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Engage credit and libor rate
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Col81_2
Posts: 69 Forumite
Hi,
I currently have a interest only mortgage that tracks the libor rate. My payment went up £20 in December a month. I have rang engage credit they cannot tell me how this is calculated or prove why it went up as far as I know libor has gone down slowly for years and never gone up. Has anybody any advice as to why this may be? It is due to change again march yet they can't prove what I should pay. The interest rate has shown it has gone up on the letters from engage but no proof and I am sure it hasn't. Maybe I should go to the Fca treating customers fairly etc?
I currently have a interest only mortgage that tracks the libor rate. My payment went up £20 in December a month. I have rang engage credit they cannot tell me how this is calculated or prove why it went up as far as I know libor has gone down slowly for years and never gone up. Has anybody any advice as to why this may be? It is due to change again march yet they can't prove what I should pay. The interest rate has shown it has gone up on the letters from engage but no proof and I am sure it hasn't. Maybe I should go to the Fca treating customers fairly etc?
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