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Innovative remortgage product hits ETSOS shelves

23rd April 2014

ETSOS, the award winning property search supermarket, is delighted to announce the addition of OneSearch Direct’s Remortgage to its product range.

OneSearch Remortgage uses OSD’s real-time datasets in a majority of council areas, meaning they can turn most of them around in just 24 hours, and comes with a comprehensive insurance to cover Local Land Charges which are not included. And in those councils where OSD still manually check for updates, the aim is to complete them in 3-5 working days.

“Many remortgage insurance policies used by conveyancers only cover advances up to £500,000,” explains Ronnie Park, the Managing Director of OSD. “However, with the remortgage market seeing a significant uplift in recent months, and with property prices ever on the rise, our professional indemnity cover of up to £2million offers peace of mind to conveyancers dealing with higher-priced residential property purchases.

“Unlike a standard Local Search, OneSearch Remortgage does not contain Local Land Charges; this part is insured instead,” continues Park. “This is because these items are less likely to have changed since the initial local search was conducted back when the property was purchased.

Typically lenders are more interested in any new proposals in the pipeline that might affect the future value of the property. These matters (such as notices, orders, proposed road and traffic schemes and planning applications etc.) are the principle records collected in real-time by OSD’s data team.”

Comments Phil Natusch, ETSOS Managing Director: “Clearly there is a gap in the market for such a product and we are pleased to be able to offer it through the ETSOS system. As a supplier committed to bringing our users the widest choice of products under one roof, this addition complements our existing range of OSD searches.”

For more information about the OSD Remortgage search, or to arrange a free trial of the ETSOS platform please contact David Opie (davidopie@etsos.co.uk) on 01524 220001.

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