The offer is available to customers who use Afin Bank’s Express remortgage service through its partner Movin Legal, which provides a specially selected panel of law firms.
The incentive will allow borrowers to save at least £900 on standard legal fees for mortgages under £1m, with the potential to save up to £1,800 on larger loans.
The bank said the initiative had been introduced to help brokers and their clients during the current period of uncertainty as interest rates rise across the marketplace and lenders are withdrawing products.
Afin Bank said its remortgage proposition could suit borrowers whose circumstances have changed, such as people who have become self-employed, turned to contracting or who have a non-standard income, such as multiple income streams, for example.
It could also be suitable for borrowers who struggle to get a mortgage from mainstream lenders because of their circumstances, such as high-net-worth (HNW) clients, qualified professionals and foreign nationals working in the UK on a work visa.
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The lender will also consider capital raising as part of a remortgage, so borrowers could look to release additional funds to pay for work to their home, such as renovations or an extension, or to pay off debts and other lending.
Rob Lankey, national sales director for Afin Bank, said: “Many borrowers are looking to remortgage because their fixed deals are coming to end, but they are having to do so in a turbulent marketplace where interest rates are increasing and products are disappearing on a daily basis.
“By offering free legal fees on our remortgage deals, we want to support customers and their brokers during this difficult period by providing them with common-sense lending solutions, whatever their circumstances, and helping them to save money.”
