Standard Variable Rate (SVR)
The lender's headline rate before discounts. Almost no one pays it.
What is SVR?
The Standard Variable Rate (SVR) is a lender's advertised "headline" variable rate before discounts. Almost no one actually pays the SVR — most borrowers get substantial discounts through negotiation, professional packages, or competitive loan products.
Why it matters for you
When comparing loans, ignore the SVR. Focus on the net rate you'd actually pay after discounts, the comparison rate (including fees), and the 3–5 year total cost. SVR is most useful as a reference point for measuring discount size, not as the actual cost.