Soldato
No it's an undergraduate masters (MEng). I don't graduate this year, just go straight into the 4th year.
I could have chosen to bail out at the end of this year, but I enjoy it way too much, and 90% of people stay on anyway.
I think next year it's simply pass, merit, distinction or fail, which roughly align with 2:2, 2:1, first and 3rd.
If it's MEng then you will keep the classifications of 1st, 2:1, 2:2 etc as it's still an undergraduate course. At my University, the merits/distinctions etc were only for postgraduate taught degrees - I did the same modules as them for my MEng qualification but received my undergrad qualification at the end of it.
The people doing MEng always got higher grades than the "proper" MSc postgraduates too in the same modules too