Thanks all for your attention and thoughts. Covering off a range of your ideas:
1) It's the peak latency spikes that are the concern as spiking like that illustrates an iffy connection that's poor for gaming and work video calls. On a bad day my BQM looks like a very poor Virgin Media connection where they've got an over-utilisation fault. I spent a few years as a super user in the VM's forums, I'm pretty comfortable with reading a BQM - and in their case latency faults are invariably on the local coax circuit of HFC (which shouldn't apply with OR FTTP).
2) Minimum latency is fine, my concerns have nothing to do with distance from the TBB BQM servers.
3) I suppose the router might be a problem, it's a TP-Link Deco M4, and was fine when I first connected to FTTP, and has been faultless on Virgin Media 250 Mbps connection for a couple of years before (their hub in modem mode). I ran a permanent BQM when with VM, so I'm very confident what I'm seeing at the moment is not reflecting any router limitations.
4) I believe the Deco M4 defaults to 1500 MTU
5) For reasons above, I don't think it's my router or configuration - the problem is only apparent during normal internet traffic hours, and disappears overnight. The spiking is still visible on the BQM when there's no activity on my connection.
6) I originally selected a BQM snapshot from a few days back as being representative and neither best or worst - I'm aware there's been some big games releases and sporting events this week that have created large internet traffic volumes.
7) Live BQM:
My Broadband Ping
8) For Martin, I haven't raised a service request yet because whilst I don't think it's my setup, I wanted to make sure that I wasn't missing anything, and get the wisdom of the forum.