why has my interest rate changed.?
by Mortgage Rates on Monday, November 15th, 2010 | 4 Comments
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The lender probably has reduced their standard variable rate.
This isnt linked to the bank of england base rate, the lender can choose to do this at any stage.
You must be on their standard variable rate.
You will have to contact your mortgage holder. They are the ones who changed it. It may be that you had an ARM and since the rates have gone down, they had to pass on it on to you.
You probably have a variable rate mortgage and the index it’s tied to went down.
There is many reasons for fluctuations in mortgage interest rates the website i’ve included in my sources might/should be able to provide you with a new perspective….