Libor Reclaiming

There is currently very little information available at the moment about whether or not people are likely to receive compensation from a Libor Reclaim should they have taken out finance that was linked to the Libor rate.

Around 2% of mortgages were Libor linked and a whole host of other financial products, such as credit cards, have been affected by this scandal too so it isn’t only people with mortgages in a position to benefit from compensation, should compensation become available.

As of yet there have been no test cases, presumably people are waiting to see the results of government inquiries into the scandal, which could take quite a while to come to a conclusion.

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