A&L interest rate confusion

randall73

Hi,

I'm a first time buyer who has just come off a 2 yr fixed rate A&L mortgage. I'm trying to remortgage, called them for a settlement figure and also asked them what rate of interest I'm now on (assuming it would be the SVR which according to their website is 7.14% at the mo..)
I was very surprised when they said it was 5.99% tracking 0.99% above the base rate for the life of the mortgage! Last night I looked through all my documentation and found no reference to switching to a tracker mortgage afer the fixed period ends so am thoroughly confused!
What am I missing?

beecher

I'd phone them up again to check. If you find your mortgage offer then quote them what it says in it - presumably it'll say a bit about going onto SVR? I would've thought they'd have written a letter telling you this a month or so before the fixed rate ended.