Building Society reintroduces free legals for remortgagors

A building society has recently confirmed that it will be bringing back free legal services for remortgaging customers.

Nationwide withdrew the option for remortgagors to be provided with free legals last year, as well as doubling the cashback alternative to £500.

However, the company announced yesterday that as well as maintaining the higher cashback option, it would reintroduce free legal services.

Nationwide are also aiming to provide greater support to first-time buyers in more expensive areas, increasing the maximum loan size for mortgage member to £350,000. This applies to those borrowing up to 95% loan to value.

Commenting on the changes was Henry Jordan. The Director of Mortgages at Nationwide stated: “These changes offer improved choice and flexibility across our remortgage range. Also, by increasing the maximum loan size available to those with small deposits, it will enable more buyers to take their first step onto the housing ladder.”

Today's Conveyancer