Changing mortgage deal without re-mortgage/credit check

ok_c

Hi all,

My existing tracker has expired a few months back and I'm now on the SVR. Myself and my partner are just about to take a loan out to pay for our wedding.

My existing lender (A&L) will let me view deals online I can switch to now I'm out of my deal, they're a little higher then elsewhere but perfectly reasonable.

Question is, will changing the deal on my mortgage (i.e. going into a new tracker for instance) be seen similar to a new mortgage deal and involves credit searches etc - or is it simply seen as a tariff change? I don't want to change the deal and it impact our loan/wedding plans - but I'd like to change deal and be able to save a little money.


Cheers

Leon_W

It should be a straightforward swap as long as you are not changing the term or loan amount or repayment method. Keep it the same and you should be fine.

Thrugelmir

ok_c wrote: »

My existing lender (A&L) will let me view deals online I can switch to now I'm out of my deal, they're a little higher then elsewhere but perfectly reasonable.

Are the deals with A&L or Santander? A&L closed for business some years ago. Santander are using this an opportunity to reprice the old mortgage book.

ok_c

Its currently A&L but the wording seems to indicate they'll switch it over to Santander as part of the process. I'll give them a call tomorrow to quiz them.