You are here: Home - News -

BM Solutions introduces free legals on remortgages

  • 20/09/2017
  • 0
BM Solutions introduces free legals on remortgages
BM Solutions has launched free standard conveyancing for remortgage customers.

The issue of free legals has attracted concern among brokers in recent months as a result of issues with service levels and delays. However, BM Solutions said that by utilising an extended solicitor panel it would be able to “seamlessly” handle the expected increased demand for conveyancing.

The free conveyancing offer sits alongside free standard valuation for remortgages and a £250 cashback offer.

Phil Rickards, head of BM Solutions, said that free conveyancing will help drive down up-front remortgage costs for customers.

He continued: “By using an experienced panel of solicitors brokers can be confident their customers will receive the same top notch service for their conveyancing as they do from BM Solutions. It is also important that we continue to offer choice through our popular cashback products.”

Earlier this year Nationwide announced it was pulling its free legals offer, while Mortgage Solutions exposed the poor service standards on offer from some free legals firms.

Paul Flavin, director of Zing Mortgages, said to offer free legals means, whatever the service quality, some sort of cost is built into the client offering.

He continued: “Conveyancing may be a relatively easy check-list process to a certain point, which may mean that less qualified individuals can cover much of the donkey work but, when you rely on volume to generate profit it’s very rare that a quality of service will go hand in hand with the ‘stack it high and sell it cheap’ approach needed.”

“The conveyancing factories that we as brokers know we’ll be battling with as soon as ‘free legals’ is ticked as an option are not going to massively change their service levels. Until there’s a minimum qualification requirement for anyone working in conveyancing, this high turnover of unskilled staff is something we will all pay the price for. To allow for this though, either free legals will disappear or lenders will need to absorb a higher cost.”

There are 0 Comment(s)

Comments are closed.

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.


Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.


Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.


Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
  • RT @robjupp: Great day yesterday for donations to @MortSleepOut. With Gift Aid, we are now close to £17,000. It would be great to get to £2…

Read previous post:
head shot of Charles Morley
Metro Bank reveals portfolio lending requirements

Metro Bank will continue to service the portfolio buy-to-let market by applying the Prudential Regulation Authority (PRA) underwriting changes at...