No word from Alliance & Leicester??

truedol

My current mortgage with A&L is coming to an end at the end of this month and they havent contacted me to discuss yet so I am shopping around!!! I am currently on a variable rate of 2.99% with a mortgage of approx £118K - any ideas on the best mortgages at the mo?? Often struggle to get mortgage with our combined salary of £30K despite never missing a payment in my life - over 18 years. Any help would be greatly appreciated.......stick with A&L with no questions asked, or is there anyone out there with a better deal?
Thanks

Dave_Ham

It certainly does not hurt to explore and then with full facts you can make a decision.

Without knowing your property valuation, it would be impossible to even talk about products although be mindful that whilst not guaranteed the A & L SVR is currently very competitive especially if you have a high loan to value.

A & L will not offer you another fixed deal under their brand, as they have stopped taking new business since becoming part of the Santander Group. I cannot imagine they will sustain their SVR as they will be keen to move on their back book of mortgages and this is a good way to motivate people to move.

Your income is borderline, although I think your credit score (from what you have said) will probably pull you over the line.

If you do not use a broker, ensure you verify with a lender pre credit score if you meet their income multiples..

Good luck

truedol

Thanks for the reply. My property is valued at £190K, and I have decided to ring A&L tomorrow to see what they can offer me before I shop around.........wish me luck!

Thrugelmir

Only your current product term ends not the actual mortgage. Take a look at your product paperwork as this will specify what interest rate terms your mortgage defaults onto.