A and L

sandspider2000

stolt wrote: »

Dannykos, how long did it take for A&L for them to process your application. i have only just sent paperwork off to abbey yesterday for there 5yr fix at 3.95% and if i have done my calculations right this A&L deal will save me £600. But I'm wondering if A&L are slow i dont want to hold up the process of the house purchase any longer even though my solicitors havent had any contracts from the vendors solicitors yet. I already bank with alliance and leicester so that may help.

Stolt, I spent an hour and 8 minutes on the phone to A&L yesterday, and during that time I was (apparnetly) approved for the mortgage. I also set up the premier account with them as I'm not an existing customer. The paperwork for both mortgage and bank account should now be in the post, and the survey of my (potential) house should be set up either today or tomorrow apparently! As long as survey results are acceptable (I'm pretty sure they should be, but fingers crossed) I think that's it! (These things do always seem to take longer than I expect though).

I was previously arranging a mortgage with HSBC, but it's taken them more than a week to contact me to tell me they lost a signature form I dropped into the branch. So far, A&L seem quicker. Fingers crossed...

If your solicitor hasn't even heard from the vendor's solicitor yet, I doubt there's any desperate hurry with the mortgage.

HTH.

cbrpaul

sandspider2000

Did they do a credit check over the phone on you ?

when i called AandL they said they will send the forms out for the offer , i was told to read them and they will call me back to see if i wanted to proceed, they sort of made of clear that I had to have the offer before i continued !!! stange ,

She also made a point of saying this rate offer is not guarenteed for you yet !!

Also can this mortgage be ported ?

Mudbath

Cbrpaul - they also told me that the offer wasn't guaranteed but today I got paperwork saying it is guaranteed. The letter also says that they've done an additional credit check and if we don't need further checks the valuation will be set up when we return the paperwork.

If anyone has gone for this mortgage make sure you check your keyfacts document. Ours came today and it says that the valuation fee isn't refundable which it clearly is if you're doing a remortgage and you go through with the product. I've phoned up and they've said it is refundable.

I can't wait until this is all done and dusted!

sandspider2000

Yep, I was credit checked on the phone. I also paid the valuation fee there and then, so I think the rate is guaranteed. I'd already read the keyfacts document I printed off, which I think meant they can go ahead as I've read what I need to know. Off the top of my head, yes the mortgage can be ported, but I don't have the docs to hand to confirm.

stolt

strangely enough one person and A&L has told me the valuation isrefunded while the keyfacts and the other person told me it was only refundable on a remortgage.

sandspider2000

I was told the survey fee is refunded because I'm a first time buyer! It's mentioned on the keyfacts, but nothing about FTB. I will check the paper keyfacts carefully when it comes...

stolt

looking at my keyfacts it is definatley portable. Although my keyfacts says ''basic mortgage valuation (inc £125 admin fee) this fee is not refunable and cannot be added to the loan and is payable on application''.

stolt

just phoned A&L up again and mentioned about the free valuation (or refunded valuation) the lady said that there are having a few probs with the keyfacts, sometimes it shoss no refund others it does, she has just revised mine and it automatically showed that it was to be refunded. So if you have a keyfacts that states no refund get them to revise it, strangley enough A&L are the bank that would lend me a bit more than any other bank aswell which is good because we wanted to extend our house so may take the extra while the rates are so low.

cbrpaul

hmm there seems to be abit of conflicting information A&L are giving out then !!!

Ill informed staff ? or just so many people going for this deal they cant print the KFI,s fast enough :rotfl: ?

I should have my KFI today , I will read it tonight !!!!!!!

cbrpaul

ah well so much for 1st class post,

nothing arrived today !!!!!!!