The /v/ sound is spelled with <v>, <ve> or <vv> in savvy. The /l/ sound is spelled <l> or <ll>.
The contrast is between a labio-dental fricative and a lateral continuant, both voiced. It is not a problem for learners.
One can make any number of pairs by adding the contracted forms 've or 'll to any suitable pronoun or plural noun, such as they've/they'll or times've/times'll. Other interesting pairs include:
The mean density value is 1.7%. The list makes 137 semantic distinctions, a loading of 50%.
Ave Al avert alert averted alerted averting alerting averts alerts avocation allocation avocations allocations avoid alloyed avow allow avowed allowed avowing allowing avows allows behoved behold bevy belly bevies bellies brave braille calve Carl cave kail chivvy Chile chivvy chilli chivies chillies chivvy chilly civvies sillies conceive conceal conceived concealed conceives conceals conceiving concealing conservation consolation cove coal coves coals cover colour covered coloured covering colouring covers colours curve curl curved curled curves curls curving curling Dave dale Davey daily disavow disallow disavowed disallowed disavowing disallowing disavows disallows dove dole dove dull doves dulls drove droll eaves eels eve eel fever feeler fevers feelers five file fives files gave Gael gave gale give gill gives gills grave grail graves grails gravy greyly have Hal heave heal heaved healed heaves heals heaving healing heave heel heaves heels heaving heeling heaved heeled Hoover hula Hoovers hulas hove hole hove whole hover holler hovered hollered hovering hollering hovers hollers ivied eyelid jives Giles knave nail knaves nails live lisle love lull loved lulled loves lulls loving lulling mauve mole mauves moles pave pail paves pails pave pale paved paled paves pales paving paling peeve peal peeved pealed peeves peals peeving pealing purview purlieu purviews purlieus rave rail raved railed raves rails raving railing ravings railings reeve reel reeves reels revise relies revive revile revived reviled revives reviles reviving reviling rive rile rived riled rives riles riving riling rove rôle roves rôles rove roll roved rolled roving rolling roves rolls rover roller rovers rollers save sail saved sailed saving sailing savings sailings saves sails save sale saves sales saver sailor savers sailors savvy sally sever cellar severs cellars severity celerity shave shale sieve sill sieves sills skivvy skilly spiv spill spivs spills starving starling stave stale staved staled staves stales staving staling Steve steal Steve steel stove stole stoves stoles strove stroll swerve swirl swerved swirled swerves swirls swerving swirling tavern talon taverns talons titivate titillate titivated titillated titivates titillates titivating titillating trove troll troves trolls V Leigh V lea V's leas V lee V's lees vac lack vacs lacks vain lain vain lane vain vale vain veil vamp lamp vamps lamps vane lain vane vale vanes vales vane veil vanes veils vane lane vanes lanes vast last vastly lastly vat lat veer leer veered leered veering leering veers leers vein vale veins vales vein veil veins veils vein lane veins lanes vend lend vending lending vends lends vender lender venders lenders vent lent Vera lira vest lest vet let vetting letting viable liable viability liability Vic lick vicar liquor vicars liquors vice lice victual little victualler littler vie lie vies lies vying lying vied lied viewed lewd Viking liking Vikings likings vim limn vim limb vine line vines lines vivid livid vividly lividly vocal local vocally locally vocalize localize vocalized localized vocalizes localizes vocalizing localizing vocation location vocations locations voids Lloyd's vol loll vols lolls volley lolly volleys lollies vowed loud vox lochs waive wail waived wailed waiving wailing waives wails waive whale waives whales waives Wales waiver whaler waivers whalers wave wail waves wails waving wailing waved wailed wave whale waves whales waves Wales weave weal weaves weals weave wheel weaving wheeling weaves wheels wharves walls wive while wived whiled wives whiles wiving whiling wives wiles
John Higgins, Shaftesbury, October 2010.