About our Standard Variable and Follow-on Rates


  • If you applied for your mortgage deal before 23 January 2018 or from 21 November 2023, you’ll be transferred to our Standard Variable Rate when your product period ends.​
  • If you applied for a mortgage deal between 23 January 2018 and 20 November 2023, you’ll be transferred to our Follow-on Rate (FoR) when your product period ends. For example, if you applied for a new 2 year fixed rate in April 2022, your mortgage will automatically transfer to the FoR when the fixed rate ends in 2024.
  • Standard Variable Rate is currently 7.50%.​
  • It’s a variable rate that we can change. This means the rate and your monthly payment could go up or down. ​
  • It doesn’t track the Bank of England base rate, but it may change if the base rate changes. Our mortgage terms and conditions explain what other factors can also influence when we change this rate. A copy of these were sent with your latest mortgage offer.​
  • It has no early repayment charge.​
  • It has no product fee.​
  • For more information, see our current Standard Variable Rate​
  • Follow-on Rate is currently 8.50% (Bank of England base rate plus 3.25%).​
  • It’s a variable rate that tracks the Bank of England base rate. So, it will always move in line with changes to the base rate. ​
  • This means the rate and your monthly payment will go up or down as the base rate changes.​
  • It has no early repayment charge.​
  • It has no product fee.​
  • For more information, see our current Follow-on Rate​
  • They’re both types of variable rates. ​
  • Follow-on Rate (FoR) is directly linked to the Bank of England base rate and will move in line with that. Standard Variable Rate (SVR) is a rate that we can change.​
  • The rates on both SVR and FoR are likely to change in the future, but not necessarily in the same way or at the same time. 

You can check what other rates are available to you at any time. Visit our mortgage deals for existing customers page to find out how to do this.​

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