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Variable loan

Last post Tue, Nov 11 2008, 2:36 PM by tt lady. 1 replies.
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  •  Tue, Nov 11 2008, 2:36 PM

    Re: Variable loan

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    Link to an explanation of how it is computed http://www.fla.org.uk/downloads/listings.asp?pid=263 Looks like it follows the LIBOR rate which has been much higher than BoE base rate but is coming down. Have you chceked your T&Cs to make sure you shouldn't be tracking BoE rate ?
    • Post Points: 5

  •  Tue, Nov 11 2008, 2:19 PM

    Variable loan

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    I have a secured household loan with Endevour Personal Finance, and my understanding of the loan was that it went with the bank of england base rate, whne i contacted them today to ask why our payments hadnt come down, they said our rates were from the Finance House Base Rate. I've never heard of this. The loan has went up and down over the past few months. Will the Finance House Base Rate start to reflect the bank of england rate?

    Please help im very confused

    Anne-Marie
    • Post Points: 20