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Brokers updates

Apr 06 2017 - Reduced fee for TLT representation

Fee reduction
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Kent Reliance

Reduced fee for legal representation through TLT

Dear Partner


Following a review, we are delighted to announce that with immediate effect, our fee scale for separate legal representation through TLT has been reduced.   


Separate representation is used in the following circumstances:


If the borrower’s conveyancer is not accredited under the Law Society Conveyancing Quality Scheme (CQS), the Bank will insist upon separate representation with TLT acting on the Bank’s behalf.


Loans of £2m or over will continue to have separate legal representation with TLT acting on the Bank’s behalf.


Alternatively, in both instances above, the borrower can select TLT to provide joint representation for them.

        

Where TLT act on the Bank’s or Customer’s behalf, the borrower will be liable for TLT’s costs.


The new fee structure can be found below:


Joint representation fee scale

Separate representation fee scale


Pipeline cases


For our Pre and Post Offer applications, borrowers who submitted their application after the 1 March 2017, are eligible for the reduced fee. Any application submitted prior to the 1 March 2017, will be liable for the fee previously quoted.  


For more information, please contact your Business Development Manager.


Kind regards


Adrian Moloney

Sales Director

        

Kent Reliance - OneSavings Bank plc


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    krbs, Kent Reliance Banking Services and Kent Reliance are trading names of OneSavings Bank plc. Registered in England and Wales (company number 7312896). Registered office: Reliance House, Sun Pier, Chatham, Kent, ME4 4ET. OneSavings Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (registered number 530504).

     

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    © OneSavings Bank plc 2017.
    krbs, Kent Reliance Banking Services and Kent Reliance are trading names of OneSavings Bank plc. Registered in England and Wales (company number 7312896). Registered office: Reliance House, Sun Pier, Chatham, Kent, ME4 4ET. OneSavings Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (registered number 530504). We subscribe to the Financial Services Compensation Scheme and the Financial Ombudsman Service.

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