2 year Fixed

Murtle

Hi I am remortgaging at the moment for a 2 year fixed with Abbey National, now they have sent me the details of this and whilst reading though it read that the fixed period is until 02/02/08...making it 28 months?!

Is this normal for a 2 year fixed (it wasn't when I took the first 2 year fixed so am wondering what is happenng?!)

Any ideas anyone???!!

Thanks

M

herbiesjp

each lender has a different way of setting up their schemes, and what is being offered is quite normal.

Some lenders have set terms for their schemes from the completion date of a mortgage - for example you complete tomorrow and the fixed rate will run for two years from tomorrow.

Some lenders have got set expiry dates such as this Abbey scheme, which means that no matter when you complete on the mortgage i.e. tomorrow or two months down the line, the fixed rate will end at the specified date.


HTH