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Libor Rate Mortgages
Stuart_Dunn
Posts: 1 Newbie
Has anyone who had a Libor Rate mortgage for a buy to let house / private house had any
compensation from their lenders due to the fact that the Libor Rate was rigged by the banks and prosecuted by the government
compensation from their lenders due to the fact that the Libor Rate was rigged by the banks and prosecuted by the government
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Comments
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No they haven't and the Government did not prosecute anyone.
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Its been a while, but from memory were they not rigged to be lower?
I assume you will be offering to pay the lenders compensation now if that is the case?I am a Mortgage AdviserYou 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.6 -
LIBOR was moved downwards as banks sought not to send a signal that their creditworthiness was to be questioned.Stuart_Dunn said:Has anyone who had a Libor Rate mortgage for a buy to let house / private house had any
compensation from their lenders due to the fact that the Libor Rate was rigged by the banks and prosecuted by the government
If you had a LIBOR mortgage the fiddling saved you money, why would you be compensated?0 -
Some traders conspired to rig Libor to their own benefit. There wasn't wholesale collusion between banks per se.0
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