We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Libor
Comments
-
It sounds as though Barclays was mainly trying to manipulate the LIBOR rate downwards - to make it look as though other lenders thought Barclays was a better credit risk than it actually was.
If that's the case, then people with mortgages linked to LIBOR may actually have benefitted from the shenanigans.
...............so potentially maybe lenders could claim compensation from the borrowers!
As a broker, maybe I could claim compensation as well, as low rates have reduced my re-mortgage business...................I am a mortgage adviser.You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
I do not think any borrower would be penalised with this issue. I would imagine the penalty paid by Barclays would contribute tot he 'loses' caused.
All said the penalty will go straight in to the regulator's pocket...0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.3K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.7K Spending & Discounts
- 244.2K Work, Benefits & Business
- 599.4K Mortgages, Homes & Bills
- 177.1K Life & Family
- 257.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards