A. Alliance & Leicester offer a range of mortgages, so you should be able to find one to suit your needs. If you need help choosing a mortgage read our guide to mortgages or we can help you choose. For advice and a recommendation based on your personal circumstances, make an appointment with a Mortgage Advisor at your nearest branch who will be happy to discuss your requirements.
Q. How much can I borrow?
A. For a quick estimate use our Borrowing Calculator.
Q. How much will my mortgage cost?
A. The cost of your mortgage depends on a number of things - how much you want to borrow, how long you need the mortgage for and the mortgage you choose. To find out more get a Quick Quote and produce your personal Key Facts Illustration which will show you all the costs of your mortgage.
Q How do I apply for a mortgage?
A. To apply for a new mortgage just call us on 0800 056 3254†, or book an appointment at your local branch.
Q. What is Mortgage Transfer Service?
A. Our Mortgage Transfer Service takes care of the legal administration work and costs when you transfer your mortgage to us from your current lender. This means there is no need to appoint a solicitor as the company we use, 'First Title', take care of this. This makes the process as hassle-free as possible.
First Title will get to work as soon as we receive your completed application. All you have to do is check, sign, and then return the documents they send to you.
Should any additional work be required such as registering a change of name, then a fee would be payable by you. Please ask for details.
Q. How much will my mortgage application cost?
You will need to pay a Valuation Fee at the time of application, if you have chosen a mortgage that offers a free valuation; the fee will be refunded to you on completion. The cost of your Valuation depends on the value of your property and the type of valuation you choose.
If you choose a mortgage with a Product Fee and you produce your Key Facts Illustration for your mortgage online this fee will be automatically added to your mortgage on completion. If you prefer, you will be able to pay the Product Fee when your mortgage completes.
Produce your Key Facts Illustration to highlight all costs associated with your mortgage.
Q. Free Valuation - what do I get?
A. On some of our mortgages we offer a free Basic Mortgage Valuation. This means that your house will be valued for mortgage purposes only - to check that the property is worth the amount of money we are lending you. You must pay for this valuation up front and it will then be refunded on completion of your mortgage with us. You are only entitled to one free valuation per application.
If you would prefer to have a more in-depth survey you can have a Homebuyer Survey & Valuation. There is an extra charge for this type of valuation. We will not refund the equivalent cost of the Basic Valuation.
If you are remortgaging then you will not receive a copy of the valuation report. Also in some circumstances Alliance & Leicester may use alternative valuation methods, which include the use of limited external appraisals or computer based data, to establish the value of the property.
Valuation costs are as follows and include an administration charge of £125
| As a Basic Mortgage Valuation Report (refunded on completion) | As part of a Homebuyer Survey & Valuation | |
| Purchase Price/Valuation | £ | £ |
| Not exceeding £25,000 | 220 | 425 |
| Not exceeding £50,000 | 220 | 425 |
| Not exceeding £75,000 | 250 | 425 |
| Not exceeding £100,000 | 250 | 425 |
| Not exceeding £125,000 | 280 | 460 |
| Not exceeding £150,000 | 280 | 460 |
| Not exceeding £175,000 | 320 | 510 |
| Not exceeding £200,000 | 320 | 510 |
| Not exceeding £250,000 | 340 | 575 |
| Not exceeding £300,000 | 370 | 625 |
| Not exceeding £400,000 | 430 | 725 |
| Not exceeding £500,000 | 530 | 825 |
| Not exceeding £750,000 | 670 | 950 |
| Not exceeding £1,000,000 | 820 | 1,100 |
| Exceeding £1,000,000 | 1,070 | 1,570 |
| Q. What will the 10% Overpayments facility allow me to do? A. Many of our mortgages let you pay off up to 10% of your mortgage balance each year without being charged the Early Repayment Charge that applies on the product. You can pay up to 10% as a lump sum in January of every year. This gives you the opportunity to reduce your outstanding mortgage balance and reduce your monthly payments. | Link to previous articles: Alliance Leicester Mortgage Jargon Buster Alliance Leicester Lifetime Base Rate Tracker Alliance Leicester 2 Year Base Rate Tracker Mortgage Plan Alliance Leicester 2 Year Base Rate Tracker Mortgage Plan Alliance Leicester 2 Year Fixed Mortgage Plan Alliance Leicester 2 Year Fixed Buy To Let Fixed mortgage |
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