A&L SLV customer new deal with Santander or approach broker for new deal?

wilhelmina1010

Hi, thanks for reading my post and thank you for any advice offered. My partner and myself are ready to move up the ladder as we've lived in our present home for over ten years. We have 90k (half equity, half savings) to invest in a new place and would require to borrow 70k to purchase a property we fancy.

We both earn 19k pa each and both have excellent credit histories. We have no debts, other than my partners student loan. The property we live in is in my name as is the mortgage with Alliance and leicester which has 25k outstanding.

Should we go direct to Santander for their best deal as I have a history with A&L and could port the remaining 25k on slv or find a new deal through a broker?

wilhelmina1010

Any advice much appreciated?

dimbo61

Well you have lots of equity and only borrowing £70K with joint income of £38K so should get the mortgage you want if credit history as good as you say.
what is the SVR you are paying now 2.5% or 4.24%?
Have a look at whats available on the market first for the whole amount as you wont have any ERC,s as you are on the SVR and then approach A&L to see what they can offer ( dont let them do a credit check until you are happy with the deal offered)
Maybe time to see a "whole of market mortgage broker" as he/she can point you in the right direction

wilhelmina1010

I'm paying 2.5 won't get that rate anywhere else although I can only get it on the 25k not the further 45k I wish to borrow.