At Interbridge Mortgages, we’re committed to being transparent in what we charge you and the interest rates you pay.
We refer to the interest rate we charge you as our Reference Rate.
Generally, Reference Rates will be based on one of two published rates in the UK, Bank of England Base Rate or SONIA.
All Interbridge Mortgages loans have a Reference Rate which is based on the Bank of England base rate.
A Reference Rate is the name we use at Interbridge Mortgages to refer to the interest rate we charge you for borrowing from us. All our loans at Interbridge Mortgages have a Reference Rate based on the Bank of England base rate.
All our loans at Interbridge Mortgages have a Reference Rate based on the Bank of England base rate.
SONIA stands for the Sterling Overnight Index Average and is an interest rate benchmark. It looks at transactions and is an average of the interest rates that banks pay overnight to borrow money from other financial institutions or investors. It is published every business working day by the Bank of England. Interbridge Mortgages does not currently use SONIA as a basis for our Reference Rate.
