14 Jan 2009 8:39 PM:
Would someone be kind enough to explain to me how the euribor review works please? For example, I took my mortgage out in December a couple of years ago and I am on a 12 month review plus 1.10. I am assuming then that I should of had a review in December. Do the bank take the euribor for December 08 and add 1.10 and then I either get a reduction or an increase in mortgage payments? I'm assuming that it will be a reduction as the euribor has gone down. Am I right in thinking that the euribor rate is dependent on whether you are on a 3 month, 6 month or 12 month review?
Any information would be appreciated.
Thread:
Euribor Rates
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