate will drop too, so you’ll pay less.
If the SVR rates go up, then you'll pay more each month and, if you then search for a new deal to tie in a rate, introductory rates may have risen too
Normally, staying at the SVR isn't the cheapest way to pay back your mortgage. You may wish to look at other mortgages if you still have a significant amount to pay off.
You may not be able to move off our SVR if you have less than £10,000 remaining on your mortgage. Please do arrange a callback.
Need some help?
Arrange a callback
Complete our quick form to arrange a callback at a time that suits you, including evenings and weekends.
This will allow you to arrange a phone or branch appointment with a qualified mortgage adviser.