In addition to its existing services, walkermorris OnLine are now offering a package that allows savings on the legal costs of remortgaging. The service uses search insurance, rather than a full search, based on the principle that most properties have undergone extensive searches at the initial point of purchase. By using the search insurance, backed by Norwich Union, walkermorris OnLine are able to offer customers competitive prices with costs for a remortgage typically at £340 (1) as opposed to costs of up to £600 (2) in the conventional method.
(1) This cost is based on a £100,000 remortgage where the lender accepts search insurance and the loan to equity value is less than 95%.
(2) This cost is based on a £100,000 remortgage where the traditional searches such as Local, Environmental, Mining etc are carried out.
