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help please :the libor rate
andyb1966
Posts: 18 Forumite
Hi all i am moving from 2 year fixed to svr margin above libor of 3.1% i cant do anything about this because i am high risk can anyone tell me what they predict the libor rate will be on average , i was paying 6.5% fixed .
the libor rate mortgage i am on is set every 3 months .
Will it rocket or will it be an average %
Please help as i am worried sick .
the libor rate mortgage i am on is set every 3 months .
Will it rocket or will it be an average %
Please help as i am worried sick .
0
Comments
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My understanding is LIBOR is very low at the moment. Try here:
http://www.bba.org.uk/bba/jsp/polopoly.jsp?d=141&a=15151
or google libor. This was the first site I found. LIBOR has drifted downwards since the BOE base rate has been cut.0 -
LIBOR is currently at historic lows -currently 2.7%, which would make your mortgage 5.8%, although generally LIBOR-linked mortgages only have their rate adjusted every three months.
6 months ago LIBOR was 6.5%, which would make your mortgage 9.6%. We may well see those rates again although probably not for another year.poppy100
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