Afin Bank has announced it is offering free legal fees on successful remortgage applications submitted before the end of May.

The bank says borrowers could save at least £900 on standard legal fees for mortgages under £1 million, while loans between £1 million and £2 million, the average saving on legal fees could be as much as £1,800.

The incentive will be available to customers who use Afin’s Express remortgage service via its partner Movin’ Legal, which provides a specially selected panel of law firms.

The lender will also consider capital raising as part of a remortgage, so borrowers could look to release additional funds to pay for work to their home, such as renovations or an extension, or to pay off debts and other lending.

Afin Bank national sales director Rob Lankey says: “Many borrowers are looking to remortgage because their fixed deals are coming to end, but they are having to do so in a turbulent marketplace where interest rates are increasing and products are disappearing on a daily basis.”

“By offering free legal fees on our remortgage deals we want to support customers and their brokers during this difficult period by providing them with commonsense lending solutions, whatever their circumstances, and helping them to save money. For borrowers wanting to remortgage a larger loan amount this could be a significant saving.”