Service is available on limited edition two- and five-year fixed rate remortgage-only products
Specialist lender Foundation Home Loans has introduced a new Fee Assisted Legal Service for borrowers remortgaging across a range of eligible standard residential products.
The service, available on limited edition two- and five-year fixed rate remortgage-only products, aims to simplify the remortgaging process by offering solicitor services and covering certain basic legal costs.
Borrowers using the service can benefit from assistance with legal fees for loans of up to £1 million. The limited edition products also include a free property valuation and no application fee.
The Fee Assisted Legal Service is available to borrowers in England and Wales. In Scotland, where the service does not apply, a cashback option is offered instead. This cashback option is also available for clients with non-standard legal requirements.
Foundation Home Loans said the offering aligns with its expectation of increased remortgage activity throughout 2025, with advisers likely to see more existing borrowers seeking new deals with different lenders.
“The remortgage market is expected to become more competitive over the next couple of years, especially if rate cuts materialise more frequently,” said Grant Hendry (pictured), director of sales at Foundation Home Loans. “We believe options beyond just price, such as criteria and add-ons like fee assisted legals, will be crucial in making a significant difference to household finances.
“We have therefore launched this Fee Assisted Legal Service, available to borrowers remortgaging to Foundation across a number of standard remortgage-only residential products and designed to save advisers’ clients valuable time by simplifying the process and covering basic costs.
“We believe the introduction of such a service will ensure a smoother legal experience for those who choose the service, while also reducing the upfront financial burden for these borrowers.”
The products are available to both employed and self-employed applicants through Foundation’s F1 tier, which is designed for borrowers who do not meet mainstream lending criteria. Rates for the new products start at 5.94%.
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