euibor

has anyone got any idea why the euribor has started to rise, im worried that it will get to the level it was at over a year ago?

 It has been steadily rising for a while now. Our mortgage is reviewed 6 monthly and for the last 3 reviews it has increased.

Mark

The Euribor rate is rising and is expected to continue in order to curb inflation fears by the eurozone this is a very simple explanation not the only factor but the main one

Bad news if you have a EURIBOR mortgage

Regards

Rod

www.ournextholiday.co.uk

This message was last edited by rod on 01/02/2011.

Bad news if you have a EURIBOR mortgage

Aren't the majority of mortgages in Spain based on the Euribor? 

I'm still paying a much lower rate than mu UK mortgage!

The Euribor is a better bet than the IRPH, I was tricked in 2005 by La Caixa believing I had a Euribor + 0.85% mortgage, only when I queried why my mortgage had gone up so much when the Euribor was low was I told that I had signed for the IRPH mortgage. My solicitor should have discussed this with me and ensured that I was signing for what I had agreed to.

Basically, the IRPH is the savings club (which many of the supposed banks are) elective rate, they can decide to set it at whatever they like to suit their profit requirements.

Even though the Euribor rate is going up, it's still way below the IRPH level.

ps, My UK mortgage is bank base rate + 0.85% !!  Lucky me for a change.

Best wishes,

Bob