Alliance & Leicester Remortgage - Any recent experience?

Tammer

Hi,

I have 2 A&L mortgages and one of them has the current deal expiring at the end of this month. It's currently a BOE + 0.89% tracker.

When I last remortgaged, 2 years ago, I was able to see all their deals on their website and chose the above deal. Now that they've been taken over by Santander, the website just gives a number to call to discuss remortgage terms, although it is possible to see rates elsewhere on their site.

Has anyone remortgaged with them recently? Did they offer a competitive rate? Were you compelled to take out a Santander Current Account?

Any feedback appreciated.

morrow56

I would be interested in any news on this as well

I have a £12,000 shortfall with my endowment and am just coming to the end of my 5 year fix

What kind of deal might I be offered - current rate is 4.54%

Thanks for any help

andy208833

I changed my mortgage from Woolwich to A&L only 9 months ago, no problems at all and the 5 year fixed rate deal they offered was the best price i could find.

Am very happy so far....

kmmr

Do you know what the rate reverts to at the end of the tracker? Some of the old tracker mortgages just revert to the new tracker rate, which is Base +0.99. That's a deal that's hard to beat. (Although I think HSBC is offering Base +.69 if you have 60% LTV)

Melody2010

I've just phoned them about ours (5 year fix at 4.54% ending next month) and they've offered a tracker at 0.75 above BofE rate. Sound good?

Tammer

kmmr wrote: »

Do you know what the rate reverts to at the end of the tracker? Some of the old tracker mortgages just revert to the new tracker rate, which is Base +0.99. That's a deal that's hard to beat. (Although I think HSBC is offering Base +.69 if you have 60% LTV)

Hi, the rate 2 years ago when I started the deal was 5.89% and it was set to revert to 6.99% when the deal expired. I think that 6.99 was their standard variable rate at the time.

I'll phone them to see what they offer.

Tammer

Hi,

If I do nothing, the mortgage switches to BOE + 1.99% when the deal expires.

Alternatively I could fix at 3.99 for 2 years with no fee or 3.49 with a £500 fee.

I think I'll take the do nothing approach for the next few months.

Tammer

Melody2010 wrote: »

I've just phoned them about ours (5 year fix at 4.54% ending next month) and they've offered a tracker at 0.75 above BofE rate. Sound good?

Hi,

This sounds rather unlikely. Was there a fee or any other conditions?

flyingcod14

I've been with A&L for 5 years was FTB, interest only for 2 years then remortaged to repayment for two year fixed rate. When that ended I was "between jobs" and have been on SVR of 4.99% ever since. Currently have 99K mortage + mortgage loan of 7.5k - I have been looking to remortgage but they told me "best we can offer you is SVR which is what you are on". 5 years of no arrears, and that is the best they could offer? :mad:

Sooner I move the better!

fc14

Melody2010

Tammer wrote: »

This sounds rather unlikely. Was there a fee or any other conditions?

It's definitely what she said. We only have about £20k left to pay on the mortgage - would that make a difference? I asked about fees and she said there would just be a £395 fee if we paid off in full early. I know what you mean though, it seemed a v low rate to me.