Fixed sum loan

Samuel O

Junior Member

Joined: Jan 2017

Posts: 1
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Fixed sum loan

19th January 2017, 16:42:PM

Please help.
I took out a variable interest fixed sum loan with a lender.
The lender increased the rate when the bank lending rate increased, but refused flatly to reduce the rate when they were reduced by the BoE.
Does this not contravene the contractual term for the loan?

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Fixed sum loan

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