I think you would be hard pushed to find any financial institution in Ireland where their SVR was lower in APR terms than their worst ECB tracker rate, for Principal Private Residence. Maybe some cases where the Investment Home Loan rate may be lower than an ECB rate.
A lot has been made of the fact that SVR rate rises recently imply that banks have been fleecing customers, what is in fact happening is that bank's are unable to pass on the hugely increased costs of funding mortgages onto ECB tracking mortgages. But then there was always basis risk for banks in ECB Vs Euribor rates, just that the spread was quite low historically. 1mth Euribor vs ECB for most of the last 9 years was around 10bps, but now can be up to 50bps. So, if a bank borrows from another bank at 1m euribor to lend to an ECB tracking mortgage their margin has fallen by 40bps.
Yes - I can hear the boohoohoo's already, but banks are out there to make profits whether you like it or not!
My view is never touch an SVR with a 40ft barge pole.