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Variable rate and Libor rate
ljs2000
Posts: 85 Forumite
I wonder if anyone can help. Our fixed rate finished on 4 December and we have switched to a variable as our house is on the market. Our new rate is libor plus 3.35% which is fine but i had questioned the mortgage company because when I looked at the libor rate it said 4.04 but they stated it was 4.05. When i questioned how there was a difference they said because they use Telerate Monitor service which takes an average of the three months. Can anyone point me in the right direction to find Telerate where they publish the rates because I cant find it.
I'm still not sure they are right as it doesnt seem to matter who I speak to at the mortgage company, no-one seems to know how the libor works.
Many thanks.
I'm still not sure they are right as it doesnt seem to matter who I speak to at the mortgage company, no-one seems to know how the libor works.
Many thanks.
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