Leading title insurance firm, London & European is joining forces with many UK lenders to bring the product to the British house buying and re-mortgaging market.
Hinckley & Rugby Building Society is the latest to announce the launch of its service to their borrowers, dramatically reducing the average time it takes to complete a mortgage.
London & European Title Insurance is an insurance policy which provides protection against the deeds of a property containing a fault. Anybody buying property, land or even re-mortgaging can take out a policy and accelerate the buying process as it eliminates the need for local authority and legal searches. Almost everybody buying property in the US takes out Title Insurance as a matter of course.
London & European is now the largest provider of residential title insurance in Europe. Paul Beresford, Managing Director, said: “We are very pleased that Hinckley & Rugby have joined the ever increasing number of lenders who are enjoying the service and cost benefits which title insurance can bring. I am sure the product will be very popular with its new customers.”
Julia Howard, Director and Secretary of Hinkley & Rugby Building Society, said “We wanted to bring the best possible service to our potential borrowers and the title insured process gave us the attractive mixture of protection, speed and value for money.”
Borrowers can currently enjoy the benefits of the title insurance package with any of the Society’s re-mortgage products.
The legal work will be handled by the in-house team at Hinckley & Rugby so there will be no need for involving external solicitors in the standard process. Within the re-mortgage offer all the basic legal fees are free to the borrower.
