RG Law launches new Rapid Remortgage Pack for brokers
RG Law are pleased to announce the launch of their new Rapid Remortgage Pack designed for mortgage brokers.
Recent research from UK Finance (sourced from December 2023) reveals that internal product transfers reached £219 billion in 2023, an increase of 11% year on year, while external remortgaging dropped 21% year in year to £65 billion.
In 2023, higher interest rates and household costs limited consumer access to mortgage credit. Affordability constraints also dampened external remortgaging activity, although there was growth in the internal product transfer market, where affordability tests are not required.
To help reduce the cost of remortgaging for homeowners in 2024, RG Law has just launched a new ‘All-Inclusive’ Rapid Pack for freehold and leasehold properties. Both the freehold and leasehold remortgage packs include the necessary legal documentation including the title deed; bankruptcy search fees; land registry fee; ID checks; bank transfer fees; search indemnity fee and an AP1 fee. The leasehold pack only includes an additional fee to obtain the relevant management pack(s).
Speed is of the essences for some which is why RG Law’s dedicated remortgage team aims to turnaround a freehold remortgage within seven to fourteen days. A leasehold transaction within three to four weeks because timeframes are very much dependent on the turnaround times of the management company. This being said, the management pack will be ordered as early as possible and chased to try and get a prompt response.
Tina Khanna, Conveyancing Director of RG Law, commented:
“Last year was challenging for both prospective and existing mortgage borrowers, facing affordability issues resulting from rising interest rates and inflation.
“Unrelenting house price rises have compounded borrowing issues, resulting in a squeeze on house purchases.
“We have developed the new Rapid Remortgage Package to make the legal process for remortgaging freehold and leasehold properties more affordable.
“The new packages are priced at £500 all-inclusive of VAT for a freehold remortgage and £685 all-inclusive of VAT for a leasehold remortgage.
“Our aim is to make the remortgage process as simple as possible and offering our services for a competitive ‘all-inclusive’ rate will help reassure our customers that this package covers all the legal work involved.
“Simplicity is at the heart of this concept, and we hope this speaks to the majority of our customers.”
RG Law is a trusted partner to over 120 estate agents nationwide, providing residential conveyancing services to more than 2,340 clients annually. Operating out of Sidcup and York, RG Law has a team of expert solicitors and licensed conveyancers committed to delivering high-quality, personalised services that prioritise client needs above all else.
RG Law has a My Experience team that monitors the experience clients are receiving, as well as proactively asking customers to share their experiences online. This enables RG Law to remain ‘real’ and ‘relevant’. Referrals play a pivotal part in sustaining RG Law’s business. Estate agents who refer RG Law’s services to their clients put their reputation on the line each time they ask their client to use RG Law. This is why customer focus is at the core of RG Law’s business and engrained in its approach.
Kindly shared by RG Law