understanding financial jargon
London Inter-Bank Offer Rate ( LIBOR )
This is the interest rate at which financial institutions in the UK borrow and lend money between each other in the wholesale market. This market exists to facilitate liquidity in the banking system, and can be used as a measure of short term credit conditions. Many corporate loans and some mortgages are based on the London inter-bank offer rate, and are known as a LIBOR mortgage.
What to do if you need more help
If you need more help with your specific commercial loan, mortgage or insurance requirement please speak to a professional financial adviser.
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