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variable interest rates

fishingfatty
fishingfatty Posts: 5 Forumite
in Mortgages & endowments
i'm currently paying nearly 9% on my mortgage and can not swap.
can i do anything about this? my rate ALWAYS goes up but very rarely down hence the high rate, but surely this isn't what you would call variable?

Comments

  • _Andy_
    _Andy_ Posts: 11,150 Forumite
    No, if it's a standard variable rate there is no obligation for the lender to pass on base rate cuts.
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