As part of the Mortgage Club Legal and General has added a conveyancing service for customers, something they feel is an essential part of the whole mortgage process.
The view of the Legal and General mortgage spokesman is that effective and efficient conveyancing can make or break the house moving process. If the conveyancing is not done at a good pace then there is a greater likelihood that the deal can fall through, meaning the whole process of finding a property has to begin again.
Legal and General are using the skills and knowledge of intermediaries to manage the conveyancing process, since these financial advisors and legal experts have the experience and knowledge to get all the work done to customers satisfaction.
For the third month in a row the Abbey National Mortgage Index has shown a rise in the appeal of five year fixed rate mortgages to consumers.
From the survey carried out by the Abbey National there has been a 6 percent increase in those ready to go for a five year fixed rate mortgage if they were remortgaging tomorrow. The figure stands at 30 percent this month, compared with 24 percent and 12 percent in the two months previously.
A lot of the interest in these mortgages will be coming from those with existing fixed rate deals that are set to expire say the Abbey National. Having already enjoyed the security of a fixed rate mortgage these customers will take another one given the opportunity.
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The Nationwide Building Society house price survey recorded the biggest year on year fall since they began collating data in 1991.
June saw house prices drop by over 8 percent compared with the same time last year, also down 1.7 percent compared with the previous month. In monetary terms the average property now costs GBP15,000 less than it did a year ago according to the Nationwide Building Society, something that can be seen as both good and bad. For first time buyers there is the chance to afford a house that was previously out of reach, but existing homeowners may not want to sell if they bought recently since they would lose money.
This latest drop makes nine consecutive months of price drops in the housing market, putting them at their lowest since the summer of 2006. The Nationwide Building Society are one of the key players in the mortgage market and are hopeful that things will turn around.