Libor Rate Scandal -Will Not Affect Home Owners
Posted: 16/07/2012 Author: Michael Usher
Home owners in Camberley…No need to worry The Council of Mortgage Lenders, say the recent scandal involving Barclays and other banks will not affect home owners in the UK…
Mortgage Lender Group Says Libor Woes Won’t Hurt UK Homeowners
“A group representing U.K. mortgage providers said the scandal surrounding the Libor interbank offered rate won’t hurt homeowners.
“It’s very unlikely that Libor-fixing will have had any material impact at all on consumers,” said Sue Anderson, the head of member relations at the Council of Mortgage Lenders in London, whose 110 members include HSBC Holdings Plc and Barclays Plc. (BARC) “If anything, a downward impact on Libor is going to be advantageous overall to the wider influence on rates and pricing of the mortgage.” .”
Read More here:
http://www.businessweek.com/news/2012-07-16/mortgage-lender-group-says-libor-woes-won-t-hurt-u-dot-k-dot-homeowners
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