View more on these topics

Accord to roll out retention proc fees in H1


Accord Mortgages aims to pay residential retention procuration fees to the whole of the broker market in the first half of the year.

Last year the lender launched a pilot with one firm, and has just expanded that to five firms.

The proc fee under the pilot is 0.30 per cent.

Accord says it wants to fine-tune the initiative before the wider launch.

Accord national intermediary sales manager David Robinson says: “We are committed to helping brokers build meaningful connections with their clients, and this involves recognising the effort they make to ensure borrowers get the right remortgage deal.

“We have decided to extend our pilot to coincide with a significant maturity period coming up which will give us a great opportunity to fine-tune this new initiative and ensure it is fully robust before we make a decision to offer it market-wide.”



Leeds Building Society to pay retention proc fees

  Leeds Building Society will introduce retention procuration fees later this year. The Society will pay 0.20 per cent to intermediaries for product transfers, as well as paying a full proc fee to brokers helping existing borrowers port their mortgages. Leeds Building Society director of product and distribution Jaedon Green says: “While we’ve remained focused on […]


Nationwide to pay 0.20 per cent retention proc fee

Nationwide Building Society has announced plans to pay mortgage brokers a procuration fee for retention business. The lender wants to bring the fees in by the summer to all brokers, with no phased roll-out. A procuration fee of 0.20 per cent will be paid to intermediaries for all existing customers switching products. This will apply […]


My opinion: Lenders with no proc fees face reputation harm

Any lender that still refuses to pay retention proc fees should bear in mind the potential impact on its reputation Is anyone else amazed by the fact we are still debating retention procuration fees in the year 2017? This is an issue that should have been settled long ago. Brokers must undertake the same amount […]

Bridging is no longer a dirty word

It’s not that long ago that short-term finance, or, perhaps more specifically, bridging finance were viewed as dirty words by mortgage brokers. The rates on offer were punishing, meaning there were only a handful of situations where it would be appropriate to arrange one. Some lenders didn’t exactly uphold great reputations for service standards either; […]


News and expert analysis straight to your inbox

Sign up