Mortage tie in ends at end of Jan (A&L) opinions please

gollfy

Hello
just after a few opinions please as my mortgage fixed rate is coming to an end with the alliance and liecester at the end of jan.

House Value : 89000 (According to a&l)
Owe : 51272
LTV : 57% (According to a&l)

They have offered me a 2 year fixed at 3.99 with a £384 fee (0.75value), and wondered if anyone knew of a better deal out there?

Was thinking about a tracker but never had one before and dont know whether now is a good time to get one?

Opinions welcome
Thanks all

luckyfool

What deal does your mortgage revert to?

gollfy

reverts to svr
not sure what the a&l svr is at the moment? (5%ish)

pritsim

need to see what your mortgage reverts to and secondly 89k which alliance and leicester have quoted is through Halifax price index.which if you try to value your house with another bank for a mortgage transfer might not be same...so your LTV could increase and so could the number of good deals as well...as with 60% ltv there are better deals out there...but it all depends on house valuation.

luckyfool

gollfy - You are sure it does not revert to a term tracker at a margin above base rate? This was common with some products.

pritsim

currently svr is 5.34% from jan 2009.i came out of my fixed 2 months ago

gollfy

Definatly goes to SVR

luckyfool

As 2 yr fixed rates go you would not get any better deals elsewhere. The question is whether they will offer you anything else (e.g. 5yr fixed rate?

What type of deal do you want? If its a short term fixed rate, then grab what they are offering you.