Viva Costa increases proc fees
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Viva Costa International is increasing the fees paid to its introducers for overseas mortgages, applying to all cases received since the June 1 2010.
Adrian Holland, managing director at Viva Costa International, says: “Brokers have been through some extremely difficult times, so we have decided to now take the initiative and provide total clarity, along with market-leading fees, for those brokers introducing overseas mortgages. Other providers in our sector offer to pay a percentage of what they receive and we feel this is not particularly helpful for brokers who remain unclear on what they will receive.”
The increased and published fees are for all overseas mortgages, irrespective of the lender or country, and with larger loans seeing an even larger increase.
Mortgages of up to £150,000 (or currency equivalent) now pay 0.35%, and with mortgages higher than £150,000 (or currency equivalent) now paying 0.5%, subject to a £3,000 cap.
Holland adds: “These published market-leading fees bring clarity to this market for the first time, with the added benefit that Viva Costa arranges all the required paperwork directly with the client.”
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