I'm not directly affected by this issue but know people who are.
As far as I can see SVR rates are too high and should be reduced.
However I always wondered if there was some way that trackers should also share some of the pain in the form of an increased margin or, if that was not possible, some sort of levy to help rebalance the costs?
After all the Government levied additional charges on insurance and pension contracts to defray other costs.
Maybe I'm looking at this too simplistically?
I do appreciate that tracker borrowers wouldn't be too happy seeing their margins increased or a levy put on their contracts.
And in some cases it may also push some tracker borrowers into arrears/mortgage difficulties...