Mortgage Still Available?

typeractive

Hi all :beer:

I've currently been accepted for a mortgage with Alliance and Leicester. Having looked around, I spotted another 3year deal which would suit me (still with the A&L, as the property I am looking at has passed the valuation survey with them - so I prefer to stay with them).

I am after a 75% ltv deal, on a 3 year fix. On the tesco compare website I spotted this:

Until 31/10/12 4.58% fixed Arrangement fee 0.5% of loan, some early repayment costs

I have looked on the A&L site and I can not find this deal at 75% ltv, only 70% (and I can't afford that).

Is it likely that this deal has gone, and tesco website is not valid anymore?

I intend to speak to A&L or my mortgage advisor and ask if this product is available, and if it is - can I swap onto it having paid a valuation fee already.

Furthermore, the arrangement fees - once these are paid does that lower the amount of the loan you want to loan? The deals I have been looking at previously had no fee's, so I want to be sure that for example a loan of £100,000 with an arrangement fee of £995, would be a loan of £99,005. Am I correct in my thinking?

Cheers!

Cannon_Fodder

The 4.58% could be the result a slight error in the comparison website, that has kicked the 70% LTV up for consideration. For 75% LTV, there is;

4.49% purchase only 75% £995 fee
4.59% remortgage 75% £995 fee

So, only 0.01% out, and the loan amount will determine if the fee is a pain...

If you ask for a loan of £100,000 then you will get £100,000. Whether you pay the fee (usually in advance) or roll it up on top of the mortgage, is up to the lender's policy and your preference.