loan interest

new_zealand

i need help to understand interest on my loan. On my agreement made back in 2007 for a loan of 35,000 over 15 years it says my interest is variable rate at 11.91 pa. two days ago i asked the question why has my interest never changed since 07 when interest has changed the answer i got is they do not follow the base rate they used by there own cost of borrowing and there capital and liquidty eh i say why does that effect me. I pay 337.56 interest per month and the rest is of my loan i have ask for a settlement i still owe on a settlement figure 11over 33,000 pounds and have paid 25,000 pounds interest am i fighting a losing battle or is this correct please help

torbrex

You would get more response if you asked this on the loans board at the top of the forum.