Foundation Home Loans has launched a fee-assisted legal service for borrowers who remortgage to the lender across a range of standard residential products.
The firm says the new service is offered on two- and five-year fixed-rate remortgage-only limited edition products.
Borrowers who use the service will secure a new rate and assistance with legal fees for loans up to £1m. Also, the limited edition products come with a free valuation and no application fee.
The fee-assisted legal service is available in England and Wales only, with a cashback option available in Scotland, and for non-standard legal requirements.
The lender adds that its new products and legal service are suitable for employed and self-employed applicants as part of its F1 tier option — for those who just miss out on the mainstream — at rates starting from 5.94%.
Foundation Home Loans director of sales Grant Hendry says: “The remortgage market is expected to become more competitive over the next couple of years, especially if rate cuts materialise more frequently.
“We believe options beyond just price, such as criteria and add-ons like fee-assisted legals, will be crucial in making a significant difference to household finances.”
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