C&G 2 Year Fixed Mortgage now 2 years 2 months

sgtbash_2

Hi All,

I have just spoken to C&G about my mortgage and they have said that the end date of my fixed term is the 31st of December 2009

I took out the mortgage early November 2007 on a 2 year fixed term.

But it is now looking like a 2 year and 2 month fixed term.

Can they do this?

Obviously if i was fixed on a low rate - this would be great, but sadly im not and need every penny saved when it drops off its term.

They said its in there ts & cs but there are that many i dont even know where to start.

Any help would be greatly appreciated

Thanks

Dan

Lynn11

Not sure about C&G but many lenders stated the end date of the fixed term of the mortgage ie that it finishes Dec 2009 and I think this is what has happens therefore you have 2months extra than 2yrs.

opinions4u

sgtbash wrote: »

I have just spoken to C&G about my mortgage and they have said that the end date of my fixed term is the 31st of December 2009

I took out the mortgage early November 2007 on a 2 year fixed term.

But it is now looking like a 2 year and 2 month fixed term.

Can they do this?

The term will be clearly explained on your Key Facts document. It is virtually unheard of for a lender to offer a fixed rate that lasts for exactly two years. The fixed rate usually expires on a specified date.

Obviously if i was fixed on a low rate - this would be great, but sadly im not and need every penny saved when it drops off its term.

Which shows that it isn't an attempt to rip you off. You simply didn't check your paperwork carefully at the start.

They said its in there ts & cs but there are that many i dont even know where to start.

Dig out your Key Facts document.

Any help would be greatly appreciated

Unfortunately, the help I've given won't change anything for you. But it will confirm that C&G are acting fairly.

- how much do you owe?
- how much is your house worth?
- what is your fixed rate?
- will you go no to the C&G SVR (2%+BofE) at the end of your fixed period?

Answering these questions may help identify other options for you.