Switchme
Have you heard about “Switchme”? Switchme is a simple and cost effective service that allows you to complete the refinancing of your mortgage without having to visit your lawyer in person. This documentation, settlement and mortgage registration process is offered by the law firm Sanderson Weir.
Switchme process - Switchme looks after you when all you are doing is refinancing your mortgage – switching from one lender to another. (Download brochure)
Switchme benefits - Switchme is a tried, tested and proven process offering the following benefits:
- More control - you choose whether or not you want extensive legal advice – if you already have a mortgage and just want to change lenders, you may feel comfortable taking control of this yourself;
- Lower costs - Switchme costs are fixed and lower than most traditional legal costs;
- Convenience - Loan documentation is delivered directly to you and you may sign the documentation in the comfort of your own home. (Download a brochure)
- Switchme is a service offered by the law firm Sanderson Weir directly to you as a borrower and is independent of Fundit and any of Fundit’s Participating Lenders. Once you’ve accepted a lender’s bid on Fundit Sanderson Weir will look after your paperwork and attend to the registration of your mortgage electronically.
(Download a brochure)
Am I eligible to use this service? - Not every refinance qualifies to use Switchme, sometimes you may need to meet with your lawyer – the following flow chart explains when Switchme may not be the best option for you.
How much does it cost? - Sanderson Weir charge standard fees depending on the type of mortgage you currently have and whether you are borrowing in your own name or through a trust or a company. The price is fixed at $583.00 for a standard transaction. Additional fees are payable if you are refinancing more than one property or your transaction involves a Company or a Trust. You can use this simple excel spreadsheet to calculate the fee for non-standard and multiple property situations. Switchme fees are payable by you direct to Sanderson Weir. Fundit has no connection with nor receives any fees from your use of the Switchme service.
Will my new lender pay the Switchme costs? - Lenders will often contribute to all or part of the legal costs to refinance your mortgage. Fundit Participating Lenders may choose to cover the full Switchme cost. Look for this information when reviewing your Fundit bids.
I’m interested in Switchme – what next? - Choose Switchme in section 11 of the Fundit application form “Your Conveyancer/Solicitor”. Remember that you’re in control. You can choose Switchme and still take other legal advice at any time during the process.
