Hi

I am in the process of moving house and have sold my own property and will be moving the beginning of August. How soon can i apply for a new mortgage? Is it true that they can only quote up to 28 days before the move in date?

Also my current mortgage is with Alliance and Leicester and they have all these fees to pay for early repayment etc as it will need to be a new account which i grudge because technically i am asking to borrow more.

Does anyone have any advice? I've done the mortgage search on here and know i might be able to get a better rate but if i can get out of paying any charges then i would appreciate some tips.

Thanks very much

Hi..your existing mortgage should be portable with A&L and the extra money would be on a different rate to save on any redemption penalties. Have the A&L said that this is not possible and given any reasons??

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Regards

Ian

Hi

Yes they have offered us that but it would mean that i would have 2 mortgages running simultaneously (or however you spell it) and when each came up to be renewed in the same year i'd get stung with product fees twice (last time it was £599) just to go on another fixed rate.

Its not ideal this - they seem to get you at all angles :-)

Still all is not lost cause i have found a good rate with the Halifax so that might be a goer....

Thanks for your help though

If you have a shortish period of time left on the fixed rate you could take the extra on the SVR with no fees and then consolidate onto one loan at the appropriate time. Work out whether the Halifax deal saves you at least the amount that you will pay on redemption, it would be a shame to chuck money away???

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Regards

Ian

Thats true Ian - i'll need to check that - thanks for the advice :-)

Do you think i'll be able to sweet talk the Halifax into paying any costs? Or is that really, really unlikely???

Michelle

Hi Michelle...there is no way on this earth that any lender will pay a redemption penalty, nice thought though :)

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Regards

Ian