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Base allows LIBOR link up
5 February, 2008
Base Commercial Mortgages is offering borrowers the option to link their mortgage to LIBOR rather than the Bank Base Rate.
The firm believes that the considerable reductions in the London Inter-Bank Offer Rate (LIBOR) since the credit crunch hit have bettered those felt in the Bank of England interest rates.
Paul Marland, sales & marketing director at Base Commercial, said: “Giving borrowers the option to link their mortgages to LIBOR not only means they can benefit from these recent reductions, but they also have the comfort of knowing that their rates will not fluctuate for 3 months.
"Base Commercial next sets its LIBOR rate on 15 February. We will, however, continue to give borrowers the option to link their loans to BBR if they prefer – the choice will be theirs.”