Historically, although SVRs tend to be a few percent above base rate, has any lender's SVR ever made a drastic change that wasn't caused by a change in base rate?

This is in the context of risk of taking a mortgage which discounts SVR, as opposed to a mortgage which tracks base rate.

  • Hmm.. SVRs didn't seem to fall with the base rate lately, they are just shy of 5%. I guess the UK lender consensus is that they prefer people to pay them a fee every 2-5 years to refix and prevent people from locking into low rates for a long time rather than offer 10-30 year assumable mortgages with low rates.. – nsandersen Jul 3 '20 at 11:14

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