Q.
I currently have a low interest rate adjustable Mortgage Loan, and I have heard that the Libor index that my loan rate is tied too maybe phased out in 2021.
A.
Yes, you are correct the British regulators said on Thursday that they wanted to phase out the interest rate by 2021, replacing it with new measures that are more closely tied to the lending markets.
You should contact your current lender to see how this change will affect your loans interest rate and payments.
If you have a scenario that you would like advice about, please drop me a line to discuss the options
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