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secured loan interest
Hi,
I would appreciate any help or advice any of you kind people can offer!
We (my wife and I) took out a secured loan on our home in 2007. Since then and the subsequent rate falls the payments have not altered. After contacting the concerned company (back in 2009) they stated that the rates were indeed variable however they pegged to the inter bank lending rate.
Is this correct - or has anyone else experienced a similar situation.
Many Thanks,
Parissol!
I would appreciate any help or advice any of you kind people can offer!
We (my wife and I) took out a secured loan on our home in 2007. Since then and the subsequent rate falls the payments have not altered. After contacting the concerned company (back in 2009) they stated that the rates were indeed variable however they pegged to the inter bank lending rate.
Is this correct - or has anyone else experienced a similar situation.
Many Thanks,
Parissol!
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