We’re open for business as remortgage instructions grow
It feels like only yesterday that we were navigating our way through the Brexit uncertainty, to then come out on the other side in January 2020 with unprecedented levels of new instructions from people looking to either buy, sell or remortgage.
No sooner were we all celebrating that the market had returned to pre-Brexit levels, and then Covid-19 arrived onto the UK shores. There can be no doubt that Covid-19 has brought significant disruption to the UK property market, whilst also generating many discussions on what the future will look like for the property industry.
The demand is still there…
We carried out a recent survey across 1700 existing clients of the firm and 82% of those clients who responded confirmed that they still wanted to proceed with their sale or purchase. There is therefore still the demand amongst existing clients who had instructed us pre Covid-19 and it is also encouraging to hear from estate agents and housebuilders who are reporting that there are extremely high levels of pent up demand from purchasers. This should hopefully support the recovery.
The remortgage market is looking particularly buoyant and our experience over the past two months confirms that there is still a decent amount of activity in the remortgage market, where appetite seems to be less affected.
This consistency in remortgage applications comes as no surprise as borrowers look to protect themselves by trying to secure a longer deal on a good rate for their largest outgoing, or some may be seeking to withdraw equity from their property to help them through the months of uncertainty which could lie ahead.
A bit about PLS and our remortgage team
We are a technology based conveyancing specialist, acting nationally for clients and lenders (we are on all mainstream lender panels) across the whole of England and Wales, with offices in Manchester and central London. We utilise a state-of-the-art CRM platform to ensure a slick process from initial instruction to the drawdown of funds.
We have invested heavily in technology and our customers are able to use our PLS Portal 24/7 on desktop and via an IOS/Apple/Android App to track their case and sign their documents at the press of a button on their screen.
Our App has been particularly invaluable for those customers who have been unable to leave their homes due to Covid-19 and who have therefore been able to sign, upload and return all documents without leaving the safety of their own home.
In the past year, we have also incorporated Artificial Intelligence (AI) and Robotic Process Automation (RPA) into our processes with large parts of the process automated without the need for human interaction. This then frees up our fee earners to spend less time on the “admin” and more time guiding our customers who may need any further assistance and a “human touch” along the way.
All of this provides an exceptional technological platform for our remortgage fee earners, who deliver an outstanding service for our clients and their Brokers based on speed, accessibility and transparency, with all work being processed in a secure manner.
Brokers can also access the PLS Portal 24/7 for updates
If you are working with borrowers or lenders and are looking for a remortgage specialist firm of solicitors which works on a fixed fee basis, and with strong experience in new homes, shared ownership and Help to Buy, then do please get in touch with our New Business Team on 0330 024 4536
To find out more about our portal click here:
What our clients think
At times like this, customer service is tested but since 1st April we have received a high level of five-star reviews. For our remortgage clients, they appreciate the fact they have a dedicated team and that they are responsive and understanding.
Below is one of our latest and outstanding reviews.