2 year fix that doesn't last for 2 years

stormCat99

Hello,

I'm after advice/opinions on my mortgage. On 20th June 2003 we took out a 2 year fix with Abbey National.

I've had this date etched in my mind, and planned to start looking to remortage in about April, 2 months before the 2 year fix ran out.

Today, by chance, I came across my most recent mortgage statement. Although I had read through this when it arrived, I noticed it stated the end date was 3rd May 2005, and not 19th June as I'd expected.

I've rung them up to enquire, and they basically told me that the 2 yr fix has it's own end date, regardless of when you took out your mortgage. This seems rather unfair to me, as I'm not getting what I signed up for. If I hadn't have just happened to look at my statement, I would have left it too late to remortgage before the SVR kicked in, luckily this won't happen now as I can set the wheels in motion straightaway.

Has anyone else had a similar experience? Does anyone with more knowledge know if this is allowed, as it seems to me like false advertising? After all, a 2 year fix should last for two years in my book!

Thanks

brannyrhino_2

Quite common really and just goes to show you still have to read the small print to make sure you know what your getting.

stormCat99

Thanks brannyrhino, makes me feel a bit better to know that it is more widespread. I usually read every last T&C of anything I sign up to, so can't understand how this slipped past me. I'm about to remortgage so I'll not fall for the same trick again!