A Cwmbran-based law firm has hailed the move by certain lenders to scrap free legals on remortgages cases.
Some mortgage lenders have announced the scrapping of free legals on remortgage cases in a move to improve the quality of service in the conveyancing industry.
Samantha Strong, Partner at Rubin Lewis O’Brien, has applauded the move by lenders such as Nationwide and Halifax: “Giving more options to customers can only be a positive. Free legals are an attractive prospect to many customers, but having the choice of who to work with is also as important for some people.
Scrapping free legals whilst increasing cash-back on certain products allows customers to choose their own conveyancing support, whilst having a larger amount of cash gifted to them in order to make it a far less costly exercise during an already expensive process.”
The move made by certain lenders is a welcome development, Ms Strong said: “The pleasing aspect from this move is that customers don’t lose out and lenders are clearly listening to customers as well as those in the industry. We advise all those looking for conveyancing services to work with experienced legal professionals who have the quality standards of our industry; such as the Lexcel accreditation.”
The £500 cashback offered by lenders such as Halifax and Nationwide, with the latter doubling its previous cashback from £250. The amount is sent to the conveyancer on completion, giving the customer a bonus sum at the end of the transaction.
Lenders have communicated that this deal doesn’t affect current cases, free valuations or other cashback offers.
Rubin Lewis O’Brien provides legal advice to both individuals and businesses.