Problems with fixed rate ending

katelina

We changed 2 years ago from a discounted to a 2 yr fixed rate deal.
Just got all the paperwork out and noticed that it is all wrong.
Its says 2 yr on one part starting june 07 but then goes on to say finishes sept 2011 and on another sheet says 5 yr fixed :eek:
I have spoken to a member of the mortgage team who has had a quick look for me and said on the notes it says I asked for 2 yr deal and can't understand it at all because if it was 5 yr it wouldn't be finishing till june 2012.
Where do I stand legally? Have I a case even though I've signed it without checking? Because the paperwork is all wrong will I be able to break it?
I hope so but am not feeling very confident.
They are looking into it and will call me back.

beecher

Since you signed it without checking then I doubt if you've any case at all. However if the paperwork says 2 years on one part and 5 years on another then I'm not sure. What does it say on the actual Key Facts illustration?

katelina

Its dated 30 may 07 and says:

5yr fixed 5.19% until 31/08/11

which makes it more like 4years which as the advisor i spoke to said they never do. It confused him.

katelina

Aha....I've got it.
The origanal deal was in Aug 2006 so therefore changing the deal would have made the dates correct if I'd asked for a 5 yr. But I didn't and I paid a fee for bloomin changing it to a 2 yr deal. I thought the 2 yr deal would have started from the day I changed. I'm totally confused. Easily done.

dimbo61

Wait for your lender to ring you back or give them a call in a day or two.
Whats the LTV and what deals do they have now?
Can you save money by getting a cheaper deal
5.19% is not bad

was the fee you paid for 2 years or 5?

katelina

Fee we paid was for 2 years. Wouldn't be worth breaking the deal.
Was told someone would ring by close of business today. Will give it another day or 2 just in case. Don't hold out much hope but was hoping to have a extra 10k to do the windows. LTV is around 60%.