Afin Bank is offering free legal fees on remortgage applications submitted before the end of May in a move aimed at supporting brokers and clients navigating a volatile rate environment.

The incentive, available via its Express remortgage service with partner Movin’ Legal, could deliver savings of at least £900 on loans under £1m, rising to around £1,800 for cases between £1m and £2m.

The lender said the offer is designed to ease the cost burden for borrowers coming off fixed rates, as product withdrawals and pricing volatility continue to shape the remortgage market.

COMPLEX CASES

The proposition is likely to appeal to brokers placing more complex cases, particularly where clients fall outside mainstream criteria or require a more flexible underwriting approach.

Afin’s criteria targets borrowers with non-standard income profiles, including the self-employed, contractors and those with multiple income streams, as well as high-net-worth individuals and foreign nationals working in the UK.

The lender will also consider capital raising as part of the remortgage, allowing borrowers to fund home improvements, consolidate debt or release equity for other purposes.

COMMONSENSE LENDING

Rob Lankey, national sales director at Afin, 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 commonsense lending solutions, whatever their circumstances, and helping them to save money. For borrowers wanting to remortgage a larger loan amount this could be a significant saving.”

Afin positions itself as a specialist lender focused on individually underwritten cases, offering residential and buy-to-let products across England and Wales for remortgages, home movers and first-time buyers.