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Natwest remortgage - confused by dates!
janninew
Posts: 3,781 Forumite
Afternoon All,
Myself and my husband started a mortgage with Natwest in August 2014, a 2 year fixed rate.
So recently I started thinking about a new rate ready for ours ending. Logged onto the website and apparently ours isn't up for renewal until 30th November? The start date is clearly shown as being mid August and we are currently on a 2 year fixed rate.
Can anybody explain where the November end date comes from? Not that it matters to much, we are on quite a good rate so a few months extra won't make much difference, just interested.
For information, we've not had any payment holidays or missed any payments.
Thank you in advance.
Myself and my husband started a mortgage with Natwest in August 2014, a 2 year fixed rate.
So recently I started thinking about a new rate ready for ours ending. Logged onto the website and apparently ours isn't up for renewal until 30th November? The start date is clearly shown as being mid August and we are currently on a 2 year fixed rate.
Can anybody explain where the November end date comes from? Not that it matters to much, we are on quite a good rate so a few months extra won't make much difference, just interested.
For information, we've not had any payment holidays or missed any payments.
Thank you in advance.
:heart2: Newborn Thread Member :heart2:
'Children reinvent the world for you.' - Susan Sarandan
'Children reinvent the world for you.' - Susan Sarandan
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Comments
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A lot of lenders (Natwest included) will end their fixed rates in tranches, so people that started their 2 year fixed rates around July, August, Sept etc will all have their deals end on 30th November as opposed to ending exactly 24 months after the completion date.
This makes it easier for the banks account management.I am a Mortgage BrokerYou should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.
This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Okay, thanks very much. Makes sense for the banks I suppose.:heart2: Newborn Thread Member :heart2:
'Children reinvent the world for you.' - Susan Sarandan0 -
Systems are geared for products to end on specific dates. Makes rolling over to variable rates far more straightforward for interest calculations etc.0
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Your mortgage offer will tell you the terms of your mortgage product. Does it expire on 30/11/16?Okay, thanks very much. Makes sense for the banks I suppose.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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