The campaign has seen an increase in the number of intermediaries using Pink for the first time, with approximately 30 per cent of packaged cases coming from new intermediary customers.
The success of the campaign has led to Advantage recently being added to the selection of lenders included and means that Pink Home Loans now offers free legals for 5 of the most popular lenders on its packaged submission panel. The offer is also included on buy-to-let non-conforming remortgage deals.
The lenders in Pink’s Free Legals Campaign include: Advantage, First National (excluding first-time buyer range of products), GMAC, The Mortgage Works and Victoria.
The campaign is initially available until 31 August 2007 for all properties in England and Wales only, with the legal work being carried out by Conveyancing and Remortgaging Solicitors (CARS). To make sure those North of the border do not miss out, a £250 cashback option is available for properties in Scotland and Northern Ireland.
Kay Leslie, network services diirector for Pink, commented: “Pink is delighted with the success of the campaign and to be welcoming on board intermediaries who are using Pink for the first time.
“With the Council of Mortgage lenders quoting that a likely two million fixed rates will be coming to an end over the next 18 months, this campaign should provide intermediaries with a range of competitive deals to capitalise on this opportunity, whilst reducing the costs of remortgaging for their clients.”
Simon McCabe, from Mortgage Genie, commented: “Recent Bank Base Rate rises are having a huge impact on my client base and having access to a range of competitive fees assisted products was one of the reasons that I have started to use Pink, enabling me to reduce the costs of remortgaging for my non-conforming and buy-to-let non-conforming customers.”
