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Posted: Thu Feb 07, 2008 12:37 pm
by mikebdomain
Bank of England Reduces Bank Rate by 0.25 Percentage Points to 5.25%
Posted: Thu Feb 07, 2008 12:56 pm
by size5
Mike, is the LIBOR still high?
Posted: Thu Feb 07, 2008 1:14 pm
by mikebdomain
It depends on the lender and when they set their LIBOR rate
Most sub prime lenders will review their LIBOR rates 3 monthly, they will pick a date within the month at they will be setting LIBOR for the following 3 months.
The relationship between LIBOR and the BOE Base rate was pretty much broken with the onslaught of the credit crunch.
Lenders currently have LIBOR rate varying from 4.99% with Bristol & West to 6.37% with Advantage and up to 8.19% with TMB.