A + L no offer of new mortgage product

Downbeat

Hi,

I have recently finished my 2 year tracker product with Alliance and Leicester and have been trying to get a new product with them but they keep coming back with the same answer "there are no products available at this time" when i ask as to why they do not seem to have an answer basically they say "computer says no"...

What i was wanting to know is anyone else having this problem or is it just me?? Is it common place for Building Societies to wait a few months before offering a new product to existing customers as this is what happened the last time, it was 6 months before they offered a new product....

I have a LTV of 75% so in my eyes i shouldnt have a problem but. A + L are now part of Santander but seem to be run as a seperate entity, i just get the feeling that they are clawing back some of the tracker money i saved while on my tracker rate before offering a new product which doesnt seem fair [well to my anyways]

I dont feel like a "valued customer" so will most probably be switching soon, but just wondered if there where many people out there with the same problem and just how common it is??

Regards
Downbeat

Gary123456790

Hi,

I moved from A&L to Santander around november last year when our 2-year fix came to an end.

They offered various deals which were with Santander and we remortgaged with them.

Is it because your LTV could be just over 75%?

Try and get some more information as to why there are no deals available to you. Ask them what they think your ltv is maybe?

Gary.

Downbeat

Thanks Gary, yes you could be right on the LTV, i will ask a few that question the next time i call them...and also whether i can move to a Santander Mortgage also.... Cheers

kingstreet

You'll probably find you can get a better deal by remortgaging to a new lender. Many offer free valuations and free legal work to get the transfer done.

Downbeat

Thanks Kingstreet, looks like i will be heading that way as they dont seem to bothered about keeping me as a customer.....

kingstreet

Downbeat wrote: »

Thanks Kingstreet, looks like i will be heading that way as they dont seem to bothered about keeping me as a customer.....

When a lender is taken over, some of the things which go on do seem to appear completely mental. Still, Santander's loss will be another lender's gain...