LIBOR loans
Larger commercial loans at money market rates
For larger loans, LIBOR (London Inter Bank Offered Rate) funding lets your business access money market rates and match your funding needs to the term and currency required.
Key features and benefits:
- Minimum loan £500,000 – with no maximum
- LIBOR linked interest rates – can be fixed for 3, 6, 9 or 12 month periods, renewable thereafter
- Long term borrowing – with a maximum term of 25 years
- Flexible repayment terms – options for capital and interest, interest only or capital only loans
- Multi-currency – reducing your exposures to fluctuating exchange rates
- Capital repayment holidays - available for up to 3 years
Eligibility
LIBOR loans are typically offered to larger corporate customers who need to borrow sums over £500,000. Your relationship manager can advise you whether this option is available to you.
Early repayment
There may be a substantial charge to pay if you choose to repay a LIBOR loan before the end of the agreed term. We recommend that you seek legal advice before entering into such an agreement.
Capital repayment holidays
If you take a capital repayment holiday interest will continue to accrue during the payment holiday and your monthly payments may increase afterwards.
Any property used as security, which may include your home, may be repossessed if you do not keep up repayments on a mortgage or other debt secured on it.
Product fees may apply. Your relationship manager will be able to advise you of fee information.