SPML’s title insurance product literature and claims guidelines have been simplified so that they are more user friendly, and the lender has pegged the cost of title insurance to the end customer at its current level for the next eighteen months.
Gemma Reece, SPML’s head of legal and compliance, said: “SPML has had a long standing business relationship with L&E and we are very pleased to renew the title insurance contract with them, having conducted a thorough review of our title insurance needs. Title insurance covers the risk of any defective title to the properties that we lend against, and it can often help to speed up property transactions by eliminating the need for local authority searches. It is also beneficial in remortgage cases where the speed of the transaction is important to the borrower.”
Alan Smith, Managing Director at London & European, comments: “We have enjoyed an excellent relationship with SPML since 1999, and are delighted that we will be continuing to work together. SPML has an outstanding record of business growth and has ambitious growth plans for the future, which L&E’s title insurance will continue to support.”
