Foundation Updates
NEW Fee Assisted Legal Service across our range of remortgage products
We can today announce the launch of a new Fee Assisted Legal Service available to borrowers remortgaging across a range of eligible standard residential products.
The new service – offered on both two- and five-year fixed-rate remortgage-only Limited Edition products – offers clients the opportunity to secure the services of a solicitor without the burden of finding and employing one, plus a number of basic legal costs are covered.
The remortgage market is expected to become more competitive over the next couple of years, especially if rate cuts materialise more frequently. Options beyond just price, such as criteria and add-ons like fee-assisted legal services, will be crucial in making a significant difference to household finances.
Remortgaging borrowers who utilise the service secure both a new rate, assistance with legal fees for loans up to £1m, plus the Limited Edition products also 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.
Advisers should prepare for growth in existing borrower business, as more customers may be able to secure suitable deals through different lenders. Early 2025 has already seen lenders offering more attractive remortgage options, including fee-assisted legal services on special edition fixed-rate products.
The new products/legal service is suitable for both employed and self-employed applicants as part of our F1 tier – for those who just miss out on the mainstream – and is offered at rates starting from 5.94%.
Grant Hendry, Director of Sales at Foundation Home Loans:
“Our Fee Assisted Legal Service, available to borrowers remortgaging to Foundation across a number of standard remortgage only residential products is designed to save advisers’ clients valuable time by simplifying the process and covering basic costs. We believe the introduction of such a service will ensure a smoother legal experience for those who choose the service, while also reducing the upfront financial burden for these borrowers.”
For intermediaries only
