Conveyancing Alliance Ltd says advisers using its ‘Rapid Remo’ product will earn a £135 referral fee if they take the £300 cashback now offered by Woolwich rather than use the lender’s ‘free legal’ offering.
Woolwich announced yesterday that the £300 cashback option for those advisers and clients wishing to use their own solicitors rather than its ‘free legal’ offering.
Conveyancing Alliance claims it had already created a £300 cashback option in anticipation of such products. By abstaining from ‘free legals’ and choosing Conveyancing Alliance’s ‘Rapid Remo’ conveyancing product advisers not only earn an additional £135 but they also guarantee their client/broker fee. Many ‘free legal’ offers make no provision for the deduction and payment of the broker’s fee, the online conveyancing portal claims. Conveyancing Alliance also has a built-in ‘broker fee guarantee’ on its ‘Rapid Remo’.
Conveyancing Alliance has repeatedly urged advisers not to take up the ‘free legal’ offerings which it believes do not always treat customers fairly given the poor value and the lack of client representation.
Harpal Singh, managing director of Conveyancing Alliance Ltd, said: “We believe this is a significant moment in the world of remortgage conveyancing. We now have a lender in Woolwich which has recognised that ‘free legal’ arrangements are not for every client remortgage and not ideal for fee-charging advisers. Conveyancing Alliance has long campaigned on this very issue and urged advisers to consider the cashback where offered
