News
Zephyr increases proc fees for brokers and reduces selected rates
The company added that it has also reduced rates on all its 5-year, fixed-rate mortgage products by 0.10%.
Proc Fees
Featured
Selina Finance launches enhanced Home Equity Line of Credit product
The improved HELOC offers a range of new features, including a flat 1.5% procuration fee for brokers, paid upfront with no minimum utilisation requirement, along with clearer clawback terms.
Commercial Finance
YBS Commercial cuts rates and increases buy-to-let proc fee
Effective immediately, and applicable to all new buy-to-let applications, brokers will now receive 1% of the total deal value once completion has taken place.
Residential Mortgages
Chorley Building Society introduces procuration fees for product transfers
Chorley Building Society has introduced a 0.2% procuration fee for all residential and buy-to-let product transfers, recognising the role of brokers in supporting members.
Lead Story
Fleet Mortgages increases proc fees following review
Fleet said the decision to increase procuration fees was a recognition of the work carried out by advisers, and the increased burden placed upon them.
News
Vida Homeloans launches 97% LTV mortgage product
The '3 & Easy' range offers 5-year and 7-year fixed-rate options and features a potential loan term of up to 45 years.
Building Societies
Newcastle for Intermediaries increases proc fees for product transfers
Implemented in response to broker feedback, the change reflects the work involved during a product transfer.
Building Societies
Saffron for Intermediaries launches broker product transfer service
This service is available for customers with mortgage deals expiring from January 2025.
News
Suffolk Building Society adds retention procuration fees for product transfers
The new fee structure aims to enhance broker support as more customers seek financial advice regarding mortgage product transfers.
Opinion
There may be trouble ahead…
Bob Hunt discusses the challenges of declining income from proc fees, and the need for lenders and advisers to address income disparities.
Featured
April Mortgages launches simplified proc fee structure
The new payment structure will include an initial procurement fee of 0.45% at completion, plus an additional 0.30% on every fifth anniversary of the mortgage, for the remainder of the fixed term.
Building Societies
Bath Building Society boosts proc fees for residential and BTL mortgages
The society is now offering a 0.4% proc fee for new residential and buy-to-let business.