Remortgage

alecris74

have a mortgage with Allliance & Licester had fixed rate for last two years time is now up but reapayments gone up by £300 per month they said they sre not passing down new reduced interest rate anything i can do with them apart from moving
ps cannot move mortgage before 1st January 2009 otherwise incur early redemtion fee approx £6000

feisty1

alecris74 wrote: »

have a mortgage with Allliance & Licester had fixed rate for last two years time is now up but reapayments gone up by £300 per month they said they sre not passing down new reduced interest rate anything i can do with them apart from moving ps cannot move mortgage before 1st January 2009 otherwise incur early redemtion fee approx £6000

Look out yr original documents and read what is stated on there as to what happens when yr fixed rate ends and see if it stacks up.

keith1950

Hi, would be best to move any from A and L as most of their mortgages were passed on to / were administered by SPML / Capstone and are considered by some to be in the ' sub prime ' market. I cannot see that the redemption fee is even an issue as it will probably take a couple of months for any remortgage to go through so you would have to pay your increased payments untill any remortgage goes through. The longer you delay the more extra £300's you will have to pay. Act now to remortgage.