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what is a libor mortgage and rate??
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maz1964
Posts: 903 Forumite
hiya
a quick question this libor rate what is it about pls
can anyone explain,,,my friends mortgage rate is going up her monthly payment will increase from 1200 to 1600 pounds
what can she do if anything pls,,,
ta muchly maz
a quick question this libor rate what is it about pls
can anyone explain,,,my friends mortgage rate is going up her monthly payment will increase from 1200 to 1600 pounds
what can she do if anything pls,,,
ta muchly maz
Sealed Pot Challenge member 1525
"Knowledge is the Power to get Debt Free":j
Truecall device, stops all the unneccesary phone calls - my sanity has been restored and the peace in the house is truely priceless!:rotfl:
"Knowledge is the Power to get Debt Free":j
Truecall device, stops all the unneccesary phone calls - my sanity has been restored and the peace in the house is truely priceless!:rotfl:
0
Comments
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The libor rate is the rate at which banks and building societies lend to each other or at the moment ( dont lend to each other )!
You need to post your friends mortgage details !
value of property
amount of mortgage and length
deal he/she is now on and rate going to
income and type of deal they are looking for.0 -
LIBOR is the rate at which banks lend each other money (unsecured loans). Look on Google, Wikipedia or simialr to find out more.
You need to give more detail about your friend's specific circumstances to get the best advice.0 -
They are normally associated with "non-conforming" mortgage which could include adverse credit.
Did she have adverse credit? Does she still have an adverse credit history?
Who is the lender?I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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