Saffron Building Society is removing proc fee caps from its full product offering.
The news comes after the building society introduced an increase in its maximum loan sizes last month.
The recent changes mean that the Society now offers £3m up to 80% loan-to-value (LTV) and £1m up to 90% LTV across its residential and buy-to-let products and £3m up to 80% LTV for self-build.
Before this removal, the proc fee cap for Saffron’s residential and buy-to-let product range was £10,000 and for self-build it was £20,000.
There is now no limitation on proc fees for Saffron products, making it easier for brokers to understand how they will be remunerated.
Tony Hall, head of business development, said: “Since launching our larger loan sizes we’ve been delighted with the positive feedback from our broker partners about this big step forward for the Saffron range.
“We’re always looking for ways to improve our proposition, which is why we’re now removing proc fee caps from our entire range to simplify our approach and better support brokers who deal with larger loan sizes.”
He added: “What’s more, we’ve committed that this will be a longstanding offering for our residential, buy-to-let and self-build products, so brokers can be reassured that we’re a long-term partner for their larger loan cases.”
Earlier this week, Saffron refreshed its product range ahead of the busy spring homebuying season, including reductions across selected self-build, residential and buy-to-let products.
