Interest Rate Information


The Homeowner Variable Rate and the Buy-to-Let Variable Rate

The Homeowner Variable Rate (HVR) is currently 3.74%.

The Buy-to-Let Variable Rate (BTLVR) is currently 4.59%.

These are the rates you’ll move onto at the end of any mortgage deal you applied for on or after 1 June 2010, unless, when that deal ends, you decide to switch to a new deal instead, subject to eligibility.

The Homeowner Variable Rate (HVR) is the lender variable rate that all C&G mortgage borrowing changes to at the end of a mortgage deal - except buy-to-let borrowing which changes to a different lender variable rate.

  • • These are variable rates, so your payments can go up and down in line with changes made to these rates.
  • • They’re available only when you get to the end of a deal, not at any other time, and only if the deal that’s ending 
      was applied for on or after 1 June 2010.

If you move onto the HVR or BTLVR at the end of a mortgage deal, they could be higher or lower than the rate you have been on and may vary over the remaining term of your mortgage.

The Standard Variable Mortgage Rate

The Standard Variable Mortgage Rate (SVMR) is currently 2.25%.

  • • This is the rate you’ll move onto at the end of any mortgage deal you applied for before 1 June 2010, unless, when
  •   that deal ends, you decide switch to a new deal instead, subject to eligibility.
  • • It’s a variable rate, so your payments can go up and down.
  • • The SVMR is guaranteed to be no more than 2% above the Bank of England base rate.
  • • The SVMR is available only when you get to the end of a deal, not at any other time, and only if the deal that’s ending
      was applied for before 1 June 2010.
  • • If you choose not to stay on SVMR but to take out a new deal instead, then either the Homeowner Variable Rate
      or the Buy-to-Let Variable Rate will then apply at the end of this new deal.

If you move onto the SVMR at the end of a mortgage deal, it could be higher or lower than the rate you have been on and may vary over the remaining term of your mortgage. Should you move from SVMR to another product you will not be able to move back to SVMR at any point.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

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