Fixed rate being phased out

[Finlandia]

I heard there is talk of phasing out fixed rates by the end of 2012, my question is, I am currently on a variable rate and was considering fixing it, will the banks allow me to get a fixed rate and if they do will it be phased out by 2012, or will they have to let it runs its course for say 5 years if thats is what i fix it for.

 

[robd]

I heard there is talk of phasing out fixed rates by the end of 2012, my question is, I am currently on a variable rate and was considering fixing it, will the banks allow me to get a fixed rate and if they do will it be phased out by 2012, or will they have to let it runs its course for say 5 years if thats is what i fix it for.

If you sign a deal, for a fixed rate, then it runs till that deal expires. e.g. Say 2,3,5 or 10 years.

Phasing out just means they won't offer them in the future.

Some banks have already phased them out by making the charges prohibitively high.

Only people who can definitively answer your question as to whether they'd allow you to fix is your own bank, a mere phone call away.