Building Society Scraps Free Legal Services On Mortgages
Welcome news for clients!
The UK’s largest Building Society, Nationwide, one of the biggest companies offering mortgages for 2016 and 2017 announced in mid-July that they are abandoning the provision of free legal services with their mortgage products.
We have many times been told by our clients that they want to instruct us in a re-mortgage of their property but they are obliged to go to a company that they have never heard of because of the ‘’free legals’’ supplied by the Lender and then, after the event, that they wished they had not done so.
There has been a lack of service and too much work put on free legal conveyancers who are out of area, unknown and impersonal and very often clients do have a little additional work that the appointed company will not or cannot handle or will charge a lot more for.
When choosing Simmonds Grant part of Tollers Solicitors to act on your re-mortgage, we act in a dual role; for the lender but also on behalf of our clients – you. We are dedicated to provide a client focused service.
Local knowledge and the personal attention a local solicitor can provide can save you time and ease the stresses a re-mortgage can sometimes bring.
It is likely lenders will now offer bigger cashbacks to clients to cover some of the costs of their legal fees so clients will not be hindered by the changes.
Hopefully more lenders will follow suit shortly. Freedom to choose is good news for those looking to re-mortgage as the work will return to the client’s preferred solicitors where it belongs and allows us to keep continuity with our clients and their affairs.
Talk to Simmonds Grant part of Tollers for all your local re-mortgage needs.