contract says ecb rate, but lender sent letter saying we are on Euribor rate

We are with a sub-prime lender, due to past credit history, we have spent the last five years clearing all our debts. We now have a good credit history, but we can't get away from lender. Our interst rate is currently 5.6 and was as high as 9.4 at one stage. I was going through our contract and it states we are on the icb rate of interest..as it goes up and down but we are on a higher rate. I queried our interst rate last year and they sent a letter saying our mortage was based on the Euribor rate of interest ( this is always about 1% higher) this has left me confused. What rate should we really be on, i would go by the contract. Any advise gladly needed before i ring them as they are not great to deal with. UGGG

If your contract says ECB, then that is the rate you should be on.

thats an amazing story - double-check every wordof the contract If you have a friendly solicitor who won't charge too much ask him/her to double-check.

Actually at present euribor rates are not that high but it depends what euribor rates - 3 mnths 6 mnths etc . Frankly I've never understood what euribor rates the banks borrow on.
A few months ago they were much higher than ECB rates and this is probably when you were overcharged -if you were overcharged.

You may be entitled to a refund but as I say double-check ,there's often something nasty hidden in the small print.

Let us know what happens.