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Coventry BS to pay retention proc fees this year


Coventry Building Society is set to pay brokers procuration fees for retention business in 2017.

The lender currently does not pay the fees, but has been reviewing its position.

A Coventry Building Society spokeswoman says: “As part of our pledges, we give our brokers’ clients access to the same new business products as our direct customers.

“This equally applies to retention products and any customer looking to transfer their mortgage can choose from our new business range.

“We’re committed to the intermediary sector and paying intermediaries proc fees for retention business during this year – more details will follow in due course.”

Last week saw the news that Santander for Intermediaries would pay brokers a proc fee of 0.20 per cent from March.



Santander to pay retention proc fees from March

Santander for Intermediaries has today announced plans to pay mortgage brokers a procuration fee of 0.2 per cent on retention business. The roll-out of payments across networks and mortgage clubs will start from March 1 and be fully in place by the start of July. Procuration fee payments will be paid on all retention business […]


FBS sets out procuration fees increase

The Family Building Society has increased procuration fees by 10 basis points on its family, offset and low start mortgages. The gross fee paid for the family mortgage rises to 0.55 per cent, from 0.45 per cent, while the fees paid for its offset and low start mortgages have increased to 0.5 per cent and […]


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