Mortgage rate comparison table

Ross_Strachan

Newbie here so bear with me.

Is there anywhere a SVR comparison table? I've raked about the web a bit but couldn't find one. Plenty of Mortgage product comparisons though.

I'm interested in seeing which lenders have dropped their SVR's and how low compared to the base rate.

TIA

Conrad

I know of no such table.

Of course one would be cautious about the lender offering the lowest variable rate consistently as this would indicate they are acting fast and lose with thier savers interests many of whom are likely to be pensioners on low incomes.

In the past I used to home in on long term variable rate patterns but found it to be tricky. For example Standard Life and Egg were good on this front yet in the last year or so they've been very slow to pass on reductions.

Waste of time to be frank.

Ross_Strachan

Conrad wrote: »

I know of no such table.

Of course one would be cautious about the lender offering the lowest variable rate consistently as this would indicate they are acting fast and lose with thier savers interests many of whom are likely to be pensioners on low incomes.

Waste of time to be frank.

I take the point. I'm interested because I used to have an ISA with A&L which recently dropped to a paltry ~1% (and has been moved) but have just come off a A&L 4.94% fix to to their 4.99% SVR. Which I think must be one of the most expensive in the market (I see Woolwich are ~1.99% SVR for example)

MarkyMarkD

It's academic where one lender's SVR is, compared to others. You are with the lender you are with, and they can charge you what they like. SVRs vary all over the place but there are a good handful of lenders charging 5.99%.

I am very surprised if Woolwich's SVR is 1.99%.

Liz33

I know that halifax's is 3.50% because I am about to go onto that but your'll be ages looking at all of them and will probably have high fees to pay to switch to really low ones

Dick_here

The BBC normally list which of the big lenders have dropped and what the current rate is. However, this really is for personal interest/irritation only, as you can't just jump onto a different lender's SVR these days, not whilst they're so low.

Ross_Strachan

MarkyMarkD wrote: »

It's academic where one lender's SVR is, compared to others. You are with the lender you are with, and they can charge you what they like. SVRs vary all over the place but there are a good handful of lenders charging 5.99%.

I am very surprised if Woolwich's SVR is 1.99%.

Yep, I agree it's mostly academic. I suppose it's a question of attitude of the lenders. I just feel that lenders who are high comparatively are extracting the michael a bit. :rotfl:

PS Woolwich quote the "Follow on rate" after fixed period ends on their current products as "bbbr WHICH IS VARIABLE, CURRENTLY 0.50$ + 1.49$ = 1.99$ FOR TERM" - I guess that is possibly different from their current SVR.

MarkyMarkD

Indeed, the BBR+1.49% rate quoted certainly isn't their current SVR. I reckon their SVR is a lot higher. That's quite an attractive follow-on rate though.

minimike2

You would be hard pushed to find a Woolwich client on their SVR though, since they have not used it as a lending rate for years. They use it to calculate affordability on new applicaitons and nothing else.

Thier follow on rate on ALL products (apart from lifetime deals that do not have follow on rates of course) was +0.99 for a long time, until the recent change.