SVR vs Tracker mortgage?

My fixed term on my mortgage comes to an end in a month or so, my mortgage company has offered me 2 new mortgage deals. One is there SVR which is currently 2% above BoE rate (being 2.5% total), the other is a offset tracker which runs 1.75% above BoE Rate (being 2.24% total).
As far s I cane see the only differences are the slight iterest % difference, and the fact that SVR is lender controlled and the offset part of the tracker. Oh and the arrangement fee of £999 to go tracker.
I havent got too many savings to offset, so is it ‘dangerous’ to rely on the lender not to jack up its SVR, and are there any rules from the FSA to limit what it can do and by how much?
lastly with the difference in % rates between the two, would there be any benefit in paying the £999 to go with a tracker?
£999 is about 1% of mortgage.

the main difference is that with a tracker you have the security of being tied to the Bank of England base rate (if it goes up or down, so does your interest rate). With an SVR rate the lender can make this whatever they like.

The decision about whether it’s worth the fee really comes down to the size of your mortgage. If you owe £1m then £999 is nothing. If you owe £10k then £999 is a lot!

Your best option would be to speak to an Independent Financial Advisor. You can find one in the yellow pages.

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