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Libor fixing

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Silver_Fox*

Silver_Fox* Posts: 1 Newbie

16 August 2012 at 1:21PM in Mortgages & endowments

As the LIBOR fixing scandal involves Mortgage and Loans rates, could I sue my provider for overpayments?

Just a thought!

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Comments

vectistim Posts: 635 Forumite

16 August 2012 at 1:46PM

Generally the fixing was to make it lower than it should have been so that banks could pretend to be more stable than they were.

IANAL etc.
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GMS Posts: 5,388 Forumite

16 August 2012 at 1:54PM

Would you allow the lenders to claim against you if it is proven the rates should have been higher due to their 'massaging' of rates?

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.
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