alliance and leicster tracker

tommyboy33

hi

i am a exsiting a and l customer and i was thinking of taking out there 2 year base rate tracker 5.39% for 2 years , im not sure about overpayments would i be able to withdraw any overpayments i made , and would they charge me interest on this , the mortgage is only for 20 thousand pounds i was was thinking of using stozing as a way of ofseting the interest

does that make any sence

magburner

You could to something extreme and ask A&L how the product works!

Hope that makes sence, oops sense!

tommyboy33

oh right yeh , thanks very much for your most help full advice, really i could ask A&L don't know why i didn't think of that , I'm honored you took time out your busy day to reply so constructively to my question

I'm glad to see the spelling police are on there toes too, guilty your Honor but if I'm going down I'm taking you with me
EXHIBIT A
You obviuosy know where your next carreer move is then

EXHIBIT B
Is the dole q looimg for you then
i could go on but the prosecution rests

ill leave you with one final thought
if you can't say something nice, don't say anything at all

magburner

Then ask sensible questions.

You have spent more effort slagging me off than thinking about your own mortgage.

feisty1

i cant uderstand why so many of u come on here & ask for information specific to yr mortgage, surely it would make sense to hear it from the "horse's mouth" ie pick up the fone & speak to yr lender...not rocket science! Its worse when i read "advice pls".......if u want advice go to a advisor, not diy armchair frustrated "advisors"......... probably yr biggest financial commitment & u ask anybody????

dimbo61

Hi tommy
As you only ! owe £20k if you take out the right deal now you should get a deal that will clear your mortgage ( to save any remortgage fees )
Dont know what you are paying now or what you can afford each month but I would see the nice man or lady at A & L and see what they can come up with. Little point moving lender if you only owe £20k.
The quicker you clear the mortgage the less interest you pay and sooner you are mortgage free.
GOOD LUCK

tommyboy33

Thanks Dimbo
yes i agree no point in moving my mortgage , but ill get myself on a better rate for now , every little bit helps at the moment, thanks for the reply i appreciate it

i think i need to clear up a few points here ,i didn't come on here to get any kind of financial makeover like some have suggested nor do i expect a stranger over the Internet to be my own personal adviser, my post was just asking about the workings of a tracker mortgage regarding overpayments and such,nothing more nothing less, probably a really simple thing to find out by picking up a phone or like asking one of you , i don't know what i was thinking about asking the most inane question of all time on the history of the Internet

but consider me well and truly scorned never to return to darken your doors again

dimbo61

Hi tommy
just had a quick look on the A & L website at the 5.39% tracker and yes you can overpay and borrow the overpayments back if you want to.
Fee not bad either as you are an existing customer.
using credit cards to offset the mortgage is covered on another board but its becoming very difficult due to fees from balance tranfers.
Save hard and overpay you could be mortgage free in 2 years ( tall order ! )