Fixed rate 100% mortgage with alliance and lecister coming to end... help!!

tarakul

Good point! Hmm maybe I should be brave and hold on. Kinda a game of chicken with alliance, me and the bank of England.

Decisions decisions...maybe even go for a tracker mortgage - can you change a tracker rate to a fixed rate at any time or maybe that depends on the deal/bank.

Have so much to ask alliance. Hope I don't get a muppet on the line.

beecher

If you go on a tracker you're likely to have to pay an ERC to come off it I think. You can always phone them more than once so don't worry about not getting all the answers straight away. Important things just now are:

1. will they give you a deal
2. do you have to commit to it or can you choose another deal closer to the time/go on SVR if that's the best option for you

Once you've got details of the deals they are offering you can rethink your options. You've plenty of time.

stuarthouse

I am actually shocked at A&L svr which currently is way above nearly everyone elses 3.69-4 is the evarge, 5.09 from A&L is daft.

stuarthouse

tarakul wrote: »

.maybe even go for a tracker mortgage - can you change a tracker rate to a fixed rate at any time or maybe that depends on the deal/bank.

The tables soory to say show there are no trackers at 100%.

As far as changing to a fixed from aa tracker, it appears most allow this withOut redemption (i.e. no ERP), esp if you stay with them.

leicsmark

I'm in a very similar situation, but I will be going onto Standard Life's SVR which is currently 5.54% Ridiculous.

tarakul

Hey mark.

That is terrible that standard life svr is so high. Did you call them to discuss?

beecher

leicsmark wrote: »

I'm in a very similar situation, but I will be going onto Standard Life's SVR which is currently 5.54% Ridiculous.

They are also reviewing the last base rate cut so it could still go down.

leicsmark

I've no idea what I could say to them. I think they are trying to profit out of this situation. My 6% fixed expires in July so maybe it will drop a bit before then.

I think they just want to get rid of their mortgage book. But since I won't be able to leave due to LTV i'm going to get screwed over.

leicsmark

beecher wrote: »

They are also reviewing the last base rate cut so it could still go down.

Yes, just checked. Its going down by 0.2% to 5.34% in March. That's still incredibly high relative to other banks.

Fliss_M

tarakul wrote: »

Good point! Hmm maybe I should be brave and hold on. Kinda a game of chicken with alliance, me and the bank of England.

Decisions decisions...maybe even go for a tracker mortgage - can you change a tracker rate to a fixed rate at any time or maybe that depends on the deal/bank.

Have so much to ask alliance. Hope I don't get a muppet on the line.

While am not trying to put you off as we took out and A&L mortgage of 95% (new build to boot and cashback) in 2006 and after calling to double check we are set to go onto a tracker of 0.99%+BOE rather then SVR. BUT I wouldnt get your hopes up. There are NO mortgages out there for 100%, new or current customer, and so while you may try and negotiate with them, I doubt that if you set to go on SVR they will lower it. You have no barginning chip, no 'well I will do this' as you cant go anywhere else. Your over a barrell am afraid.
And A&L SVR drops have been rediculas, can only think its to do with the amount of high risk mortgages that they have on their books.