I had put in a request to fix interest rates on one loan.
The bank called me back today and said we're sorry you cannot fix as that fixed rate period would end after your interest only period ends.
So - they are only supporting fixed rates that end "within" the interest only period? If you only have 2 years to go on your interest only period, does that mean the only fixed period you can take is 1 year rates?
Seems crazy, is this all banks or just this one bank or one person being silly?
The bank called me back today and said we're sorry you cannot fix as that fixed rate period would end after your interest only period ends.
So - they are only supporting fixed rates that end "within" the interest only period? If you only have 2 years to go on your interest only period, does that mean the only fixed period you can take is 1 year rates?
Seems crazy, is this all banks or just this one bank or one person being silly?