Residential policy
We offer a range of products with a remortgage package of one free valuation and free basic legal work. The free valuation is available for properties valued up to £3m. If the property is valued over £3m we'll cover the first £1,640 of the valuation fee. The maximum property value for free basic legal work is £2m, and there is no maximum loan size. The package also applies to capital raising on an unencumbered property.
We’ll choose a firm to complete the free basic legal work under the package. Additional costs specific to the customer’s circumstances may apply and the customer will be provided a tariff of charges by the firm acting when they’re appointed. There will always be a funds transfer fee of up to £35 to send remortgage funds to the existing mortgage provider or the customer’s bank account.
Free basic legal work eligibility
Most transactions are eligible for the free basic legal work but it’s not available where any documents require execution under a Power of Attorney or for property held in trust.
In the following circumstances (not exhaustive) the standard legal fees incentive is available but additional fees usually apply: Transfer of equity, stair-casing to 100% ownership, Joint Borrower Sole Owner, charges on the title, solar panel leases, 3rd party solicitor involvement, restrictions on title.
Customers who want to appoint their own legal rep can do so at their own cost. Their chosen legal rep will act for the customer and Clydesdale and must be on our legal panel