Question about SVR's

Ste.._2

Hi

Is the SVR that will be available to you at the end of your fix based on your own personal BOE+ xx% ?

What I mean is, if the BOE rate rose to 5%, and your banks SVR changed from say BOE+4% to BOE+1%, do you get that rate, or do you get the rate that was available when you took out your mortgage?

Hope that makes sense!

opinions4u

Depends on the lender.

Most SVRs are set at the lender's discretion. They usually change when BofE rates change, but not always by the same amount.

Don't expect lenders to leave their SVRs low as rates rise. The V means variable.