Which deal is better

fewcloudy

dprovan wrote: »

Santander phoned me back this morning. I was ready to go with the 1.99 fixed for 2 years (no fee) when the advisor said so you are happy to switch both parts of your mortgage to that!!!!


I said I thought both or none had to change and she says no you can put both parts on to the lifetime tracker part because its the larger amount!!!!


So i now have the full balance of 158,233 on lifetime tracker 0.99% above BOE base rate, no fees!!!


They have just moved £74,837.80 from alliance and leicesters 4.74 SVR to a 0.99% above BOE base rate..... Interest rates would need to move a lot before i broke even....


Thanks everyone for your help....

A great result!

Although the business model that allowed it seems a bit bonkers to me! So if it was the smaller amount then you couldn't have transferred it? Wait...what?

Why would that even matter?

getmore4less

NOw you mention that......

It came up before just a few weeks back that those old A&L deals can all go to the low cost tracker, I had not remembered but very surprised none of the brokers did as that is their business.

dprovan

thanks getmore4less,
I cant quite believe I nearly gave up the 0.99% above BOE base rate for a 2 year fixed at 1.99% with a 12.5 year term.

It is amazing, I remember phoning them maybe 5 years ago and asked about a new deal for the svr and not only where they unable to help. They made it pretty clear as an old alliance and Leicester customer they would rather see the back of me!

I cant quite believe it still, wither way I am delighted. Who knows what interest rates will do over the next 12.5 years but I suspect this will suit me for a large part of it....

cheers again!!