Let’s be honest, lenders are in the mortgage business to make money, so the idea of free legals is not strictly true. Sometimes these ‘free’ services are paid for through extra costs hidden in other charges.
In fact, when a lender offers a free legal service, the solicitor it appoints is looking after its interests and not the customer’s. As a consequence, the client has no legal representation and if anything goes wrong they have no one they can turn to and no avenue for redress. And, because the solicitor is acting for the lender, the client has no control over the time it takes to complete the process.
It is also important to remember that free legals only apply to straightforward cases. Any additional work, such as transfers or leasehold contracts that cannot be processed simply is likely to cost significantly more. Not only this, but as the legal bill is being paid for by the lender, the solicitor will often refuse an intermediary’s help with their client’s transaction, leaving the client on their own to deal with any documentation and communication.
At Goldsmith Williams we don’t offer free legal services because we believe that when it comes to purchasing property, you get what you pay for. Instead, we prefer to offer good, solid legal advice to ensure our clients’ interests are protected. There are no hidden charges, we work to strict completion deadlines and our GWLive management system allows intermediaries to monitor the progress of cases 24/7. Just as it should be.
