Does anyone know anything about the Libor (?) rate?

[LadyOfWaffle]

I think our mortgage is based on this somehow (couldn't hear woman properly so could be way off) which means our mortgage has jumped from £639 (fixed) to £890.77 now our term has ended. How high and low do you think the normal range can go? i know you can't predict it, but how has it been going the past few years? Am crapping myself.

You can download historic rates from the BBA website

www.bba.org.uk/bba/jsp/polopoly.jsp?d=141&a=627

Will see if I can find something easier

Better?

www.housepricecrash.co.uk/graphs-libor.php

what do you mean how high and low the range can go? Libor (london interbank offered rate) is a global benchmark that takes into account what banks are actually doing so is a broader benchmark than an individual bank rate that will reflect their particular circumstances info here
Jury is out on how to help the economy (ie if uk rates will be cut or not) see link to last Bank of england announcement

news.bbc.co.uk/1/hi/business/7437223.stm

Also there is a wider issue about not fixing mortgages that taps into the post northern rock concern about lenders not having enough security/return on their borrowings which means the lovely mortgage offers we saw a year or so back are now disappearing. Have you though about (or can you) remortgage to a fixed product again or is it too expensive?

Hi

Please visit this site and type in your question

click here

Ooop! I mean here

here

beware this site.. its known as dadsnet in our house as holds unending fascination for my dh

Thanks alot - PC won't do the downloads of the historic charts for some reason but will check out the other links in a min. It'ss all very confusing, I thought our mortgage went on the Bank of England rate that you hear about. I think the rate (according to mortgage website) is at 5.74 at the mo., no idea if that's good or bad - bad judging by the increase! Cannot change mortgage to a new fixed rate, DHs work have screwed us over for 3 months so are 2.77 months in arrears, about £100 away from court.

Phew, it's been up to nearly 8% 'recently' (well, about 10 years ago but in a mortgage lifetime) - I wonder how I can check how much my mortgage would be if it jumped to 8% again? I am not sure how much above the rate we are - 2.5% springs to mind, maybe i'll go work it out.

Not sure we can as we are in arrears, besides if there is any way humanly possible to not do that i'd rather go with it - I just keep thinking ahead to 23 years either thinking "phew, it's done" or "if only we had got another £100 a month, now we have the mortgage for another 10 years...". Our rate seems to be (by rough calculations) about 4% over the Libor rate, that seems very very very high to me - means a 9.6% mortgage basically at the moment. Means if it goes to 8%, we'll be paying about 12% - must go work out that repayment.

As of yesterday it is 6.87% and is apparent;y rising Banks are hanging on to their £ and not keen to lend.