{"id":6556,"date":"2023-05-29T19:20:16","date_gmt":"2023-05-29T19:20:16","guid":{"rendered":"https:\/\/www.credit-score.com\/blog\/?p=6556"},"modified":"2023-06-03T21:59:28","modified_gmt":"2023-06-03T21:59:28","slug":"what-is-a-variable-rate-mortgage","status":"publish","type":"post","link":"https:\/\/www.check.co.uk\/blog\/homes\/first-time-buyers\/what-is-a-variable-rate-mortgage\/","title":{"rendered":"What is a variable rate mortgage?"},"content":{"rendered":"\n<p>A variable rate mortgage is a type where the interest rate and the monthly repayments may fluctuate either downwards or upwards. Three types of variable rate deals are standard variable rates (SVRs), tracker rates and discounted rates.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_79_2 counter-flat ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">What&#039;s Included?<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.check.co.uk\/blog\/homes\/first-time-buyers\/what-is-a-variable-rate-mortgage\/#How_does_a_variable_rate_mortgage_work\" >How does a variable rate mortgage work?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.check.co.uk\/blog\/homes\/first-time-buyers\/what-is-a-variable-rate-mortgage\/#Different_types_of_variable_rate\" >Different types of variable rate<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.check.co.uk\/blog\/homes\/first-time-buyers\/what-is-a-variable-rate-mortgage\/#Standard_variable_rate_mortgage_SVR\" >Standard variable rate mortgage (SVR)<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.check.co.uk\/blog\/homes\/first-time-buyers\/what-is-a-variable-rate-mortgage\/#Discounted_rate_mortgage\" >Discounted rate mortgage<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.check.co.uk\/blog\/homes\/first-time-buyers\/what-is-a-variable-rate-mortgage\/#Tracker_rate_mortgage\" >Tracker rate mortgage<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.check.co.uk\/blog\/homes\/first-time-buyers\/what-is-a-variable-rate-mortgage\/#Advantages_of_variable_rate_mortgages\" >Advantages of variable rate mortgages<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.check.co.uk\/blog\/homes\/first-time-buyers\/what-is-a-variable-rate-mortgage\/#Disadvantages_of_variable_rate_mortgages\" >Disadvantages of variable rate mortgages<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.check.co.uk\/blog\/homes\/first-time-buyers\/what-is-a-variable-rate-mortgage\/#Frequently_Asked_Questions\" >Frequently Asked Questions<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\" id=\"h-how-does-a-variable-rate-mortgage-work\"><span class=\"ez-toc-section\" id=\"How_does_a_variable_rate_mortgage_work\"><\/span>How does a variable rate mortgage work?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>A variable mortgage means the interest rate and monthly payments can increase or decrease. The lender sets the variable rate, which may not change with the Bank of England base rate (unless you have a tracker mortgage). If you have a standard variable rate (SVR), you can usually switch to a different mortgage deal without paying Early Repayment Charges (ERCs).<\/p>\n\n\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-different-types-of-variable-rate\"><span class=\"ez-toc-section\" id=\"Different_types_of_variable_rate\"><\/span>Different types of variable rate<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>There are three main types of variable mortgages: standard variable rate (SVR), discounted rate, and tracker.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-standard-variable-rate-mortgage-svr\"><span class=\"ez-toc-section\" id=\"Standard_variable_rate_mortgage_SVR\"><\/span>Standard variable rate mortgage (SVR)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Once your introductory deal ends, your lender will shift you to the standard variable rate, usually higher than other mortgage rates. The lender has control over when this rate changes. Consider switching to a new deal if you are moved onto the SVR when your existing deal finishes to save costs.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-discounted-rate-mortgage\"><span class=\"ez-toc-section\" id=\"Discounted_rate_mortgage\"><\/span>Discounted rate mortgage<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>A discounted rate mortgage provides a reduced rate from the standard variable rate for a fixed duration. The discount is a percentage, such as 1.75%, subtracted from the standard variable rate. If the standard rate is currently 4.5%, your rate will be 2.75% with the discount. The lender determines the rate you pay, which can fluctuate, so the amount you pay each month may vary.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-tracker-rate-mortgage\"><span class=\"ez-toc-section\" id=\"Tracker_rate_mortgage\"><\/span>Tracker rate mortgage<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>A tracker mortgage follows the changes of another interest rate, typically the Bank of England base rate, with an additional percentage.<\/p>\n\n\n\n<p>A tracker mortgage implies that your monthly payments will change based on fluctuations in interest rates. Tracker mortgage rates usually change the month after the base rate changes. Some tracker deals come with an interest rate collar, which sets a minimum interest rate that your rate won&#8217;t drop below, even if the Bank of England base rate falls below that level. For more information on tracker mortgages, check out our guide, &#8220;What is a tracker mortgage?&#8221;.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-advantages-of-variable-rate-mortgages\"><span class=\"ez-toc-section\" id=\"Advantages_of_variable_rate_mortgages\"><\/span>Advantages of variable rate mortgages<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>If your mortgage has a variable rate, you can usually make overpayments to reduce the overall interest you pay and pay off your mortgage early. However, if you have a tracker deal, you may be penalised for paying off your mortgage before the end of the term. The payments on a tracker deal will go up when the Bank of England base rate increases and go down when it decreases.<\/p>\n\n\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-disadvantages-of-variable-rate-mortgages\"><span class=\"ez-toc-section\" id=\"Disadvantages_of_variable_rate_mortgages\"><\/span>Disadvantages of variable rate mortgages<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Variable-rate mortgages have a major drawback &#8211; your payments may fluctuate with time, making budgeting difficult. Hence, if you want to ensure that your payments remain constant over a particular period, a fixed-rate mortgage will give you the security you need.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-frequently-asked-questions\"><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span>Frequently Asked Questions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div class=\"wp-block-ub-content-toggle wp-block-ub-content-toggle-block\" id=\"ub-content-toggle-block-aa74570f-a825-4766-b7d9-e3f5e5bff791\" data-mobilecollapse=\"false\" data-desktopcollapse=\"true\" data-preventcollapse=\"false\" data-showonlyone=\"false\">\n<div class=\"wp-block-ub-content-toggle-accordion\" style=\"border-color: #4185f8;\" id=\"ub-content-toggle-panel-block-\">\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-title-wrap\" style=\"background-color: #4185f8;\" aria-controls=\"ub-content-toggle-panel-0-aa74570f-a825-4766-b7d9-e3f5e5bff791\" tabindex=\"0\">\n\t\t\t<p class=\"wp-block-ub-content-toggle-accordion-title ub-content-toggle-title-aa74570f-a825-4766-b7d9-e3f5e5bff791\" style=\"color: #FFFFFF; \">1. What is a variable rate mortgage?<\/p>\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-toggle-wrap right\" style=\"color: #FFFFFF;\"><span class=\"wp-block-ub-content-toggle-accordion-state-indicator wp-block-ub-chevron-down\"><\/span><\/div>\n\t\t<\/div>\n\t\t\t<div role=\"region\" aria-expanded=\"false\" class=\"wp-block-ub-content-toggle-accordion-content-wrap ub-hide\" id=\"ub-content-toggle-panel-0-aa74570f-a825-4766-b7d9-e3f5e5bff791\">\n\n<p>A variable rate mortgage is a type of mortgage where the interest rate can change over time. The interest rate is usually linked to the Bank of England base rate or the lender&#8217;s standard variable rate (SVR).<\/p>\n\n<\/div>\n\t\t<\/div>\n\n<div class=\"wp-block-ub-content-toggle-accordion\" style=\"border-color: #4185f8;\" id=\"ub-content-toggle-panel-block-\">\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-title-wrap\" style=\"background-color: #4185f8;\" aria-controls=\"ub-content-toggle-panel-1-aa74570f-a825-4766-b7d9-e3f5e5bff791\" tabindex=\"0\">\n\t\t\t<p class=\"wp-block-ub-content-toggle-accordion-title ub-content-toggle-title-aa74570f-a825-4766-b7d9-e3f5e5bff791\" style=\"color: #FFFFFF; \">2. What are the advantages of a variable rate mortgage?<\/p>\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-toggle-wrap right\" style=\"color: #FFFFFF;\"><span class=\"wp-block-ub-content-toggle-accordion-state-indicator wp-block-ub-chevron-down\"><\/span><\/div>\n\t\t<\/div>\n\t\t\t<div role=\"region\" aria-expanded=\"false\" class=\"wp-block-ub-content-toggle-accordion-content-wrap ub-hide\" id=\"ub-content-toggle-panel-1-aa74570f-a825-4766-b7d9-e3f5e5bff791\">\n\n<p>The main advantage of a variable rate mortgage is that it can be cheaper than a fixed-rate mortgage. This is because the interest rate can go down as well as up.<\/p>\n\n<\/div>\n\t\t<\/div>\n\n<div class=\"wp-block-ub-content-toggle-accordion\" style=\"border-color: #4185f8;\" id=\"ub-content-toggle-panel-block-\">\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-title-wrap\" style=\"background-color: #4185f8;\" aria-controls=\"ub-content-toggle-panel-2-aa74570f-a825-4766-b7d9-e3f5e5bff791\" tabindex=\"0\">\n\t\t\t<p class=\"wp-block-ub-content-toggle-accordion-title ub-content-toggle-title-aa74570f-a825-4766-b7d9-e3f5e5bff791\" style=\"color: #FFFFFF; \">3. What are the disadvantages of a variable rate mortgage?<\/p>\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-toggle-wrap right\" style=\"color: #FFFFFF;\"><span class=\"wp-block-ub-content-toggle-accordion-state-indicator wp-block-ub-chevron-down\"><\/span><\/div>\n\t\t<\/div>\n\t\t\t<div role=\"region\" aria-expanded=\"false\" class=\"wp-block-ub-content-toggle-accordion-content-wrap ub-hide\" id=\"ub-content-toggle-panel-2-aa74570f-a825-4766-b7d9-e3f5e5bff791\">\n\n<p>The main disadvantage of a variable rate mortgage is that the interest rate can go up as well as down. This means that your monthly payments could increase if interest rates rise.<\/p>\n\n<\/div>\n\t\t<\/div>\n\n<div class=\"wp-block-ub-content-toggle-accordion\" style=\"border-color: #4185f8;\" id=\"ub-content-toggle-panel-block-\">\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-title-wrap\" style=\"background-color: #4185f8;\" aria-controls=\"ub-content-toggle-panel-3-aa74570f-a825-4766-b7d9-e3f5e5bff791\" tabindex=\"0\">\n\t\t\t<p class=\"wp-block-ub-content-toggle-accordion-title ub-content-toggle-title-aa74570f-a825-4766-b7d9-e3f5e5bff791\" style=\"color: #FFFFFF; \">4. How often can the interest rate change on a variable rate mortgage?<\/p>\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-toggle-wrap right\" style=\"color: #FFFFFF;\"><span class=\"wp-block-ub-content-toggle-accordion-state-indicator wp-block-ub-chevron-down\"><\/span><\/div>\n\t\t<\/div>\n\t\t\t<div role=\"region\" aria-expanded=\"false\" class=\"wp-block-ub-content-toggle-accordion-content-wrap ub-hide\" id=\"ub-content-toggle-panel-3-aa74570f-a825-4766-b7d9-e3f5e5bff791\">\n\n<p>The interest rate on a variable rate mortgage can change at any time. However, most lenders will only change the interest rate when there is a change in the Bank of England base rate or their own SVR.<\/p>\n\n<\/div>\n\t\t<\/div>\n\n<div class=\"wp-block-ub-content-toggle-accordion\" style=\"border-color: #4185f8;\" id=\"ub-content-toggle-panel-block-\">\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-title-wrap\" style=\"background-color: #4185f8;\" aria-controls=\"ub-content-toggle-panel-4-aa74570f-a825-4766-b7d9-e3f5e5bff791\" tabindex=\"0\">\n\t\t\t<p class=\"wp-block-ub-content-toggle-accordion-title ub-content-toggle-title-aa74570f-a825-4766-b7d9-e3f5e5bff791\" style=\"color: #FFFFFF; \">5. Can I switch from a variable rate mortgage to a fixed-rate mortgage?<\/p>\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-toggle-wrap right\" style=\"color: #FFFFFF;\"><span class=\"wp-block-ub-content-toggle-accordion-state-indicator wp-block-ub-chevron-down\"><\/span><\/div>\n\t\t<\/div>\n\t\t\t<div role=\"region\" aria-expanded=\"false\" class=\"wp-block-ub-content-toggle-accordion-content-wrap ub-hide\" id=\"ub-content-toggle-panel-4-aa74570f-a825-4766-b7d9-e3f5e5bff791\">\n\n<p>Yes, you can switch from a variable rate mortgage to a fixed-rate mortgage at any time. However, you may have to pay an early repayment charge if you switch before the end of your current deal.<\/p>\n\n<\/div>\n\t\t<\/div>\n\n<div class=\"wp-block-ub-content-toggle-accordion\" style=\"border-color: #4185f8;\" id=\"ub-content-toggle-panel-block-\">\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-title-wrap\" style=\"background-color: #4185f8;\" aria-controls=\"ub-content-toggle-panel-5-aa74570f-a825-4766-b7d9-e3f5e5bff791\" tabindex=\"0\">\n\t\t\t<p class=\"wp-block-ub-content-toggle-accordion-title ub-content-toggle-title-aa74570f-a825-4766-b7d9-e3f5e5bff791\" style=\"color: #FFFFFF; \">6. What happens when my variable rate mortgage deal ends?<\/p>\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-toggle-wrap right\" style=\"color: #FFFFFF;\"><span class=\"wp-block-ub-content-toggle-accordion-state-indicator wp-block-ub-chevron-down\"><\/span><\/div>\n\t\t<\/div>\n\t\t\t<div role=\"region\" aria-expanded=\"false\" class=\"wp-block-ub-content-toggle-accordion-content-wrap ub-hide\" id=\"ub-content-toggle-panel-5-aa74570f-a825-4766-b7d9-e3f5e5bff791\">\n\n<p>When your variable rate mortgage deal ends, you will usually be moved onto your lender&#8217;s SVR. This means that your monthly payments could increase or decrease depending on changes to the interest rate.<\/p>\n\n<\/div>\n\t\t<\/div>\n\n<div class=\"wp-block-ub-content-toggle-accordion\" style=\"border-color: #4185f8;\" id=\"ub-content-toggle-panel-block-\">\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-title-wrap\" style=\"background-color: #4185f8;\" aria-controls=\"ub-content-toggle-panel-6-aa74570f-a825-4766-b7d9-e3f5e5bff791\" tabindex=\"0\">\n\t\t\t<p class=\"wp-block-ub-content-toggle-accordion-title ub-content-toggle-title-aa74570f-a825-4766-b7d9-e3f5e5bff791\" style=\"color: #FFFFFF; \">7. Can I pay off my variable rate mortgage before the term ends?<\/p>\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-toggle-wrap right\" style=\"color: #FFFFFF;\"><span class=\"wp-block-ub-content-toggle-accordion-state-indicator wp-block-ub-chevron-down\"><\/span><\/div>\n\t\t<\/div>\n\t\t\t<div role=\"region\" aria-expanded=\"false\" class=\"wp-block-ub-content-toggle-accordion-content-wrap ub-hide\" id=\"ub-content-toggle-panel-6-aa74570f-a825-4766-b7d9-e3f5e5bff791\">\n\n<p>Yes, you can pay off your variable rate mortgage before the end of the term. However, you may have to pay an early repayment charge if you do so.<\/p>\n\n<\/div>\n\t\t<\/div>\n\n<div class=\"wp-block-ub-content-toggle-accordion\" style=\"border-color: #4185f8;\" id=\"ub-content-toggle-panel-block-\">\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-title-wrap\" style=\"background-color: #4185f8;\" aria-controls=\"ub-content-toggle-panel-7-aa74570f-a825-4766-b7d9-e3f5e5bff791\" tabindex=\"0\">\n\t\t\t<p class=\"wp-block-ub-content-toggle-accordion-title ub-content-toggle-title-aa74570f-a825-4766-b7d9-e3f5e5bff791\" style=\"color: #FFFFFF; \">8. How do discount variable-rate mortgages work?<\/p>\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-toggle-wrap right\" style=\"color: #FFFFFF;\"><span class=\"wp-block-ub-content-toggle-accordion-state-indicator wp-block-ub-chevron-down\"><\/span><\/div>\n\t\t<\/div>\n\t\t\t<div role=\"region\" aria-expanded=\"false\" class=\"wp-block-ub-content-toggle-accordion-content-wrap ub-hide\" id=\"ub-content-toggle-panel-7-aa74570f-a825-4766-b7d9-e3f5e5bff791\">\n\n<p>A discount variable-rate mortgage is where the interest rate is set at a discount to the lender&#8217;s SVR for a set period of time. For example, if the lender&#8217;s SVR is 5% and the discount is 1%, then the interest rate would be 4% for the set period.<\/p>\n\n<\/div>\n\t\t<\/div>\n\n<div class=\"wp-block-ub-content-toggle-accordion\" style=\"border-color: #4185f8;\" id=\"ub-content-toggle-panel-block-\">\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-title-wrap\" style=\"background-color: #4185f8;\" aria-controls=\"ub-content-toggle-panel-8-aa74570f-a825-4766-b7d9-e3f5e5bff791\" tabindex=\"0\">\n\t\t\t<p class=\"wp-block-ub-content-toggle-accordion-title ub-content-toggle-title-aa74570f-a825-4766-b7d9-e3f5e5bff791\" style=\"color: #FFFFFF; \">9. What are mortgage collars and mortgage caps?<\/p>\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-toggle-wrap right\" style=\"color: #FFFFFF;\"><span class=\"wp-block-ub-content-toggle-accordion-state-indicator wp-block-ub-chevron-down\"><\/span><\/div>\n\t\t<\/div>\n\t\t\t<div role=\"region\" aria-expanded=\"false\" class=\"wp-block-ub-content-toggle-accordion-content-wrap ub-hide\" id=\"ub-content-toggle-panel-8-aa74570f-a825-4766-b7d9-e3f5e5bff791\">\n\n<p>A collar is a range of interest rates that your mortgage can fluctuate between, with a minimum and maximum limit. A cap is a limit on the maximum interest rate that your mortgage can reach.<\/p>\n\n<\/div>\n\t\t<\/div>\n\n<div class=\"wp-block-ub-content-toggle-accordion\" style=\"border-color: #4185f8;\" id=\"ub-content-toggle-panel-block-\">\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-title-wrap\" style=\"background-color: #4185f8;\" aria-controls=\"ub-content-toggle-panel-9-aa74570f-a825-4766-b7d9-e3f5e5bff791\" tabindex=\"0\">\n\t\t\t<p class=\"wp-block-ub-content-toggle-accordion-title ub-content-toggle-title-aa74570f-a825-4766-b7d9-e3f5e5bff791\" style=\"color: #FFFFFF; \">10. What are today&#8217;s UK mortgage rates?<\/p>\n\t\t\t<div class=\"wp-block-ub-content-toggle-accordion-toggle-wrap right\" style=\"color: #FFFFFF;\"><span class=\"wp-block-ub-content-toggle-accordion-state-indicator wp-block-ub-chevron-down\"><\/span><\/div>\n\t\t<\/div>\n\t\t\t<div role=\"region\" aria-expanded=\"false\" class=\"wp-block-ub-content-toggle-accordion-content-wrap ub-hide\" id=\"ub-content-toggle-panel-9-aa74570f-a825-4766-b7d9-e3f5e5bff791\">\n\n<p>As of June 1st 2023, the average two-year variable-rate mortgage in the UK is 5.09% (based on 75% LTV) and the average standard variable rate (SVR) in the UK is 7.75% \u00b9.<\/p>\n\n<\/div>\n\t\t<\/div>\n<\/div>\n\n\n<p class=\"has-small-font-size\">References:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li class=\"has-small-font-size\">What are today&#8217;s UK mortgage rates? | 1 June 2023 | Uswitch. <a href=\"https:\/\/www.uswitch.com\/mortgages\/uk-mortgage-rates-today\">https:\/\/www.uswitch.com\/mortgages\/uk-mortgage-rates-today<\/a><\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"A variable rate mortgage is a type where the interest rate and the monthly repayments may fluctuate either downwards or upwards. Three types of variable rate deals are standard variable rates (SVRs),\n","protected":false},"author":1,"featured_media":7301,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[475],"tags":[],"class_list":{"0":"post-6556","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-first-time-buyers"},"acf":[],"featured_image_src":"https:\/\/www.check.co.uk\/blog\/wp-content\/uploads\/2023\/06\/RAJun-000212.jpg","author_info":{"display_name":"Credit Score UK","author_link":"https:\/\/www.check.co.uk\/blog\/author\/coco\/"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is a Variable Rate Mortgage? | Credit-Score Home<\/title>\n<meta name=\"description\" content=\"Learn how variable rate mortgages work, the three types of deals you can choose from, and what to consider before deciding.\" \/>\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.check.co.uk\/blog\/homes\/first-time-buyers\/what-is-a-variable-rate-mortgage\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What is a Variable Rate Mortgage? | Credit-Score Home\" \/>\n<meta property=\"og:description\" content=\"Learn how variable rate mortgages work, the three types of deals you can choose from, and what to consider before deciding.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.check.co.uk\/blog\/homes\/first-time-buyers\/what-is-a-variable-rate-mortgage\/\" \/>\n<meta property=\"og:site_name\" content=\"Check.co.uk - 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