Chetwood Bank has revealed that it will pay brokers a full procuration fee for product transfers when it launches the service across its ModaMortgages and CHL Mortgages for Intermediaries brands.
The UK-based digital challenger bank said brokers would receive the same fee for repeat business as they do for new cases.
Chetwood Bank urged brokers to register with both lenders to keep up to date with the product transfer launch.
Darrell Walker (pictured), group sales director at Chetwood Bank, said: “As an intermediary-only lender, we’re 100% dedicated to the broker market and are committed at putting them at the heart of everything we do.
“We recognise the amount of effort that goes into completing a product transfer which is why we’re prepared to pay them a full procuration fee for the work they do, regardless of whether it’s a new case or repeat business.
“This is a really exciting move, and brokers should register with both lenders to ensure they stay up-to-date with the product transfer launch.”
