The Chelsea Building Society has announced that it is enhancing its mortgage range by introducing a range of products with a free valuation and a legal fee incentive.
This follows from a similar range introduced by the Yorkshire Building Society earlier this month. Chelsea Building Society merged with the Yorkshire Building Society in April 2010.
The Chelsea will now offer the range of products with free valuation and legal fee incentive to first-time buyers, those moving home, and remortgages. The Building Society says it hopes that this will help ease some of the financial concerns for borrowers whose wallets may be stretched by the costs associated with moving.
Chelsea Building Society Product Manager Jemma Smith said of the new purchase products: “We understand buying a new home can be extremely stressful — not to say expensive. We hope that by offering a free valuation and assistance with legal fees we can help to relieve some of this financial pressure.”
The legal services for this incentive will be provided by Optima Legal. This is the same provider as for Yorkshire Building Society’s products.
Customers who do not wish to choose this option can pick a conveyancer from more than 150 approved by the Chelsea Building Society, which can be accessed from their website.
This seems to be part of a process where the different trading names of Yorkshire Building Society introduce similar products. It is also an example of lenders trying to gain some control over the possible risks of mortgage fraud. The borrower still has the choice to use a different conveyancer, but the attractiveness of the new products with cheaper costs will tempt customers.
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