Furness adds 0.30% procuration fee

Furness for Intermediaries will now offer a 0.30 per cent procuration fee for product transfers carried out by brokers.

The procuration fee is applicable on residential and buy-to-let mortgage deals.

The firm adds that brokers can now carry out the product transfer through the building society’s online mortgage application system.

Furness for Intermediaries head Alasdair McDonald says: “We have worked hard to get this project off the ground because we acknowledge the effort brokers put in to making sure their customers get the best deal.

“We will continue to contact our existing customers prior to the maturity of their current mortgage deal and will let them know we are happy for them to switch to a new deal through a mortgage broker.

“We have tried to make this as easy and seamless as possible, not only the product transfer process, but also with the range of fee free products available to our existing customers.”

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