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

cbrpaul

dannykos wrote: »

I'm pretty sure they said to me that it was MY responsibility to set up the account... anyhow.

:eek:

I better do it online then , oh and I notice the £100 incentive has been removed , ah well cant haveit all

sandspider2000

SONYERIC630 wrote: »

guys one more thing...A&L calulates interest monthly...(and not on daily balances like say the halifax) ..this means that if we make our mortgage payments on the 1st of each month they keep it interest free till the end of the month
DOESNT THIS MEN THAT WE SHOULD SCHEDULE OUR PAYMENT DATE FOR THE END OF THE MONTH???

Hi Sony.

Seems logical - keep it in your account gathering interest for as much of the month as possible. I think I set my payment for the 28th of the month, as that's 3 days after payday too. NB - if you have the A & L Premier Direct current account paying 5% interest for the first year, it makes sense to transfer your money into this account at the start of the month, even if you don't actually pay the mortgage (from this account) until towards the end of the month. 5% interest is a great rate!

HTH

Giles

cannyscot41

i have posted this before please check that all is in order ie.. mortgage,standing order if transferring your £500 from another bank to A+L premier acc,ensure A+L know that they will be taking your mortgage from this acc as all of this is your responsability!!

cbrpaul

just setup my premier account up on the phone , they wanted to know everything again including another credit check


Also one thing ive just noticed also :rolleyes: ,

even though my mortgage was transfered today , the actuall funds from A+L was sent yesturday to the solicitors,and sat in their bank account for 24hrs, so therefore I started paying interest to A+L for the funds from yesturday, which means I paid interest too two different lenders for nearly £300k for one day !!!! :rotfl:

Trying_to_be_good

cbrpaul wrote: »

Also one thing ive just noticed also :rolleyes: ,

even though my mortgage was transfered today , the actuall funds from A+L was sent yesturday to the solicitors,and sat in their bank account for 24hrs, so therefore I started paying interest to A+L for the funds from yesturday, which means I paid interest too two different lenders for nearly £300k for one day !!!! :rotfl:

That's normal with a re-mortgage, you get to pay double interest for at least one day.

Last time, my solicitor said not to go for a Friday completion, as if there's any hold up you get to pay double for the whole weekend rather than just one day.

cbrpaul

Trying_to_be_good wrote: »

That's normal with a re-mortgage, you get to pay double interest for at least one day.

.

i would say a " prefered method" by those involved , rather than the norm ,

It didnt happen with my last re-mortgage

ashington10

I posted a previous comment on this thread regarding the A & L LTV. Well I phoned them today and asked if I was on the edge for the 65% LTV why they did not get in touch and ask to enter the property.

No explanation was given by the Wigan Call Cente. I'm really annoyed. They have used a figure - probably calculated off paper of £185,000 for a house that is worth loads more. No house has sold for as little as this, nor is there a one for sale for as little as this.

What can I do people to get this decision challenged.

Woby_Tide

cbrpaul wrote: »

jocktherab,

I will call them later

Ive just had a text from the solicitors " your mortgage has now been completed, thankyou for using us"

So i guess im done , and am now an offical A+L customer ,

But i believe the first mortgage payment to A+L wont be until 1st June 09 though for all of May and with part April's interest added also ,

My offer said that the first payment if I complete on May 1st would be 15th June. I got called today saying that I will complete Monday, however they say that the first payment will be 4 weeks after the funds leave A+L so c. 24th May. They did say it won't be a 'high' first payment for that reason though as it isn't covering 6 weeks interest.

cbrpaul

Woby_Tide wrote: »

My offer said that the first payment if I complete on May 1st would be 15th June. I got called today saying that I will complete Monday, however they say that the first payment will be 4 weeks after the funds leave A+L so c. 24th May. They did say it won't be a 'high' first payment for that reason though as it isn't covering 6 weeks interest.

yes i have just been told the same on the phone :rotfl: !!!

If i want, I can move the payments to the end of the month after the 1st months payment ,

Who said re-morgtaging was easy !!! my old mortgage account is showing £800 in credit , but i cant touch it as its been frozen :T

Woby_Tide

cbrpaul wrote: »

yes i have just been told the same on the phone :rotfl: !!!

If i want, I can move the payments to the end of the month after the 1st months payment ,

Who said re-morgtaging was easy !!! my old mortgage account is showing £800 in credit , but i cant touch it as its been frozen :T

In some ways it's been great, others I've despaired, given it's only been about 3 weeks in total I've been surprised at the efficiency, then despite me asking teh legal firm to keep me updated by text etc. I heard nothing until they rang today saying I owed £5k redemption so I could complete Monday as long as they get the money by midday tomorrow. Thanks for the advance notice......much shuffling of accounts later I managed it, then they said actually it won't be till Wednesday...ah well. At least it's done and I get my £370 back (and the £200 for a+L accounts we opened....)