Pricing
Revert Rate
The revert rate is the variable interest rate that applies to a secured loan after its initial fixed-rate period ends. It's usually higher than the initial rate.
When your initial fixed-rate period (typically 2 or 5 years) ends, the loan switches to the lender's revert rate. This is usually a variable rate linked to the Bank of England base rate plus a margin — meaning it moves up and down with base rate changes.
Revert rates are generally higher than initial rates. A product advertised at 6.39% for 5 years might revert to 8.5%–9% afterwards. Over a long loan term, this can substantially affect your total cost.
When the initial period ends, you have options: do nothing and accept the revert rate, request a new fixed-rate product from the same lender, or refinance to a different lender. Many borrowers refinance at the end of the initial period to lock in a new fix and avoid the revert rate.