We like limited rises in SVR

We like lenders to play fair when increasing their standard variable rates in response to the recent increase in bank base rate.

They should limit any increases to avoid taking advantage of vulnerable borrowers. Standard variable rates that have a direct link to base rate are transparent and easier to understand and accept.

Some lenders have chosen to hold off from passing on the increase until they see what is going to happen with the mortgage market over the forthcoming weeks.

Others may be reluctant to pass on the increase for fear of being criticised for being slow to react when bank base rate fell earlier in the year.

Director of Savills Private Finance tel: 0870 900 7762