Variable rate mortgages: What are they and is it worth getting one?

Variable rate mortgages have fallen in popularity due to high interest rates, but with predictions of a base rate cut, they may become a suitable alternative to fixed-rate mortgages. Variable rates are directly impacted by the Bank of England base rate and can include tracker rates, standard variable rates (SVRs), and discounted rates. Currently, fixed rates are lower than variable rates, but variable rates offer flexibility and the potential for savings when interest rates fall. Ultimately, the decision to choose a variable rate mortgage depends on personal financial circumstances and the advice of mortgage brokers. [Extracted from the article]