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Libor Mortgages

isouthgate · 2004-08-26 11:09:29

Does anyone currently have a mortgage which is linked to the u.s dollar libor rate. the skipton b.s. are currently offering a 7 year deal which looks to good to be true. i would be grateful for any advice.

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Comments

lisyloo Posts: 30,077 Forumite

5 September 2004 at 4:15PM

BTW here's a graph comparing the UK and US rates.

http://www.skipton.co.uk/mortgages/products/stateside_tracker/index.asp

I thik it looks fine between 2002 and 2004 (2 years)
and bad between 1994 and 2002 (8 years).

Personally I don't like those odds but I guess it depends on your circumstances.

Basically you shouldn't gamble with money that you can't afford to lose.
Most of us can't afford to lose the money (we wouldn't have mortgages if we did).

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