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Alliance and Leicester Flexible Mortgage

MLH24
Posts: 1 Newbie
Hi, it's my first time posting on here so thanks in advance for any advice and replies.
We have had an Alliance and Leicester Flexible mortgage since about 2008.It is a fantastic tracker rate..currently 1.09% We are moving house hopefully soon.
Our current mortgage was around £110000, but we have overpaid and currently have only about £4000 left to pay
I called A & L to check what our mortgage situation was before we put in our offer and was told that because it is a fully flexible mortgage, we could extend the loan and the term of the mortgage and keep our great rate. I thought we would have to borrow the additional amount on a different rate. Two separate advisors told us this.
Then when I went to arrange the mortgage on Friday, I was told this isn't the case. I argued that we had been told it was and they are currently checking it out for us, but I wondered if anyone out there knows anything about the terms of the A&L flexible mortgages.
Thanks
We have had an Alliance and Leicester Flexible mortgage since about 2008.It is a fantastic tracker rate..currently 1.09% We are moving house hopefully soon.
Our current mortgage was around £110000, but we have overpaid and currently have only about £4000 left to pay
I called A & L to check what our mortgage situation was before we put in our offer and was told that because it is a fully flexible mortgage, we could extend the loan and the term of the mortgage and keep our great rate. I thought we would have to borrow the additional amount on a different rate. Two separate advisors told us this.
Then when I went to arrange the mortgage on Friday, I was told this isn't the case. I argued that we had been told it was and they are currently checking it out for us, but I wondered if anyone out there knows anything about the terms of the A&L flexible mortgages.
Thanks
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Comments
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@mlh24 I can't speak for A&L specifically but generally speaking additional borrowing when porting is always on currently available terms and products.
The mortgage offer from 2008 should have the information you're looking for.I am a Mortgage Adviser - You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.
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