Calculate Your Monthly Savings
Enter your outstanding mortgage balance and your current SVR to see how much you could save by switching to a competitive fixed rate.
Calculator uses interest-only basis for illustration. Actual monthly payments for a repayment mortgage will differ. All figures are indicative and for guidance only.
What Is the SVR - and Why Is It So Expensive?
The standard variable rate (SVR) is your lender's default mortgage rate. When your fixed or tracker deal ends, you automatically roll onto the SVR unless you arrange a new deal. The SVR is set by your lender - not the Bank of England - and can change at any time.
In October 2026, most lenders' SVRs sit between 6.99% and 7.99%, while the best available 2-year fixed rates are around 4.49%. This gap - often called the "loyalty penalty" - means borrowers who don't switch when their deal ends can pay thousands more per year than necessary.
The UK's Financial Conduct Authority estimates that around 1 million UK households are currently on their lender's SVR, many without realising the significant cost.
How Much Are You Overpaying? - By Lender
| Lender | SVR | Best 2yr Fix | Monthly saving on £250k | Annual saving |
|---|---|---|---|---|
| HSBC | 6.99% | 4.49% | ~£347/mo | ~£4,164 |
| Barclays | 7.24% | 4.54% | ~£363/mo | ~£4,356 |
| Coventry BS | 7.24% | 4.58% | ~£355/mo | ~£4,260 |
| Nationwide | 7.49% | 4.59% | ~£381/mo | ~£4,572 |
| Santander | 7.50% | 4.62% | ~£379/mo | ~£4,548 |
| Halifax | 7.74% | 4.65% | ~£396/mo | ~£4,752 |
| Lloyds Bank | 7.74% | 4.67% | ~£394/mo | ~£4,728 |
| NatWest | 7.74% | 4.68% | ~£393/mo | ~£4,716 |
| Virgin Money | 7.99% | 4.71% | ~£413/mo | ~£4,956 |
Monthly savings based on interest-only, £250,000 balance. Actual savings depend on your balance, term, and eligibility. Rates correct as of October 2026.
How to Stop Overpaying
The process is straightforward - and since the July 2026 FCA rule change, it's faster than ever:
- Contact us at least 3 months before your deal ends - you can lock in a new rate in advance and avoid any time on the SVR
- We compare your lender's product transfer rate vs the full market - the best deal might be to stay or to switch
- If a product transfer wins - we arrange it with your lender; no solicitor, no valuation, often same-day
- If the market beats your lender - we handle the full remortgage application across 130+ lenders
There's no fee for our advice - we're paid by the lender when your mortgage completes.