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15 Oct 2019
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Moneyfacts SVR mortgage survey

Around one in ten current mortgage borrowers are on their lender’s standard variable rate (SVR). Some are as a result of having a small mortgage, while others who have come to the end of an existing deal may not have had enough equity in their home to find any alternative.

For those borrowers who have been on an SVR throughout the last 12 months, the amount that they would have paid in mortgage repayments over that period could have differed considerably, depending on who their lender is.

Based on a £150K mortgage, the tables below show which lenders’ SVRs would have worked out to have been the lowest or highest in terms of annual capital and interest repayments, taking into account any changes each lender made to its SVR over the last year. 

Lowest mortgage repayments


Total Repayment 01/11/2007 to 01/11/2008 on £150K mortgage

Current SVR

Stafford Railway BS



First Direct



ING Direct (UK)



Harpenden BS



Holmesdale BS






Source: Moneyfacts.co.uk 11.11.08

Highest mortgage repayments


Total Repayment 01/11/2007 to 01/11/2008 on £150K mortgage

Current SVR

Birmingham Midshire Solutions



Ulster Bank (NI)



Darlington BS



Kent Reliance BS



Northern Rock



Bank of Scotland Mortgages



Source: Moneyfacts.co.uk 11.11.08

Michelle Slade, analyst at Moneyfacts.co.uk, comments:

“For some borrowers, SVR is their only option. The majority will remain on their current lender’s SVR, but they could have found themselves £2,176 worse off than if they had switched to a similar deal with a competitor.

“In the last year we have seen numerous lenders cease to offer SVRs to new customers. Now as base rate falls, we may see more lenders taking this step, to prevent them from receiving frequent applications from borrowers who may now see SVR products as an attractive option.

“Although it is falling, LIBOR still remains around 1.4% above base and until the gap is closed further, we are unlikely to see the full 1.5% base rate cut passed on through mortgage deals.

“So far just 19% of lenders have announced their intentions with regards to their SVR, although all apart from Earl Shilton BS have said they intend passing the cut on in full. Hopefully, in the coming days more lenders will follow suit.

“In the past lenders have been quick to pass on rate increases, but are never as quick to reduce rates again. They now need to start playing fair and giving borrowers the relief they need on their mortgage repayments.”


Moneyfacts Group
Moneyfacts is the UK’s leading independent provider of personal financial information and our data is used and trusted throughout the financial industry. 


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