Moneyfacts.co.uk found:
- One week on from the latest Base Rate increase and only 31 lenders have announced changes to their SVRs. That’s 24% of the market.
- The list of lenders includes some of the bigger players, including Abbey, C&G, Halifax, Nationwide and Northern Rock.
- With the exception of Egg, all lenders have increased by exactly 0.25%
- Egg has increased its SVR by 0.45%, but this was partly due to a change in the way in which it calculates its SVR, moving from a Base Rate linked rate to a managed rate. Moneyfacts.co.uk said it must also be remembered that it has no current products directly linked to SVR, and even with the increase its SVR still remains low compared with the market.
