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Re-Mortgaging for the First Time!
ChloeWhite
Posts: 6 Forumite
Hi all, I am re-mortgaging for the first time after being a first time buyer and having a 2 year fixed mortgage. But it looks like my initial fixed deal runs out before the 2years, is this right?
We have a 2 year fixed deal that expires on the 31/01/2024, but we didn't start our mortgage until May 2022, so expected the deal to end in April/May 2024.
Does this sound right? Can anyone explain to me why that would happed?
Thanks
We have a 2 year fixed deal that expires on the 31/01/2024, but we didn't start our mortgage until May 2022, so expected the deal to end in April/May 2024.
Does this sound right? Can anyone explain to me why that would happed?
Thanks
Sealed Pot Challenge #068 Declare 31st October 2019
Save £12K in 2019 #022 Target £3000
Save £12K in 2019 #022 Target £3000
0
Comments
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Most mortgages have a fixed end date.
When you apply it is normally around 27 months before the product finished, they work on the assumption most people will take around 3 months to complete, but if it takes you closer to 6 months (which I am guessing happened with you?) then you end up with less than 2 years.
If you have a look at your mortgage offer, it will probably confirm the end date of your product.I am a Mortgage AdviserYou 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.0 -
If you search on here you will find this has been asked loads.It would have been clearly stated on there paperwork you received and on your annual statement.0
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Yes it is perfectly normal. It will all have been clearly written down in the mortgage offer.0
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