Mortgage Transfer with A & L

fluffykittens

My fixed deal comes to an end in December with A & L.

Since taking the mortgage out my credit rating has suffered with non credit card payments due to financial difficculties.

I have never missed a mortgage payment with A & L and never will miss a payment. I notice from browsing the boards that some lenders do not carry out credit checks on existing customers, is A & L one?

I am more than happy to remain with A & L and I realise a remortgage is out of the question (which hands up is my doing) but will I be able to choose from their range of products ( Presently I need the lowest interest rate to maintain payments) As I notice that rates range from 6.49 variable to 7.19 fixed.

Thanks in advance

fluffykittens

just to add im not after further borrowing I just want to simply transfer my deal for the same amount.

My term was forty years (single person so had to do this) on a 2 years fixed, I would like to carry the mortgage on for 38 years (minus the 2 years i had on the fixed)

UK007BullDog

Usually the lender will not do a credit check. But they might. If they do and find your negative credit file they might not offer you a new deal, but will keep you on their SVR.

If this happens look for a new deal with a subprime lender using a whole of market broker.

If everything goes as planned, i.e., no credit check, go for a longer fixed deal than the usual 2 years. If you plan to live in your property for a very long time then fix for 5 years at least. This might help you to budget and fix your credit card problems and give you a longer time to sort yourself out and also clean your credit file for the next time you need to remortgage.

Also look at an interest only mortgage, use the saved money to pay of the credit cards and then revert to a repayment mortgage, it will only cost you a phonecall and a small fee to revert back. But make sure you do that or you might end up losing your property.

easyfinance

Unfortunatelly for you A&L is very good at spoting this thinks. I know some lenders which don't check all credit rating agencies. One of them is C&G, they use only Equifax not Experian ... you really need debt advise ... to see what could be done ...

Anyway you could check your credit rating Experian is free and Equifax is £10.

Although I am a financial advisor this is not financial advise.

Eugene

UK007BullDog

Eugene, you need to add your sig if you want to post on here.

fluffykittens

just my look my mortgage company would lol.

Im planning on being in this property for many years so thanks for the sound advice Bulldog!!

They can not take the mortgage off me though so i suppose im in a better situation than a lot of young wannabe buyers

herbiesjp

fluffy

First port of call will DEFINITELY be A&L

Nearer the time call them and ask them what rates you can switch on to.

I have had a few clients similar to you with A&L, and they have been offered exisiting borrower deals no questions asked

fluffykittens

Thanks so much. For the last few months I have been whittled silly with worry, should have come here sooner!