Fixed rate mortgage deal end date

andy_geo

I bought my house in October 2021 with a two year fixed rate mortgage. So I expected to re-mortage by Ocotber 2023.

I  checked my morgage account online and it says that my deal is expiring on the 10th of August because that's when the mortgage offer was made. 

Is this how it usually works? I expected to pay for two years my current rate, not 20 months!

housebuyer143

Yes, the fixed term can start from the offer date, the completion date or can end at an arbitrary end date. 

Edi81

check your mortgage offer document. It will clearly state that the fixed rate is up
to DD MM YYYY. 

amnblog

Fixed rates most commonly run to a set date rate than 24, 36 or 60 months from completion.

If you pick up a two year offer, the expiry date may be some 27 months ahead, if you then have a delay in completion, the remaining term on the rate at that completion can be under 24 months, as in your case.