The rapid remortgage service has been designed for fully packaged applications and is intended to allow cases to be completed in five days from issue of offer. The service is faster because it uses a dedicated in house legal team is provided by Mortgages plc, and consequently the cost to the customer is £275 which the lender claims is almost half the amount usually charged by solicitors.
Paul Howard, sales and marketing director of Mortgages plc, said: "While it is important to offer competitive and market leading rates we also believe at Mortgages plc that we need to provide a service that matches the needs of the marketplace at any time. Given the recent and sustained growth in remortgaging the rapid remortgage service means brokers using Mortgages plc can offer a cost effective and speedy service to their clients. Any initiative that speeds up the completion process must be good news for everyone involved."
