Jason Bailey

Experly compared by Jason Bailey

Products Updated June 4, 2018

Variable Rate Mortgages

Our expert broker team have access to all the variable rate mortgages on offer from the whole UK market place. Compare variable deals side-by-side and see rates, fees and terms together for easy comparison. View mortgage deals on offer for first time buyers and those with bad credit or those who need to remortgage.

Free mortgage advice and brokerage service. Our experts can find you the perfect deal from thousands of products & exclusive deals:

Your home may be repossessed if you do not keep up repayments on your mortgage.

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All credit types
Rated 5.0/ 5

Life's Great Why?
Why?

This provider is our Expert’s Choice in its category as it won tops marks for the following.

  • TRUST
  • VALUE
  • EXPERTISE & KNOWLEDGE
  • CUSTOMER SERVICE

Learn more about how we review and assess the providers here on Lending Expert.

LTV
60% - 100%

Initial Rate
1.19% - 4.32%

Standard Rate (SVR)
3.94% - 4.79%

APRC
3.6%

Type
Variable & 3 ,5 & 10 Fixed Rate

Life's Great provides a fee free mortgage advice and comparison service. They use technology to simplify the mortgage process and to provide quotes faster without complicated questions. Their broker service is completely free to use. Click Get A Quote for a personal illustration.


What is a variable rate mortgage?

Variable Rate Mortgages

Variable Rate Mortgages

Mortgage deals usually move onto the lenders Standard Variable Rate (SVR) after a fixed rate, or introductory period has ended. The SVR is your mortgage lenders “default” or standard product usually after the initial period has expired.

SVR deals can go up and down and is your lenders choice as to what the rate will be and how much interest they will charge. Generally SVR deals are in alignment with the BOE base rate, however this isn’t always case and shouldn’t be confused with a tracker mortgage.

Variable rate mortgage vs a fixed rate deal?

Since we have had a long period of all time low interest rates, we have also had a long period of low rate SVR mortgages. Many people on Standard Variable Rate mortgages are paying low rates of interest and are happy to continue on the product.

What are the drawbacks to variable rate mortgages?

The lender could at any time increase their SVR mortgage product rates and you may be forced into a position of having to find a better deal to keep costs down.

Mortgage Advice

What mortgage deals are out there?

You can simply use the mortgage search here on the website to view and compare the deals side by side. Alternatively you can speak to a mortgage expert who will go through all the options and choices open to you.

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