Current Rate: 4.88% The LiveMore Variable Rate is reset quarterly, on 15 January, 15 April, 15 July and 15 October. If the date is not a Business Day, the rate will be reset on the preceding Business Day. Any change to the rate becomes effective the Business Day following the date on which it is reset. On each reset date, we will review and may reset the LiveMore Variable Rate in response to one or more of the following factors: (a) a change in our reference rate since the last review; (b) a change or expected change in our costs of funding your loan since the last review (for example, where the interest rate on the money we borrow to fund your loan changes); (c) changes in technology or systems we use that cause our costs to change; and (d) where a change in the laws or regulations that apply to us require a change to the rate or cause our costs to change. In the event of a change relating to (a), (b) or (c) above, the LiveMore Variable Rate will never be reset to more than 1.00% above our reference rate at the time of review. Our reference rate is the 3 months historic compounded daily SONIA rate published by the Bank of England, rounded up to 2 decimal places.