Return to the Mortgage Glossary Home to view explanations for all mortgage terms. What follows is the definition for the term SVR (Standard Variable Rate) as it relates to mortgages in the UK. SVR (Standard Variable Rate)SVR stands for Standard Variable Rate and refers to the interest rate charged by a mortgage provider on their standard mortgage. It is generally linked to the base rate as set by the Bank of England. Mortgage providers however will typically offer a wide range of mortgage products, and these will often not be applied at the standard variable rate. Typically the SVR is the rate that a mortgage will return to after any initial discounts or introductory offers.
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