Compare variable rate mortgages, including tracker and discount deals. The interest rates on these mortgages can rise and fall, and some track changes in the Bank of England base rate.
Application fee | No fee |
Arrangement fee | £995 paid upfront |
Booking fee | No fee |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in England | |
First Time Buyers | |
Max age at term end | 85 years |
Minimum Age | 18 years |
Minimum Income | £40,000 |
Permanent UK Resident | |
Self Employed Accepted | true |
Application fee | No fee |
Arrangement fee | £995 paid upfront |
Booking fee | No fee |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in England | |
First Time Buyers | |
Max age at term end | 85 years |
Minimum Age | 18 years |
Minimum Income | £40,000 |
Permanent UK Resident | |
Self Employed Accepted | true |
Application fee | No fee |
Arrangement fee | £995 paid upfront |
Booking fee | No fee |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in Scotland | |
First Time Buyers | |
Max age at term end | 85 years |
Minimum Age | 18 years |
Minimum Income | £40,000 |
Permanent UK Resident | |
Self Employed Accepted | true |
Application fee | No fee |
Arrangement fee | £995 paid upfront |
Booking fee | No fee |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in Scotland | |
First Time Buyers | |
Max age at term end | 85 years |
Minimum Age | 18 years |
Minimum Income | £40,000 |
Permanent UK Resident | |
Self Employed Accepted | true |
Application fee | No fee |
Arrangement fee | No fee |
Booking fee | No fee |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in Northern Ireland | |
Max age at term end | 65 years |
Minimum Age | 18 years |
Minimum Income | £8,000 |
Permanent UK Resident | |
Self Employed Accepted | true |
Application fee | No fee |
Arrangement fee | No fee |
Booking fee | No fee |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in Northern Ireland | |
First Time Buyers Only | |
First Time Buyers | |
Max age at term end | 65 years |
Minimum Age | 18 years |
Minimum Income | £8,000 |
Permanent UK Resident | |
Self Employed Accepted | true |
Application fee | No fee |
Arrangement fee | No fee |
Booking fee | No fee |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in Northern Ireland | |
Max age at term end | 65 years |
Minimum Age | 18 years |
Minimum Income | £8,000 |
Permanent UK Resident | |
Remortgage Available | |
Remortgage Only | |
Self Employed Accepted | true |
Application fee | No fee |
Arrangement fee | No fee |
Booking fee | No fee |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in England | |
Available in Wales | |
Existing Borrowers Only | |
Max age at application | 80 years |
Max age at term end | 85 years |
Minimum Age | 18 years |
Permanent UK Resident | |
Self Employed Accepted | true |
Application fee | No fee |
Arrangement fee | No fee |
Booking fee | No fee |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in England | |
First Time Buyers | |
Max age at term end | 85 years |
Minimum Age | 18 years |
Minimum Income | £40,000 |
Permanent UK Resident | |
Self Employed Accepted | true |
Application fee | No fee |
Arrangement fee | No fee |
Booking fee | No fee |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in England | |
First Time Buyers | |
Max age at term end | 85 years |
Minimum Age | 18 years |
Minimum Income | £40,000 |
Permanent UK Resident | |
Self Employed Accepted | true |
Application fee | No fee |
Arrangement fee | No fee |
Booking fee | No fee |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in Scotland | |
First Time Buyers | |
Max age at term end | 85 years |
Minimum Age | 18 years |
Minimum Income | £40,000 |
Permanent UK Resident | |
Self Employed Accepted | true |
Application fee | No fee |
Arrangement fee | No fee |
Booking fee | No fee |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in Scotland | |
First Time Buyers | |
Max age at term end | 85 years |
Minimum Age | 18 years |
Minimum Income | £40,000 |
Permanent UK Resident | |
Self Employed Accepted | true |
Application fee | No fee |
Arrangement fee | No fee |
Booking fee | No fee |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in Northern Ireland | |
Max age at term end | 65 years |
Minimum Age | 18 years |
Minimum Income | £8,000 |
Permanent UK Resident | |
Self Employed Accepted | true |
Application fee | No fee |
Arrangement fee | No fee |
Booking fee | No fee |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in Northern Ireland | |
Max age at term end | 65 years |
Minimum Age | 18 years |
Minimum Income | £8,000 |
Permanent UK Resident | |
Self Employed Accepted | true |
Application fee | No fee |
Arrangement fee | No fee |
Booking fee | No fee |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in Northern Ireland | |
First Time Buyers Only | |
First Time Buyers | |
Max age at term end | 65 years |
Minimum Age | 18 years |
Minimum Income | £8,000 |
Permanent UK Resident | |
Self Employed Accepted | true |
Application fee | No fee |
Arrangement fee | No fee |
Booking fee | No fee |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in Northern Ireland | |
First Time Buyers Only | |
First Time Buyers | |
Max age at term end | 65 years |
Minimum Age | 18 years |
Minimum Income | £8,000 |
Permanent UK Resident | |
Self Employed Accepted | true |
Application fee | No fee |
Arrangement fee | No fee |
Booking fee | No fee |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in Northern Ireland | |
Max age at term end | 65 years |
Minimum Age | 18 years |
Minimum Income | £8,000 |
Permanent UK Resident | |
Remortgage Available | |
Remortgage Only | |
Self Employed Accepted | true |
Application fee | No fee |
Arrangement fee | No fee |
Booking fee | No fee |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in Northern Ireland | |
Max age at term end | 65 years |
Minimum Age | 18 years |
Minimum Income | £8,000 |
Permanent UK Resident | |
Remortgage Available | |
Remortgage Only | |
Self Employed Accepted | true |
Application fee | No fee |
Arrangement fee | No fee |
Booking fee | No fee |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in England | |
Available in Scotland | |
Available in Wales | |
Existing Borrowers Only | |
Max age at term end | 80 years |
Minimum Age | 18 years |
Permanent UK Resident | |
Self Employed Accepted | true |
Application fee | No fee |
Arrangement fee | £995 paid upfront |
Booking fee | No fee |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in England | |
First Time Buyers | |
Max age at term end | 85 years |
Minimum Age | 18 years |
Minimum Income | £40,000 |
Permanent UK Resident | |
Remortgage Available | |
Self Employed Accepted | true |
Application fee | No fee |
Arrangement fee | £995 paid upfront |
Booking fee | No fee |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in England | |
First Time Buyers | |
Max age at term end | 85 years |
Minimum Age | 18 years |
Minimum Income | £40,000 |
Permanent UK Resident | |
Remortgage Available | |
Self Employed Accepted | true |
Application fee | No fee |
Arrangement fee | £995 paid upfront |
Booking fee | No fee |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in Scotland | |
First Time Buyers | |
Max age at term end | 85 years |
Minimum Age | 18 years |
Minimum Income | £40,000 |
Permanent UK Resident | |
Remortgage Available | |
Self Employed Accepted | true |
Application fee | No fee |
Arrangement fee | £995 paid upfront |
Booking fee | No fee |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in Scotland | |
First Time Buyers | |
Max age at term end | 85 years |
Minimum Age | 18 years |
Minimum Income | £40,000 |
Permanent UK Resident | |
Remortgage Available | |
Self Employed Accepted | true |
Application fee | No fee |
Arrangement fee | No fee |
Booking fee | No fee |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in England | |
Available in Wales | |
Existing Borrowers Only | |
Max age at term end | 85 years |
Minimum Age | 18 years |
Permanent UK Resident | |
Self Employed Accepted | true |
Application fee | £600 with an option to add to the loan |
Arrangement fee | No fee |
Booking fee | No fee |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in England | |
Available in Wales | |
First Time Buyers | |
Max age at term end | 70 years |
Minimum Age | 21 years |
Permanent UK Resident | |
Self Employed Accepted | true |
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Based on borrowing | £170,000 over 25 years | The overall cost of comparison | 6.41% APRC Representative |
---|---|---|---|
Initial rate | 5.44% fixed for 2 years (24 instalments of £1174.37pm) | Subsequent rate (SVR) | 6.69% variable for the remaining 23 years (276 instalments of £1135.60pm) |
Lender fee | £556 | Total amount payable | £342,166.74 |
A variable rate is a rate that a lender can charge. They are often linked to the Bank of England’s base rate - this rate is used for loans when the commercial banks borrow money from the Bank of England - and is reviewed every month by the Monetary Policy Committee.
SVR stands for standard variable rate, this is the mortgage lender’s variable rate and may change at different times from the Bank of England’s base rate. If you are not on a fixed rate mortgage, then your mortgage interest is likely to be charged at the lender’s SVR.
A variable mortgage will use the lender’s standard variable rate to decide what interest to charge you. It’s the same thing as an SVR mortgage.
There are two main types of home loan on the market known as fixed rate and variable rate mortgages. You can get the best variable-rate mortgage by finding the lowest interest rate and adding in fees to see the total cost. However, unlike a fixed rate deal, the rate you get can vary during the term of the mortgage deal.
Tracker mortgages add a fixed interest rate to an economic indicator such as the Bank of England base rate. As the base rate goes up and down, it will be followed or 'tracked' by your mortgage rate. Tracker mortgage deals usually last for two to five years.
Each lender will set its own mortgage standard variable rate (SVR) which is typically between 2% and 5% above the Bank of England’s base rate. These standard variable rates roughly track the base rate and are used by lenders as the standard mortgage rates for their SVR mortgages.
This type of mortgage can be very expensive and, importantly, this is the rate most borrowers will be put on automatically, when their mortgage deal ends.
Discount variable mortgages offer a 'discount' off the lender's current standard variable rate for a set period - usually between two and five years.
The mortgage variable rate for all of these types of mortgage is therefore able to change during the course of the mortgage term. Speak to a mortgage adviser if you are unsure what mortgage type is right for you.
A variable rate deal can change your repayments during its term, potentially causing them to go up or down.
A fixed rate deal will keep your repayments the same over the term you agree.
If you would rather know exactly how much your mortgage repayments will be, then a variable interest rate mortgage may not be the best option for you.
You can compare fixed rate mortgages if you want to keep your repayments the same for a set term.
Here is more information on the different mortgage types
You can only get a current variable mortgage rate deal that matches your loan to value ratio (LTV). This is the amount you owe on your mortgage divided by the value of your property. For example, if your mortgage is £150,000, and your property is worth £200,000, your LTV is 75%. This means you will need to look for deals with a maximum LTV of 75%.
The best variable rate mortgages tend to be offered to borrowers with an LTV of 60% or less. This is because they own a larger proportion of the property, and so pose a lower risk to a lender.
If you are a first time buyer, by offering a larger deposit you could find you can drop to a lower LTV band, which can result in cheaper variable mortgage rates.
If you are remortgaging, your property could have increased in value, which could mean you now fall into a lower LTV band. You can check how much equity you have in your home by getting it professionally valued.
You can find the current best variable mortgage rate deals in our table above.
You can find out how much you can borrow by using our mortgage calculator.
You are automatically moved to your lender's standard variable rate, meaning your repayments could go up if it is higher than your existing rate.
Yes, but many variable rate mortgage providers charge you if you repay or switch to a cheaper deal before the term ends. The exception to this is if you are on your lender's standard mortgage rate (SVR mortgage), as you can often pay off your mortgage early or move to a cheaper deal with no penalty. People on lifetime tracker deals also escape early repayment charges.
Yes, every application you make appears on your credit record, so avoid applying for too many. Here is how your credit record works.
No, but the better your credit record, the more likely you are to be accepted for a mortgage. If your credit score is low, it’s still possible to get a mortgage but it will be harder and interest rates will be higher.
We include mortgages from every lender in the UK. They are all from lenders regulated by the Financial Conduct Authority. Here is more information about how our website works.
We have commercial agreements with some of the companies in this comparison and get paid commission if we help you take out one of their products or services. Find out more here.
You do not pay any extra and the deal you get is not affected.
Last updated: 11 October, 2021
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