Have Alliance & Leicester dropped SVR?

agile83

Hi guys,

I have a link in my favorites to the Alliance and Leicester's website which although is mentioning the rates are for new users it clearly states "the current SVR which is currently" and it now states 4.24% which if correct is brilliant news.

However i phoned A and L today and the adviser stated that the current SVR was definately still 4.99% - I mentioned the change has been on the website since at least yesterday but he wasnt having it at all, and was so adamant that i felt compelled to triple check the website which still states 4.24%.

Am i wide of the mark here? Is there another way or another website which tells me their SVR?? Thanks

toughtobeabug

I hope the website is correct, I move on to their SVR end November, and cant get a much better deal at the moment so was going to stay on the SVR and review on a monthly basis, I was told 4.99 on wednesday but the website clearly says 4.24 % fingers crossed

toughtobeabug

They may have just dropped it so they are in line with abbey which was already 4.24% as they are both part of santander?

agile83

I would normally be certain by going on what the website says and a nice drop to 4.24% will really help me out - I cant believe something so important as the SVR would be incorrectly placed all the way down the mortgage rate page so would guess it is right - However as I say the guy i spoke to was annoyed that I was questioning him so I didnt keep pushing him on it.

Im going to call them on monday when the relevent email or communication goes round to the department - Im supposed to be on the SVR as of the 28th of this month which is why i want some closure on this!!! Fingers crossed, and I will report back my findings. cheers

upset123

I thought i was the only sad person out their that had the A&L webpage as one of my favs!

I rang in the hope that the ate was 4.29 not 4.99 But was told the 4.24 is only applicable to abbey members and new members. If you had an existing A&L mortgage it stays at 4,99

I hope this is wrong as it seems wrong. but I think it is time to start annoying A&L until they only have one SVR and not two!

agile83

Im hoping the helpdesk guys at A and L get asked this question a hundred times over then perhaps one of them will mention it and the website will change accordingly!!

ultramagnetic_commuter

The tables you are looking at with the lower rate are for new borrowers. If you click the link to rates for existing customers who want to borrow more it quotes the higher rate.

Sneaky that they have 2 SVRs but it's sort of clear that the lower rate is "brand new customers only".

lee_d_m

Hi,

I'm also on the SVR of 4.99% at the moment. I phoned A&L this morning and was told the same thing, 4.99% for existing customers, 4.24% for new customers.

This seems very fishy to me, can a bank have 2 SVR's ? Is that legal ?

Also, the website is very ambiguous, whilst the initial Interest Rates page does state they are for new customers, if you change the drop-down to look at only Fixed-Rate mortgages for example, there is no mention of new customers on that page, and yet the rate is still 4.24%

Any experts on here with an opinion on this ?

Sherbet66

Its shocking the way A&L treat their existing customers, really shocking. :mad:

jrs101

If this is the case then yes its an outrage right? How can a lender have 2 SVR's?

Can Martin look into this?

agile83

Its not crystal clear enough in my opinion and it doesnt help that the A and L logo is shining brightly like a beacon at the top of the page. Also as i mentioned i have had that page bookmarked as sad as that is, so when the rate changed I assumed it was applying to me, not that they are talking about abbey but can't be bothered to change the logo or create another webpage.

Surely they should create another page for alliance and leicester or rename it to Santander and have both rates. They have kept the page exactly the same and just put abbey's rate there. Shocking.