15:23 PM, 2nd June 2014, About 10 years ago 10
I have two buy to let mortgages with Mortgage Trust that are LIBOR linked and several others that are base rate linked.
With base rate likely to increase within the next 12 months I’m currently doing a bit of forward planning.
The answer to this question might be obvious to some, but I haven’t a clue. My question is; when they increase base rate by lets say 0.25% how does that affect my two LIBOR linked mortgages? Does an increase in base rate automatically increase the 3 month LIBOR rate or will the LIBOR rate not be affected by a base rate rise?