The Stafford Building Society has announced that it is set to reduce its Standard Variable Rates (SVRs) by 0.25 percentage points from 1 March 2026, with the buy-to-let and holiday let SVR now set at 7.15%.
Residential SVR will fall to 5.10%, placing it among the lowest in the UK. The move is aimed at improving affordability for complex mortgage cases, including properties and borrowers often underserved by standard lending models.
“This isn’t just a rate cut, it’s about improving real-world affordability,” said Laura Lawton, head of mortgages at The Stafford Building Society. “Dropping our SVR to 5.10% gives brokers a valuable tool, especially when clients are close to affordability limits. We look at the full picture, not just a formula for responsible lending.”
The lower SVR, combined with The Stafford’s manual underwriting process, allows brokers to revisit previously declined cases and assess applicants based on a complete view of income, property type, and ownership arrangements. This is particularly relevant for:
Borrowers with multiple income sources, including salary, bonuses or pensions
Clients purchasing non-standard, rural, or mixed-use properties
Older borrowers drawing on pensions or SIPP income
Joint Borrower Sole Proprietor (JBSP) arrangements
The SVR reduction follows the Bank of England’s base rate cut in December 2025, signalling stabilisation in mortgage markets. Despite this, many borrowers still encounter rigid affordability assessments under conventional models, highlighting the value of The Stafford’s flexible approach.
According to Moneyfacts Group, the average residential SVR in the UK was 7.15% in February 2026, making The Stafford’s 5.10% rate significantly lower than the national average.
“This SVR change gives brokers a reason to review cases that may not have fit previous affordability models. A lower variable rate, combined with a manual approach to underwriting, may improve outcomes for clients on the margins,” added Lawton.
