Free legals may cause problems
This is according to OpenConvey’s Jonathan Hall, who said: “While a free legals package is an option which seems like a no brainer for a lot of brokers and their clients, they would be better taking the option of a contribution, usually up to £250, to the costs of their conveyancing.
“Free legals offers mean that the lender’s interests are paramount but the client’s interests are not a priority during the transaction. This could have severe implications for the introducing broker if there are problems at a later date.
“We know from client feedback that lenders’ conveyancing whether inhouse or outsourced can be of variable quality with little information available and a service that can be variable at best.”
He added “ Brokers would be better to get their clients to take the cash contribution to their legal fees and appointing one of the selected members of our conveyancing panel to ensure that their client has the most appropriate representation.”