From Monday all online quotes will reflect the 2.5% saving with conveyancing fees on all pipeline cases that complete from the same day also being charged at the new 15% VAT rate. On a typical remortgage with CAL the client will be making a saving of around £10.
CAL has also recently revamped its pricing structure ensuring it is simple to understand and completely transparent. The changes have been designed to make it clearer for the client and easier for the adviser to sell.
The new pricing structure offers a first in the marketplace in that it delivers uniformity for all advisers across the board regardless of which distribution group they register through. At the same time CAL has also reduced many of its fees. Changes to CAL’s conveyancing pricing menu include:
· Remortgage conveyancing (up to £500k). This is now priced at £250 plus VAT including all standard disbursements. Many advisers using CAL will now find the price is between £25 and £50 less than previously. The new price now offers a viable alternative to free legals for products that come with a cashback alternative, particularly for clients who value service.
· Purchase conveyancing. This now starts at £310 plus VAT with all solicitors on the CAL panel fixing their disbursements for complete transparency. The new price represents a typical saving of £100 for the client.
· Sale conveyancing. Prices start from £325 plus VAT and include all standard disbursements offering typical client savings of £125.
Harpal Singh, Managing Director of CAL, commented: “With the 2.5% cut in VAT coming into effect from Monday CAL is able to pass on the full benefits of the reduction immediately to advisers and their clients. We believe this is vitally important move for conveyancers and distributors, and hope others resist the temptation to hold on to the 2.5% and profit at the customer’s expense.
“We are also delighted to announce our new pricing structure which we believe makes the CAL proposition even more appealing to advisers. It was clear to us that advisers wanted a simple, transparent structure which was the same for all. By delivering this to market, CAL is offering a unique proposition that marks us out from our competitors. This new pricing structure represents a huge change given that we are now able to provide all brokers with the same deal so no-one is disadvantaged.
“At the heart of this move is our push for simple and transparent solutions for advisers who are looking for a quality conveyancing distributor offering clear and robust solutions. We want to move away from ‘headline grabbing’ pricing which end up coming with a sting in the tail when all the disbursements are added in. Now, with CAL’s pricing advisers have the total certainty that what they see is what they get. This is just the first in a phased roll-out of enhancements that will benefit our users and CAL will continue to focus on maintaining the high service levels that advisers have come to expect and rely upon.”
For more information on CAL, visit: www.movewithcal.co.uk
