Is 3.99% 5 year fix the lowest it will go ??

kirstypea

bazzab wrote: »

Although the fees are £999, there are no other fees to pay as HSBC cover everything else including valuation. I don't mind paying the fee's as other rates at the moment are a lot more and work out more expensive over the 5 years.

We got the HSBC deal too but have just paid for our valuation No mention of HSBC covering it. Are you remortgaging? Maybe they just don't offer it for FTBs. Gutted if I've paid more than I need to!

adandem

kirstypea wrote: »

We got the HSBC deal too but have just paid for our valuation No mention of HSBC covering it. Are you remortgaging? Maybe they just don't offer it for FTBs. Gutted if I've paid more than I need to!

With the A&L, you pay upfront and then they refund it when the mortgage has gone through. It may be the same with HSBC?

ashington10

Recently applied for the A & L 5 year 3.99% no fees.

Got a phone call yesterday to say that the LTC is short of the mortgage I require. I need at least £121500 and they can only offer £120,250.

This must have valued my home at around £185,000. I asked they for the exact fugure but was told that they cannot tell me. I also asked for a re-valuation to be carried out. My house a corner plot, has a convervatory, new £3,500 patio, summerhouse etc. A 'drive by' valuation would not capture this. Surely a convervatory would add on what I need to get the £121,500. I've paid £320 for the valuation. This seems rather alot for a simple 'drive by' valuation.

Now I'm stuck with either making up the shortfall myself or choosing another product. Obviously none is as good as the 3.99 deal.

There is a house for sale in the street for £204,000 - £19,000 higher than what the A & L valuation must be.

Is there any way I can get A & L to do another valuation?

WestonDave

When I spoke to HSBC they said they do a desk top valuation and if that's OK then they don't bother with a full valuation (for which a fee is charged). However I was talking about a remortgage on a property purchased 3 years ago - I suspect if you are actually buying then they would need to do a formal valuation to ensure there isn't anything which makes the house un-mortgageable.

SONYERIC630

ashington10 wrote: »

Recently applied for the A & L 5 year 3.99% no fees.

Got a phone call yesterday to say that the LTC is short of the mortgage I require. I need at least £121500 and they can only offer £120,250.

This must have valued my home at around £185,000. I asked they for the exact fugure but was told that they cannot tell me. I also asked for a re-valuation to be carried out. My house a corner plot, has a convervatory, new £3,500 patio, summerhouse etc. A 'drive by' valuation would not capture this. Surely a convervatory would add on what I need to get the £121,500. I've paid £320 for the valuation. This seems rather alot for a simple 'drive by' valuation.

Now I'm stuck with either making up the shortfall myself or choosing another product. Obviously none is as good as the 3.99 deal.

There is a house for sale in the street for £204,000 - £19,000 higher than what the A & L valuation must be.

Is there any way I can get A & L to do another valuation?

y'd be better trying to make up for the small shortfall on your own rather then paying the 320 fees which A&L will NOT refund as this is a repeat valuation . get some frients to help out and pay them off over the next 2-3 months . no point paying the additional fees OR loosing a good deal over such small difference

SONYERIC630

WestonDave wrote: »

When I spoke to HSBC they said they do a desk top valuation and if that's OK then they don't bother with a full valuation (for which a fee is charged). However I was talking about a remortgage on a property purchased 3 years ago - I suspect if you are actually buying then they would need to do a formal valuation to ensure there isn't anything which makes the house un-mortgageable.

I had to remortgage and A&L did a full valuation ....guess it depends on whether they have lent to someone down the road before or not

Econimiser

Dithering Dad you asked about posting of recent deals.

See Thread- Long Term Fixed Rate Deals

Cheers

Mudbath

Well our completion has happened and it hasn't!!! We've been told it's happened but our old offset account (now our current account) is showing that we're £89000 overdrawn. I've phoned up and they say it doesn't update until midnight but prior to that we can't take any money out. Just as well we're don't need any money tonight!! I'll believe it's all gone through at midnight!

cbrpaul

A+L solicitor called Friday , completion is this Thursday , I only sent the reply to the solicitor last Wednesday, now thats fast !!!!:D

fluffig

Just an update from us. Well we've had the mortgage offer now, 3.99% on 5 year fixed just as they promised - taking passports etc. in to solicitors tomorrow, completion planned for 30 April