The Society has reviewed the typical legal costs incurred by the borrower and has designed a product which covers all of these costs as an extension to its current remortgage product range.
As part of the ‘All In One’ product, Newcastle will also instruct one of its approved solicitors on the borrowers’ behalf to arrange completion of the purchase or remortgage.
The product offers a 2.59% two year fixed rate which is available up to a maximum of 80% LTV.
Product Development Manager, Ben Smith, Newcastle Building Society, said:
“Buying a home is probably the biggest purchase anyone will ever make so as a lender it’s important we help to make this as easy as possible for borrowers.
“We understand what borrowers want from their mortgage; a competitive rate is important but also they want to understand at a glance what the costs will be to them so there are no surprises.
“That’s why we’ve called our new addition to the range the ‘All In One’ because it covers all the customers legal, valuation and products fees whilst also taking care of the hassle of instructing a solicitors to carry out the conveyancing. All they have to think about is the monthly payments which in themselves can have quite an impact on finances.”
