Any of your expert views on this mortgage offer A&L

bubblehead_2

Evening all

I am like many of you who are currently comming out of a fixed rate mortgage and considering what to do next.

Reading the email to from martin, it looks like there are a lot of us.

I am currently on a fixed rate of 3.99% (those where the days) with the staffordshire, and when this finishes shortly, their variable rate is currenlty at 6.74%, which is amazingly high compared to the offers available at the moment.

I have shopped around and it looks like I have been offered a good deal with the Alliance and Leics. (repayment) called "long term BRT freesaver (flexible)

They have offered me a base tracker at 0.24% above the base rate (total 4.99%). This is for 12 months and after this, there is no redemption fee.

All the fee's etc will be paid, I just have to pay the Staffordshire £175 for their admin charges. But, If I open an account with them (cant remember which one) they give me £250 which covers that.

So it doesnt cost me anything to change.

I am sitting here thinking, wheres the catch to this??

I cant see anything in the documents they have gave me, I know if I move after 12 months I will have to pay an admin fee, but cant find out what that is yet.

Anyway,

do any of you have any viewson this offer, or am I missing something glaringly obvious with this deal

Many thanks.

MAYFLOWERS

Hi

I am hoping to move in the next month or so and have just changed to an Alliance and Leicester Mortgage - came out best for me on all the comparison sites and beat anything my mortgage advisor could offer!!

I got free valuation, £250 cashback and as I opened a current account I also got a further £250 - there are also no arrangement fees! The only downside is I believe the fees are quite high if you want to move the Mortgage - think I have seen £315 quoted!!!!! :-(

I have gone for the Discounted fee saver mortgage!

Good Luck with whatever you go for!

bubblehead_2

Thanks Mayflower

Have now gone with the A&L

and also took the advantage of opening an account with the for the £250. This will pay for the admin charge with my current lendors, so, should break even on the change.

I did find out that after 12 months, it would cost me £300 admin charges to move.

bubblehead

Tom_Saunders

I have just got a 2 year fixed at 4,99% with the C&G. £499 application fee but free legals. Also no extended tie in fee.

cheers.