Variable rate loan


 

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Variable rate loan

Loan made at an interest rate that fluctuates depending on a base interest rate, such as the prime rate or LIBOR.



Variable rate loan

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Standard Variable Rate

Standard Variable Rate

The Standard Variable Rate is the rate which many mortgages revert to after the introductory offer, fixed rate or discount period is over. They are the simplest and most traditional mortgage product with no upper or lower limit on the rate charged, and the bank can raise or lower the rate at their discretion (though usually this is done broadly in line with the base rate).


Standard variable rate

Standard variable rate

A mortgage lender's main interest rate, which fluctuates with changes in the base rate.


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