What are Standard Variable Rates?
SVR or standard variable rate is the interest charged by your bank or building society after the introductory fixed or discount mortgage rate ends.
Around one third of mortgage holders in the UK are paying a standard variable rate and could save thousands of pounds each year.
Why are they so bad?
So, nobody likes paying more than you have to each month and a variable rate could change at anytime.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP THE REPAYMENTS ON YOUR MORTGAGE.