{"id":152015,"date":"2018-12-11T16:02:39","date_gmt":"2018-12-11T16:02:39","guid":{"rendered":"https:\/\/www.finder.com\/uk\/?p=152015"},"modified":"2026-05-11T05:29:05","modified_gmt":"2026-05-11T04:29:05","slug":"variable-rate-mortgages","status":"publish","type":"post","link":"https:\/\/www.finder.com\/uk\/mortgages\/variable-rate-mortgages","title":{"rendered":"Compare the best variable rate mortgages UK"},"content":{"rendered":"<p id=\"ukfhl_main_options\">We've teamed up with L&amp;C Mortgages to help you compare live rates from over 80 lenders.<\/p>\n<div class=\"text-xxx-large u-font--bold has-margin-bottom-xsmall\">I want to...<\/div>\n<div class=\"u-grid\">\n<div class=\"u-grid__col u-1\/2@s\">\n<article class=\"luna-card luna-card--shadow\">\n<div class=\"luna-card__block\"><svg class=\"luna-icon--medium has-margin-right-xsmall\" style=\"margin-bottom: -8px;\"><use xlink:href=\"#icon-first-buyer\"><\/use><\/svg><a target=\"_blank\" rel=\"sponsored\" href=\"https:\/\/www.finder.com\/redirect\/uk\/mortgages\/landc-first-time-buyer-uk-secure.html?nb=1&amp;src_country=uk&amp;redirect_tracking_params=%7B%22placement_type%22%3A%22product_link%22%2C%22title%22%3A%22Buy%2Bmy%2Bfirst%2Bhome%22%2C%22site%22%3A%22UKFHL%22%2C%22class%22%3A%22luna-card__title%22%2C%22offer_id%22%3A%223781%22%2C%22niche_code%22%3A%22UKFHL%22%2C%22product_id%22%3A%227886fbfd-9ae1-43e8-83ea-f9483f00b5ce%22%2C%22product_name%22%3A%22L%255BAMPERSAND%255DC%2BFirst%2Btime%2Bbuyer%22%2C%22provider_id%22%3A%2210be2346-8376-46f8-bd3d-44a34c873d67%22%2C%22provider_name%22%3A%22L%255BAMPERSAND%255DC%22%2C%22post_id%22%3A%22152015%22%2C%22post_path%22%3A%22mortgages%252Fvariable-rate-mortgages%22%2C%22post_country%22%3A%22uk%22%2C%22partial%22%3A%7B%22id%22%3A536938%2C%22name%22%3A%22ukfhl_main_options%22%2C%22country%22%3A%22uk%22%7D%7D\" class=\"luna-card__title\">Buy my first home<\/a><\/div>\n<\/article>\n<\/div>\n<div class=\"u-grid__col u-1\/2@s\">\n<article class=\"luna-card luna-card--shadow\">\n<div class=\"luna-card__block\"><svg class=\"luna-icon--medium has-margin-right-xsmall\" style=\"margin-bottom: -8px;\"><use xlink:href=\"#icon-location\"><\/use><\/svg><a target=\"_blank\" rel=\"sponsored\" href=\"https:\/\/www.finder.com\/redirect\/uk\/mortgages\/landc-first-time-buyer-uk-secure.html?nb=1&amp;src_country=uk&amp;redirect_tracking_params=%7B%22placement_type%22%3A%22product_link%22%2C%22title%22%3A%22Move%2Bhouse%22%2C%22site%22%3A%22UKFHL%22%2C%22class%22%3A%22luna-card__title%22%2C%22offer_id%22%3A%223781%22%2C%22niche_code%22%3A%22UKFHL%22%2C%22product_id%22%3A%227886fbfd-9ae1-43e8-83ea-f9483f00b5ce%22%2C%22product_name%22%3A%22L%255BAMPERSAND%255DC%2BFirst%2Btime%2Bbuyer%22%2C%22provider_id%22%3A%2210be2346-8376-46f8-bd3d-44a34c873d67%22%2C%22provider_name%22%3A%22L%255BAMPERSAND%255DC%22%2C%22post_id%22%3A%22152015%22%2C%22post_path%22%3A%22mortgages%252Fvariable-rate-mortgages%22%2C%22post_country%22%3A%22uk%22%2C%22partial%22%3A%7B%22id%22%3A536938%2C%22name%22%3A%22ukfhl_main_options%22%2C%22country%22%3A%22uk%22%7D%7D\" class=\"luna-card__title\">Move house<\/a><\/div>\n<\/article>\n<\/div>\n<div class=\"u-grid__col u-1\/2@s\">\n<article class=\"luna-card luna-card--shadow\">\n<div class=\"luna-card__block\"><svg class=\"luna-icon--medium has-margin-right-xsmall\" style=\"margin-bottom: -8px;\"><use xlink:href=\"#icon-short-loans-solid\"><\/use><\/svg><a target=\"_blank\" rel=\"sponsored\" href=\"https:\/\/www.finder.com\/redirect\/uk\/mortgages\/landc-first-time-buyer-uk-secure.html?nb=1&amp;src_country=uk&amp;redirect_tracking_params=%7B%22placement_type%22%3A%22product_link%22%2C%22title%22%3A%22Remortgage%2B%255BAMPERSAND%255D%2Bsave%22%2C%22site%22%3A%22UKFHL%22%2C%22class%22%3A%22luna-card__title%22%2C%22offer_id%22%3A%223781%22%2C%22niche_code%22%3A%22UKFHL%22%2C%22product_id%22%3A%227886fbfd-9ae1-43e8-83ea-f9483f00b5ce%22%2C%22product_name%22%3A%22L%255BAMPERSAND%255DC%2BFirst%2Btime%2Bbuyer%22%2C%22provider_id%22%3A%2210be2346-8376-46f8-bd3d-44a34c873d67%22%2C%22provider_name%22%3A%22L%255BAMPERSAND%255DC%22%2C%22post_id%22%3A%22152015%22%2C%22post_path%22%3A%22mortgages%252Fvariable-rate-mortgages%22%2C%22post_country%22%3A%22uk%22%2C%22partial%22%3A%7B%22id%22%3A536938%2C%22name%22%3A%22ukfhl_main_options%22%2C%22country%22%3A%22uk%22%7D%7D\" class=\"luna-card__title\">Remortgage &amp; save<\/a><\/div>\n<\/article>\n<\/div>\n<div class=\"u-grid__col u-1\/2@s\">\n<article class=\"luna-card luna-card--shadow\">\n<div class=\"luna-card__block\"><svg class=\"luna-icon--medium has-margin-right-xsmall\" style=\"margin-bottom: -8px;\"><use xlink:href=\"#icon-exclusive-deals-solid\"><\/use><\/svg><a target=\"_blank\" rel=\"sponsored\" href=\"https:\/\/www.finder.com\/redirect\/uk\/mortgages\/landc-first-time-buyer-uk-secure.html?nb=1&amp;src_country=uk&amp;redirect_tracking_params=%7B%22placement_type%22%3A%22product_link%22%2C%22title%22%3A%22Buy%2Bto%2Blet%22%2C%22site%22%3A%22UKFHL%22%2C%22class%22%3A%22luna-card__title%22%2C%22offer_id%22%3A%223781%22%2C%22niche_code%22%3A%22UKFHL%22%2C%22product_id%22%3A%227886fbfd-9ae1-43e8-83ea-f9483f00b5ce%22%2C%22product_name%22%3A%22L%255BAMPERSAND%255DC%2BFirst%2Btime%2Bbuyer%22%2C%22provider_id%22%3A%2210be2346-8376-46f8-bd3d-44a34c873d67%22%2C%22provider_name%22%3A%22L%255BAMPERSAND%255DC%22%2C%22post_id%22%3A%22152015%22%2C%22post_path%22%3A%22mortgages%252Fvariable-rate-mortgages%22%2C%22post_country%22%3A%22uk%22%2C%22partial%22%3A%7B%22id%22%3A536938%2C%22name%22%3A%22ukfhl_main_options%22%2C%22country%22%3A%22uk%22%7D%7D\" class=\"luna-card__title\">Buy to let<\/a><\/div>\n<\/article>\n<\/div>\n<\/div>\n<div class=\"text-center\">We compare brands including:<\/div>\n\n<div class=\"u-grid u-grid--alignCenter no-margin-left no-margin-right has-margin-bottom\">\n<div style=\"width: 10%; min-width: 102px; display: inline-block;\">\n<div class=\"has-padding-top-small has-padding-right-small has-padding-left-small fndrfd\">\n<img decoding=\"async\" src=\"https:\/\/www.finder.com\/niche-builder\/5de6624f3b067.png\" alt=\"Post Office Money\u00ae logo\" srcset=\"https:\/\/www.finder.com\/niche-builder\/5de6624f3b067.png?fit=180 180w, https:\/\/www.finder.com\/niche-builder\/5de6624f3b067.png?fit=360 360w, https:\/\/www.finder.com\/niche-builder\/5de6624f3b067.png?fit=600 600w, https:\/\/www.finder.com\/niche-builder\/5de6624f3b067.png?fit=900 900w, https:\/\/www.finder.com\/niche-builder\/5de6624f3b067.png?fit=1200 1200w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" loading=\"lazy\">\n<\/div>\n<\/div>\n<div style=\"width: 10%; min-width: 102px; display: inline-block;\">\n<div class=\"has-padding-top-small has-padding-right-small has-padding-left-small fndrfd\">\n<img decoding=\"async\" src=\"https:\/\/www.finder.com\/niche-builder\/5de653c442a65.png\" alt=\"NatWest logo\" srcset=\"https:\/\/www.finder.com\/niche-builder\/5de653c442a65.png?fit=180 180w, https:\/\/www.finder.com\/niche-builder\/5de653c442a65.png?fit=360 360w, https:\/\/www.finder.com\/niche-builder\/5de653c442a65.png?fit=600 600w, https:\/\/www.finder.com\/niche-builder\/5de653c442a65.png?fit=900 900w, https:\/\/www.finder.com\/niche-builder\/5de653c442a65.png?fit=1200 1200w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" loading=\"lazy\">\n<\/div>\n<\/div>\n<div style=\"width: 10%; min-width: 102px; display: inline-block;\">\n<div class=\"has-padding-top-small has-padding-right-small has-padding-left-small fndrfd\">\n<img decoding=\"async\" src=\"https:\/\/www.finder.com\/niche-builder\/5de641ff3aac8.png\" alt=\"Halifax logo\" srcset=\"https:\/\/www.finder.com\/niche-builder\/5de641ff3aac8.png?fit=180 180w, https:\/\/www.finder.com\/niche-builder\/5de641ff3aac8.png?fit=360 360w, https:\/\/www.finder.com\/niche-builder\/5de641ff3aac8.png?fit=600 600w, https:\/\/www.finder.com\/niche-builder\/5de641ff3aac8.png?fit=900 900w, https:\/\/www.finder.com\/niche-builder\/5de641ff3aac8.png?fit=1200 1200w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" loading=\"lazy\">\n<\/div>\n<\/div>\n<div style=\"width: 10%; min-width: 102px; display: inline-block;\">\n<div class=\"has-padding-top-small has-padding-right-small has-padding-left-small fndrfd\">\n<img decoding=\"async\" src=\"https:\/\/www.finder.com\/niche-builder\/60f065a491297.png\" alt=\"HSBC logo\" srcset=\"https:\/\/www.finder.com\/niche-builder\/60f065a491297.png?fit=180 180w, https:\/\/www.finder.com\/niche-builder\/60f065a491297.png?fit=360 360w, https:\/\/www.finder.com\/niche-builder\/60f065a491297.png?fit=600 600w, https:\/\/www.finder.com\/niche-builder\/60f065a491297.png?fit=900 900w, https:\/\/www.finder.com\/niche-builder\/60f065a491297.png?fit=1200 1200w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" loading=\"lazy\">\n<\/div>\n<\/div>\n<div style=\"width: 10%; min-width: 102px; display: inline-block;\">\n<div class=\"has-padding-top-small has-padding-right-small has-padding-left-small fndrfd\">\n<img decoding=\"async\" src=\"https:\/\/www.finder.com\/niche-builder\/60e2c994507a5.png\" alt=\"Barclays Mortgages logo\" srcset=\"https:\/\/www.finder.com\/niche-builder\/60e2c994507a5.png?fit=180 180w, https:\/\/www.finder.com\/niche-builder\/60e2c994507a5.png?fit=360 360w, https:\/\/www.finder.com\/niche-builder\/60e2c994507a5.png?fit=600 600w, https:\/\/www.finder.com\/niche-builder\/60e2c994507a5.png?fit=900 900w, https:\/\/www.finder.com\/niche-builder\/60e2c994507a5.png?fit=1200 1200w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" loading=\"lazy\">\n<\/div>\n<\/div>\n<div style=\"width: 10%; min-width: 102px; display: inline-block;\">\n<div class=\"has-padding-top-small has-padding-right-small has-padding-left-small fndrfd\">\n<img decoding=\"async\" src=\"https:\/\/www.finder.com\/niche-builder\/5de7e63cbedd0.png\" alt=\"Molo Finance logo\" srcset=\"https:\/\/www.finder.com\/niche-builder\/5de7e63cbedd0.png?fit=180 180w, https:\/\/www.finder.com\/niche-builder\/5de7e63cbedd0.png?fit=360 360w, https:\/\/www.finder.com\/niche-builder\/5de7e63cbedd0.png?fit=600 600w, https:\/\/www.finder.com\/niche-builder\/5de7e63cbedd0.png?fit=900 900w, https:\/\/www.finder.com\/niche-builder\/5de7e63cbedd0.png?fit=1200 1200w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" loading=\"lazy\">\n<\/div>\n<\/div>\n<div style=\"width: 10%; min-width: 102px; display: inline-block;\">\n<div class=\"has-padding-top-small has-padding-right-small has-padding-left-small fndrfd\">\n<img decoding=\"async\" src=\"https:\/\/www.finder.com\/niche-builder\/5de66a391e5dd.png\" alt=\"Skipton BS logo\" srcset=\"https:\/\/www.finder.com\/niche-builder\/5de66a391e5dd.png?fit=180 180w, https:\/\/www.finder.com\/niche-builder\/5de66a391e5dd.png?fit=360 360w, https:\/\/www.finder.com\/niche-builder\/5de66a391e5dd.png?fit=600 600w, https:\/\/www.finder.com\/niche-builder\/5de66a391e5dd.png?fit=900 900w, https:\/\/www.finder.com\/niche-builder\/5de66a391e5dd.png?fit=1200 1200w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" loading=\"lazy\">\n<\/div>\n<\/div>\n<div style=\"width: 10%; min-width: 102px; display: inline-block;\">\n<div class=\"has-padding-top-small has-padding-right-small has-padding-left-small fndrfd\">\n<img decoding=\"async\" src=\"https:\/\/www.finder.com\/niche-builder\/5de7e3c170280.png\" alt=\"TSB logo\" srcset=\"https:\/\/www.finder.com\/niche-builder\/5de7e3c170280.png?fit=180 180w, https:\/\/www.finder.com\/niche-builder\/5de7e3c170280.png?fit=360 360w, https:\/\/www.finder.com\/niche-builder\/5de7e3c170280.png?fit=600 600w, https:\/\/www.finder.com\/niche-builder\/5de7e3c170280.png?fit=900 900w, https:\/\/www.finder.com\/niche-builder\/5de7e3c170280.png?fit=1200 1200w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" loading=\"lazy\">\n<\/div>\n<\/div>\n<\/div>\n\n<article class=\"luna-card luna-card--alt\"><div class=\"luna-card__block has-padding-small\">Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.<\/div><\/article><style>\r\n.gx-badge .popover-content { line-height: 19.5px; }\r\n@media screen and (max-width: 600px) {\r\n.uk-hero-rates ul { margin-left: auto !important; margin-right: auto !important; width: fit-content; }\r\n.uk-hero-rates .text-xxx-large { text-align: center; }\r\n.applylinks .luna-button--success { margin-top: 12px; }\r\n}\r\n<\/style>\r\n<article id=\"ukfeatureproduct\" class=\"luna-card luna-card--border uk-hero-rates\" style=\"max-width: 897px; margin: 0px auto 24px;\">\r\n\r\n<footer class=\"hero-rates__disclaimer-popup disclaimer_popup-with-text has-padding-xsmall no-padding-bottom\">\r\n<span class=\"disclaimer_popup--text\">Promoted<\/span>\r\n<a class=\"disclaimer_popup disclaimer_title_empty\" data-target=\"#disclaimer_popup\" data-toggle=\"modal\" href=\"#\" aria-label=\"Learn more about what Promoted means on Finder\">\r\n<svg class=\"luna-icon luna-icon--small luna-icon--primary\">\r\n<use xlink:href=\"#info-circle\"><\/use>\r\n<\/svg>\r\n<\/a>\r\n<\/footer>\r\n\r\n<div class=\"luna-card__block no-padding-top\" style=\"border: 0px;\">\r\n<div class=\"u-grid u-grid--alignMiddle\">\r\n<div class=\"u-grid__col u-1\/4@s text-center\"><a href=\"https:\/\/www.finder.com\/redirect\/uk\/mortgages\/landc-general-mortgage-queries-uk-secure.html?nb=1&amp;src_country=uk&amp;redirect_tracking_params=%7B%22placement_type%22%3A%22nb-product%22%2C%22product_id%22%3A%22064983ae-f801-49ac-990b-1bc452f71e23%22%2C%22product_name%22%3A%22L%255BAMPERSAND%255DC%2BGeneral%2Bmortgage%2Bqueries%22%2C%22offer_id%22%3A%223781%22%2C%22decorator%22%3A%22GLOBAL.PRODUCT.UK_COMPACT_HERO_CONTENT%22%2C%22niche_code%22%3A%22UKFHL%22%2C%22post_id%22%3A%22152015%22%2C%22post_path%22%3A%22mortgages%252Fvariable-rate-mortgages%22%2C%22post_country%22%3A%22uk%22%7D\" rel=\"sponsored\" target=\"new\"><img decoding=\"async\" src=\"https:\/\/www.finder.com\/niche-builder\/5df755de81828.png\" alt=\"L&amp;C General mortgage queries\" class=\"has-margin-bottom-xsmall has-padding-small no-padding-top has-margin-top-small\" style=\"width: 168px; min-width: 120px; max-height: 140px;\" srcset=\"https:\/\/www.finder.com\/niche-builder\/5df755de81828.png?fit=180 180w, https:\/\/www.finder.com\/niche-builder\/5df755de81828.png?fit=360 360w, https:\/\/www.finder.com\/niche-builder\/5df755de81828.png?fit=504 504w\" sizes=\"(max-width: 504px) 100vw, 504px\" loading=\"lazy\"><\/a><\/div>\r\n<div class=\"u-grid__col u-1\/2@s\" style=\"margin-top: -5px;\">\r\n<div class=\"has-margin-bottom-xsmall text-xxx-large weight-normal\">Compare rates from 80+ lenders<\/div>\r\n\r\n\r\n<ul class=\"list-1 no-margin-left\">\r\n\r\n\r\n\r\n<li>The UK's largest fee-free broker<\/li>\r\n\r\n<li>No need for a credit check<\/li>\r\n\r\n<li>Support through the whole process<\/li>\r\n\r\n\r\n\r\n<\/ul>\r\n\r\n\r\n<\/div>\r\n<div class=\"applylinks u-grid__col u-1\/4@s text-center\"><a href=\"https:\/\/www.finder.com\/redirect\/uk\/mortgages\/landc-general-mortgage-queries-uk-secure.html?nb=1&amp;src_country=uk&amp;redirect_tracking_params=%7B%22placement_type%22%3A%22nb-product%22%2C%22product_id%22%3A%22064983ae-f801-49ac-990b-1bc452f71e23%22%2C%22product_name%22%3A%22L%255BAMPERSAND%255DC%2BGeneral%2Bmortgage%2Bqueries%22%2C%22offer_id%22%3A%223781%22%2C%22decorator%22%3A%22GLOBAL.PRODUCT.UK_COMPACT_HERO_CONTENT%22%2C%22niche_code%22%3A%22UKFHL%22%2C%22post_id%22%3A%22152015%22%2C%22post_path%22%3A%22mortgages%252Fvariable-rate-mortgages%22%2C%22post_country%22%3A%22uk%22%7D\" rel=\"sponsored\" target=\"new\" class=\"luna-button luna-button--large luna-button--success luna-button\">Compare now<\/a>\r\n\r\n<\/div>\r\n<\/div>\r\n<\/div>\r\n\r\n<\/article><h3 id=\"how\">How do variable mortgages work?<\/h3><p>A variable rate mortgage has an interest rate that can change over time. Your lender might cut the rate due to economic conditions or decide to raise it. This means over a year, your mortgage rate (and your monthly repayments) might increase or decrease. <\/p><p>By comparison, fixed rate mortgages don\u2019t change during the fixed period. This offers more certainty and can be better if you\u2019re on a strict budget. However, variable rates tend to be lower than fixed rates and may have fewer fees. They can also be more flexible.<\/p><h3 id=\"compare\">How do I compare variable rate mortgages?<\/h3><p>Consider the following factors when comparing variable rate mortgages:<\/p><ul><li><strong>Eligibility.<\/strong> Different lenders have different requirements when it comes to the types of properties they will finance and the types of borrowers they accept. Ensure the mortgages you\u2019re comparing are available for your situation, including the type of property, your income source and your deposit size.<\/li><li><strong>Interest rates.<\/strong> One of the biggest factors to consider is the interest rate. A lower interest rate means lower monthly repayments. It\u2019s a good idea to use a repayment calculator to find out what your repayments will look like with the given interest rate. Add an extra 1% or 2% on top to see what your repayments would be should interest rates rise.<\/li><li><strong>Fees.<\/strong> As well as the interest rate, it\u2019s important to consider the fees that might be charged. Many mortgages charge an upfront arrangement fee, for instance. In some cases, mortgages with a low interest rate might charge a higher fee, and it could work out cheaper to choose a fee-free mortgage with a higher interest rate. Do some calculations to help you work this out. In addition, there might be fees if you want to exit your mortgage deal early or make overpayments.<\/li><li><strong>Features.<\/strong> What features you choose to add to your comparison depends on how you want to use your mortgage. If you\u2019d like to use any savings you have to reduce the amount of interest you pay, you could look for an <a href=\"https:\/\/www.finder.com\/uk\/mortgages\/offset-mortgages\">offset mortgage<\/a>. If you want a mortgage that allows you to make overpayments, look for one that has no restrictions and lets you do this penalty-free.<\/li><\/ul><div class=\"did-you-know u-bg--sky-subtle u-rounded--lg\" data-component=\"did-you-know\">\n        <div class=\"did-you-know__block\">\n        <h4 class=\"did-you-know__title\">\n            <span class=\"did-you-know__title-icon\">\n                <svg width=\"32\" height=\"32\" viewbox=\"0 0 32 32\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n                    <circle cx=\"16\" cy=\"16\" r=\"12\" fill=\"#00B2FF\"><\/circle>\n                    <path d=\"M17.5 22.5C17.5 22.7967 17.412 23.0867 17.2472 23.3334C17.0824 23.58 16.8481 23.7723 16.574 23.8858C16.2999 23.9993 15.9983 24.0291 15.7074 23.9712C15.4164 23.9133 15.1491 23.7704 14.9393 23.5607C14.7296 23.3509 14.5867 23.0836 14.5288 22.7926C14.471 22.5017 14.5007 22.2001 14.6142 21.926C14.7277 21.6519 14.92 21.4176 15.1667 21.2528C15.4133 21.088 15.7033 21 16 21C16.3978 21 16.7794 21.158 17.0607 21.4393C17.342 21.7206 17.5 22.1022 17.5 22.5ZM16 9C13.2425 9 11 11.0188 11 13.5V14C11 14.2652 11.1054 14.5196 11.2929 14.7071C11.4804 14.8946 11.7348 15 12 15C12.2652 15 12.5196 14.8946 12.7071 14.7071C12.8946 14.5196 13 14.2652 13 14V13.5C13 12.125 14.3463 11 16 11C17.6538 11 19 12.125 19 13.5C19 14.875 17.6538 16 16 16C15.7348 16 15.4804 16.1054 15.2929 16.2929C15.1054 16.4804 15 16.7348 15 17V18C15 18.2652 15.1054 18.5196 15.2929 18.7071C15.4804 18.8946 15.7348 19 16 19C16.2652 19 16.5196 18.8946 16.7071 18.7071C16.8946 18.5196 17 18.2652 17 18V17.91C19.28 17.4913 21 15.6725 21 13.5C21 11.0188 18.7575 9 16 9ZM29 16C29 18.5712 28.2376 21.0846 26.8091 23.2224C25.3807 25.3603 23.3503 27.0265 20.9749 28.0104C18.5995 28.9944 15.9856 29.2518 13.4638 28.7502C10.9421 28.2486 8.6257 27.0105 6.80762 25.1924C4.98953 23.3743 3.75141 21.0579 3.2498 18.5362C2.74819 16.0144 3.00563 13.4006 3.98957 11.0251C4.97351 8.64968 6.63975 6.61935 8.77759 5.1909C10.9154 3.76244 13.4288 3 16 3C19.4467 3.00364 22.7512 4.37445 25.1884 6.81163C27.6256 9.24882 28.9964 12.5533 29 16ZM27 16C27 13.8244 26.3549 11.6977 25.1462 9.88873C23.9375 8.07979 22.2195 6.66989 20.2095 5.83733C18.1995 5.00476 15.9878 4.78692 13.854 5.21136C11.7202 5.6358 9.76021 6.68345 8.22183 8.22183C6.68345 9.7602 5.63581 11.7202 5.21137 13.854C4.78693 15.9878 5.00477 18.1995 5.83733 20.2095C6.66989 22.2195 8.07979 23.9375 9.88873 25.1462C11.6977 26.3549 13.8244 27 16 27C18.9164 26.9967 21.7123 25.8367 23.7745 23.7745C25.8367 21.7123 26.9967 18.9164 27 16Z\" fill=\"#232320\"><\/path>\n                <\/svg>\n            <\/span>\n            <span class=\"did-you-know__title-text\">What is an Offset Account<\/span>\n        <\/h4>\n        <div class=\"did-you-know__content\">\n            <p>These are mortgages that are linked to your savings account. Your savings will be offset against your mortgage\u2019s value. This means you\u2019ll only pay interest on your mortgage balance minus your savings balance, effectively reducing the amount of interest you pay. Your savings won\u2019t be used to repay any of your mortgage; they just save you interest. But note that you won\u2019t earn interest on your savings.<\/p>\n        <\/div>\n    <\/div>\n<\/div>\n<h3 id=\"pros-cons\">The pros and cons of variable rate mortgages<\/h3><p>To decide if a variable rate mortgage is suitable for you, start by weighing the benefits and risks.<\/p><div class=\"fin-pros-cons\">\n            <div class=\"fin-pros-cons__section\">\n            <h4 class=\"fin-pros-cons__heading\">Pros<\/h4>\n            <ul class=\"icon-list icon-list--check-circle\">\n                                    <li><strong>Features.<\/strong> Many variable rate mortgages come with useful features, such as the ability to make additional repayments and pay off your mortgage early without penalty.<\/li>\n                                    <li><strong>Easy to remortgage.<\/strong> When you opt for a variable rate loan, you often have the flexibility to remortgage with another lender to secure a more competitive deal whenever you want to. By contrast, many fixed rate mortgages charge high early repayment fees if you want to get out of the deal before the term's end.<\/li>\n                                    <li><strong>Lower interest rates.<\/strong> When interest rates are low, variable rate mortgages can be more competitive than fixed rate deals.<\/li>\n                            <\/ul>\n        <\/div>\n    \n            <div class=\"fin-pros-cons__section\">\n            <h4 class=\"fin-pros-cons__heading\">Cons<\/h4>\n            <ul class=\"icon-list icon-list--x-circle\">\n                                    <li><strong>Repayments can go up.<\/strong> If interest rates rise, your monthly repayments are likely to increase, which could make them unmanageable.<\/li>\n                                    <li><strong>Difficult to budget.<\/strong> If your rate is fluctuating regularly, it can be difficult to plan an accurate budget. You might have less money to allocate to other expenses if your mortgage repayment rises.<\/li>\n                            <\/ul>\n        <\/div>\n    <\/div>\n<div class=\"importantText importantText__quote\">\n  <blockquote>\n    <div class=\"importantText__quoteIcon\"><\/div>\n    <p>Talking to a fee-free mortgage broker can help you decide which type of mortgage works best for your personal and financial circumstances. \u201d<\/p>\n    <footer class=\"importantText__quoteAuthor\">\u2013 <cite>Rachel Wait, personal finance expert<\/cite><\/footer>\n  <\/blockquote>\n<\/div>\n<h3 id=\"types\">Types of variable rate mortgages<\/h3><p><img decoding=\"async\" class=\"sml-image-center lazyload alignright wp-image-1673426 size-full\" src=\"https:\/\/www.finder.com\/finder-us\/wp-uploads\/sites\/3\/2018\/11\/Couple-talking-with-a-broker1-300x200-1.jpg\" alt=\"Couple talking with a broker\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.finder.com\/finder-us\/wp-uploads\/sites\/3\/2018\/11\/Couple-talking-with-a-broker1-300x200-1.jpg?fit=180 180w, https:\/\/www.finder.com\/finder-us\/wp-uploads\/sites\/3\/2018\/11\/Couple-talking-with-a-broker1-300x200-1.jpg?fit=360 360w, https:\/\/www.finder.com\/finder-us\/wp-uploads\/sites\/3\/2018\/11\/Couple-talking-with-a-broker1-300x200-1.jpg?fit=600 600w, https:\/\/www.finder.com\/finder-us\/wp-uploads\/sites\/3\/2018\/11\/Couple-talking-with-a-broker1-300x200-1.jpg?fit=900 900w\" sizes=\"(max-width: 900px) 100vw, 900px\" loading=\"lazy\">There are a few specific types of variable mortgage rates, with some important differences between them:<\/p><ul><li><strong>Standard variable rate (SVR) mortgages.<\/strong> This is the rate your lender moves you on to when your current mortgage deal comes to an end \u2013 usually after 2,3 or 5 years. The rate is set by the lender, and it can go up or down by any amount at any time. As it\u2019s usually uncompetitive, it\u2019s best to switch to a new deal as soon as possible.<\/li><li><strong>Tracker mortgages.<\/strong> This is a type of variable rate mortgage in which the interest rate you are charged tracks another rate, usually the Bank of England base rate. This means that if the base rate (which is currently 4.50%) goes up or down, your mortgage lender also adjusts its interest rate accordingly. But it doesn\u2019t mean your provider will match the rate set by the BoE \u2013 usually, most mortgage lenders set their interest rates at a certain margin above the BoE base rate.<\/li><li><strong>Discount rate mortgages.<\/strong> This is another type of variable rate mortgage in which the mortgage lender gives you a discount on its standard variable rate for either a set period (for example, 2 or 5 years) or for the mortgage\u2019s entire term.<\/li><\/ul><p>If you\u2019re looking for a more specialised type of variable mortgage like some of the ones listed above, you should consider contacting a <a href=\"https:\/\/www.finder.com\/uk\/mortgages\/mortgage-brokers\">mortgage broker<\/a> to get some free, expert guidance.<\/p><h3>What is the difference between an SVR and a tracker rate?<\/h3><p><a href=\"https:\/\/www.finder.com\/uk\/mortgages\/tracker-mortgages\">Tracker rate mortgages<\/a> work in a similar way to standard variable rate mortgages. The difference is that tracker mortgages track the BoE base rate, while a lender\u2019s SVR doesn\u2019t necessarily have any link to the base rate and is decided by the lender.<\/p><p>Tracker mortgages are always a set percentage above the base rate. So, if your mortgage was 1% above it and the base rate was 4.25%, you\u2019d pay 5.25%. If the base rate rose to 5.25%, your mortgage rate would be 6.25%.<br>By comparison, although an SVR will likely go up and down with the base rate, it doesn\u2019t track it by a set percentage. <\/p><p>Tracker mortgages enable you to benefit from lower rates when the base rate is cut. But they also mean your monthly repayments can shoot up if the base rate rises. <\/p><p>Anyone considering a tracker should try to secure one with either no early repayment charge, making it free to leave for another deal, or with a cap on how high rates can go.<\/p><p>While your tracker mortgage rate is low, you can take the opportunity to overpay on your mortgage, shortening the total time it takes you to pay off your mortgage and cutting the amount of interest you pay.<\/p><h3>Standard variable rate vs fixed-rate mortgages<\/h3><p>An SVR mortgage offers you flexibility since you can generally remortgage or change lenders without facing a fee. However, the amount you pay in interest each month can change, so you need to make sure you can afford the rate even if it increases in the future. What\u2019s more, SVRs tend to charge higher rates compared to other deals on the market, so it\u2019s best to get off it as soon as you can. <\/p><p>For certainty over your interest payments, a <a href=\"https:\/\/www.finder.com\/uk\/mortgages\/fixed-rate-mortgages\">a fixed-rate mortgage<\/a>, where your rate will be set for an agreed period (often 2, 3 or 5 years) may work better for you. But early repayment fees can be high.<\/p><h3>Bottom line<\/h3><p>Variable rate mortgages can help to keep your monthly mortgage repayments low when the base rate falls, plus they often allow you to switch deals with no early repayment charge. But if you are thinking about applying, it\u2019s crucial to consider whether you\u2019d be able to afford your repayments if interest rates rose. If you can\u2019t, you might be better off with a fixed rate deal.<\/p><h3 id=\"FAQ\">More questions about variable rate mortgages<\/h3><p>Choosing the right type of mortgage is complex. Here are a few more specific questions and scenarios that might be relevant to you.<\/p><ul class=\"luna-accordionGroup accordionGroup\"><li class=\"luna-accordion\" data-accordion=\"accordion\">\n  <div class=\"luna-accordion__summary\">\n    <h4 class=\"luna-accordion__heading\">\n      <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"accordion0000000000\" data-toggle=\"collapse\" data-target=\"#accordion0000000000\">\n        <span class=\"luna-accordion__title\">My variable rate has just increased a lot! What should I do?<\/span>\n        <svg class=\"luna-icon\" aria-hidden=\"true\">\n          <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n          <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n        <\/svg>\n      <\/button>\n    <\/h4>\n  <\/div>\n  <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"accordion0000000000\" data-accordion=\"details\">\n    <div class=\"accordionContent\"><p>Don\u2019t panic. Check the new rate and compare other interest rates. Check if your current lender has a better product, and don\u2019t be afraid to switch to a new lender if you think you\u2019re paying too much.<\/p><\/div>\n  <\/div>\n<\/li><li class=\"luna-accordion\" data-accordion=\"accordion\">\n  <div class=\"luna-accordion__summary\">\n    <h4 class=\"luna-accordion__heading\">\n      <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"accordion0000000001\" data-toggle=\"collapse\" data-target=\"#accordion0000000001\">\n        <span class=\"luna-accordion__title\">Do variable mortgages come with 100% offset accounts?<\/span>\n        <svg class=\"luna-icon\" aria-hidden=\"true\">\n          <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n          <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n        <\/svg>\n      <\/button>\n    <\/h4>\n  <\/div>\n  <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"accordion0000000001\" data-accordion=\"details\">\n    <div class=\"accordionContent\"><p>An offset account is a transaction account that is attached to your mortgage. It helps you reduce your interest repayments by offsetting your savings against the loan\u2019s principal. Offset accounts aren\u2019t standard features on all variable mortgages, but some lenders offer them. <\/p><\/div>\n  <\/div>\n<\/li><li class=\"luna-accordion\" data-accordion=\"accordion\">\n  <div class=\"luna-accordion__summary\">\n    <h4 class=\"luna-accordion__heading\">\n      <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"accordion0000000002\" data-toggle=\"collapse\" data-target=\"#accordion0000000002\">\n        <span class=\"luna-accordion__title\">My fixed rate loan period has finished, and I'm now on a variable rate. What should I do?<\/span>\n        <svg class=\"luna-icon\" aria-hidden=\"true\">\n          <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n          <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n        <\/svg>\n      <\/button>\n    <\/h4>\n  <\/div>\n  <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"accordion0000000002\" data-accordion=\"details\">\n    <div class=\"accordionContent\"><p>It\u2019s imperative that you keep track of when the fixed term ends, because after that, your loan will revert to the bank\u2019s SVR. This will typically be a higher rate, so you\u2019ll need to start comparing your options and look to switch to a better deal. This might be with your existing lender, or you might find a more competitive deal elsewhere. There are no penalty fees for switching away from your lender\u2019s SVR. <\/p><\/div>\n  <\/div>\n<\/li><li class=\"luna-accordion\" data-accordion=\"accordion\">\n  <div class=\"luna-accordion__summary\">\n    <h4 class=\"luna-accordion__heading\">\n      <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"accordion0000000003\" data-toggle=\"collapse\" data-target=\"#accordion0000000003\">\n        <span class=\"luna-accordion__title\">What's the difference between a bank and credit union?<\/span>\n        <svg class=\"luna-icon\" aria-hidden=\"true\">\n          <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n          <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n        <\/svg>\n      <\/button>\n    <\/h4>\n  <\/div>\n  <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"accordion0000000003\" data-accordion=\"details\">\n    <div class=\"accordionContent\"><p>Banks and credit unions are both financial institutions that offer products such as mortgages, personal loans, credit cards and more. The major difference is that a bank is owned by shareholders (for-profit), while a credit union is owned by its members (not-for-profit).<\/p><\/div>\n  <\/div>\n<\/li><li class=\"luna-accordion\" data-accordion=\"accordion\">\n  <div class=\"luna-accordion__summary\">\n    <h4 class=\"luna-accordion__heading\">\n      <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"accordion0000000004\" data-toggle=\"collapse\" data-target=\"#accordion0000000004\">\n        <span class=\"luna-accordion__title\">How much deposit will I need to buy a home?<\/span>\n        <svg class=\"luna-icon\" aria-hidden=\"true\">\n          <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n          <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n        <\/svg>\n      <\/button>\n    <\/h4>\n  <\/div>\n  <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"accordion0000000004\" data-accordion=\"details\">\n    <div class=\"accordionContent\"> <p>This depends on the mortgage and other circumstances, but generally, lenders prefer a deposit of 20%. Some mortgage lenders accept as <a href=\"https:\/\/www.finder.com\/uk\/mortgages\/low-deposit-mortgages\">little as 5%<\/a>, or even no deposit if you have a guarantor such as a family member who will step in to make repayments if you can\u2019t. <\/p><\/div>\n  <\/div>\n<\/li><li class=\"luna-accordion\" data-accordion=\"accordion\">\n  <div class=\"luna-accordion__summary\">\n    <h4 class=\"luna-accordion__heading\">\n      <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"accordion0000000005\" data-toggle=\"collapse\" data-target=\"#accordion0000000005\">\n        <span class=\"luna-accordion__title\">What happens if I pay my mortgage off early?<\/span>\n        <svg class=\"luna-icon\" aria-hidden=\"true\">\n          <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n          <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n        <\/svg>\n      <\/button>\n    <\/h4>\n  <\/div>\n  <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"accordion0000000005\" data-accordion=\"details\">\n    <div class=\"accordionContent\"><p>Many mortgage lenders charge a fee for repaying your mortgage early. However, as always, this depends on the lender, so you should read the terms and conditions carefully before applying. <\/p><\/div>\n  <\/div>\n<\/li><\/ul><div id=\"sources\" style=\"position: relative;\"><h3 style=\"position: absolute; width: 1px; height: 1px; padding: 0; margin: -1px; overflow: hidden; clip: rect(0,0,0,0); white-space: nowrap; border: 0;\">Sources<\/h3>\n<div id=\"lazy0000000000\"><\/div>\n<script type=\"application\/json\" id=\"lazyloaded-assets-json-lazy0000000000\" class=\"lazyloaded-assets-json\">{\"critical-scripts\":[],\"scripts\":[\"https:\\\/\\\/www.finder.com\\\/parent-theme\\\/shortcodes\\\/article-source\\\/prod\\\/article-source.de087a0da9824e407767.js\"],\"styles\":[\"https:\\\/\\\/www.finder.com\\\/parent-theme\\\/shortcodes\\\/article-source\\\/prod\\\/article-source.87684078d471e76125dd.css\"]}<\/script><\/div><article class=\"luna-card luna-card--alt\"><div class=\"luna-card__block has-padding-small\"><strong>Representative example <\/strong><br>A mortgage of \u00a3230,537 payable over 23 years, initially on a fixed rate until 31\/01\/28 at 3.99% and then on a variable rate of 6.49% for the remaining 21 years would require 24 payments of \u00a31,277.66 followed by 252 payments of \u00a31,585.00. The total amount payable would be \u00a3430,099 made up of the loan amount plus interest (\u00a3199,547) and fees (\u00a315). The overall cost for comparison is 6.1% APRC representative.<\/div><\/article><article class=\"luna-card luna-card--alt\"><div class=\"luna-card__block has-padding-small\">We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms \"best\", \"top\", \"cheap\" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our <a href=\"https:\/\/www.finder.com\/uk\/terms-of-use\" class=\"fin-text-navy\">terms of use<\/a>. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables is provided by Defaqto. In other cases, Finder has sourced data directly from providers.<\/div><\/article>","protected":false},"excerpt":{"rendered":"<p>Find and compare lenders that offer competitive variable rate mortgages. <\/p>\n","protected":false},"author":645,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"apple_news_api_created_at":"","apple_news_api_id":"","apple_news_api_modified_at":"","apple_news_api_revision":"","apple_news_api_share_url":"","apple_news_cover_media_provider":"image","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_cover_video_id":0,"apple_news_cover_video_url":"","apple_news_cover_embedwebvideo_url":"","apple_news_is_hidden":"","apple_news_is_paid":"","apple_news_is_preview":"","apple_news_is_sponsored":"","apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"","apple_news_slug":"","apple_news_sections":[],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"post_is_fact_checked":"false","post_co_author":"-1","post_co_author_date":null,"post_co_author_manual_date_checked":null,"post_reviewer":"-1","post_reviewer_date":"","post_reviewer_manual_date_checked":null,"post_editor":"-1","post_editor_date":null,"post_author_date":"","post_author_manual_date_checked":"false","footnotes":""},"categories":[1023],"tags":[],"asset_tag":[],"class_list":["post-152015","post","type-post","status-publish","format-standard","hentry","category-mortgages"],"apple_news_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.6 (Yoast SEO v27.6) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Compare the best variable rate mortgages UK - Finder UK<\/title>\n<meta name=\"description\" content=\"Compare, research and apply for competitive variable rate mortgages. Find mortgages with low fees, offset accounts and more.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.finder.com\/uk\/mortgages\/variable-rate-mortgages\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Compare the best variable rate mortgages UK\" \/>\n<meta property=\"og:description\" content=\"Compare, research and apply for competitive variable rate mortgages. 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