A and L

cbrpaul

HenryMungo wrote: »

The A&L Premium account should have £500 paid into it monthly - this money can be DD'd out the next day -

I had to set up a premium account to get the mortgage.

I have decided to have just over the monthly mortgage payment paid from my existing account into my Premium account - then have the mortgage paid from my Premiium account.

Simples

HM

now that sounds a good way of doing it , rather than having to change you account over all together !!!

cannyscot41

thats what i have done henrymungo and saving 3 yesrs to boot so im reasonably happy.as i have always had my mortgage with them, no question has been asked regarding house price,but should be ok.as i posted this original topic and tip i hope someone makes out of this deal.it really is a no brainer for me

cbrpaul

im gunna give it another week or so and make a decision then !!

Im hoping the deals will drop just abit more , ive read theres a possibilty of 3.50% for 5 year fixed for good ltv of 60% and below

But If I miss it , I can only blame myself !!!

damianmkv_2

have you ? I'd definately go for 3.5% for 5 year fix..

A&L told me on the phone that my exit fee was £295 but then sent a leaflet out saying £195 for mortgages taken pre-August 2004 ( which I did )...I assume they've just made a mistake on the phone ?

cherry16

Thanks for the heads up on this fixed rate. We are with A&L and are on a +.75 tracker rate, however, we did say that if interest rates dipped to lower than our recently expired 4.34 then we would go for it. Was still hesitant but we've taken the plunge and peace of mind is great (it's good when the rates are low but we will feel differently when they eventually start to increase...we would then panic and probably end up getting a worse deal). No fees and I'm going to just transfer £500 into the premier account with it being transferred out the next day. A&L have been great over the phone and in branch when I opened up the Premier Account.
Thanks again!

sandspider2000

cbrpaul wrote: »

Im hoping the deals will drop just abit more , ive read theres a possibilty of 3.50% for 5 year fixed for good ltv of 60% and below

Hi Paul. Can you remember where you read this?

Thanks,

Giles

cbrpaul

I believe it was " The times online" a week or so ago !!!

But did say for customers with a low LTV though , and didnt mention anything aobut fees !!


Does the A&L deal have tie in's after the 5 year fix is up ???

sandspider2000

I've not looked into the A&L deal in detail, but I would assume there's no extended tie in. (I.e. once the 5 years are up you're free to go). This seems to be fairly standard practice.

Mudbath

There isn't an extended tie in and they phoned me back today. We're going with it if the ltv is below 65% - we reckon it's about 45% so unless they drastically undervalue we should be ok. Thanks to the OP for posting these details. If it does go lower I'm still very happy with this!

mecrazybenz

Yup....went for it today too :j

Did the application over the phone. One thing to bear in mind though is if you do get accepted, the they will require the valuation fee of £370 to be paid upfront (if you want them to hold the product for you). This is however refunded when you complete the mortgage.

Note though, if you decide not to go ahead with the mortgage for whatever reason, or they value your house less then you expected and you fall below the maximum LTV then they will decline the mortage and NOT refund you the valuation fee.

Just somethinig to bear in mind. It is a very good deal in my opinion and currently the best 5yr fixed at the moment.