View more on these topics

Increase in proc fees expected for BTL advisers

Mortgage advisers in the buy-to-let sector should see a rise in procuration fees paid by lenders later this year, it has been predicted.

Mortgages for Business chief executive David Whittaker has said that BTL advisers, particularly those writing portfolio landlord mortgage business, should see an increase in proc fees.

Speaking at the Financial Services Expo in Wales, Whittaker said that he had recently been at a closed event for buy-to-let lenders where one lender representative outlined their approach to paying for portfolio landlord business.

“One lender representative stood up in front of us all and said that in Q4 they will be paying more to brokers who are having to do more work on managed portfolio cases,” he said.

He suggested that when this lender moved, advisers could expect similar changes from others in the marketplace.

He added: “That change will force the others to move. When one goes, others will follow. It is good news that the market will be recognising your contribution and will begin paying for it.”

Whittaker said that while predictions for BTL gross lending had been downgraded by the CML recently – to £35bn in 2017 and an anticipated £33bn in 2018 – advisers still had opportunities within the sector, and that the lending figures did not necessarily take into account the value of product transfer business which increasingly lenders were paying for.



Vida Homeloans introduces expat BTL range

Specialist intermediary-only lender Vida Homeloans has introduced a new ‘Vida Expat’ buy-to-let mortgage range. The range was  designed with input from BTL brokers and networks and is targeted at existing UK property owners living abroad who wish to invest in property in the UK. Maximum loan sizes are £1m for current UK BTL landlords and […]

Jelf flexible benefits

In Focus: How to choose a flexible benefits provider — seven top tips

Jelf Employee Benefits looks at some of the key considerations employers should think about when reviewing and choosing a flexible benefits provider. Choosing the right benefits for your employees is one thing but delivering a successful employee benefits strategy is about understanding the complete picture and delivering it in a personalised way so that it resonates with each and every individual in your business. 

Simon Fletcher

Auto-enrolment: pay attention or pay the price

By Simon Fletcher

As a chief executive officer of a business in the financial services sector, I have been dealing with the introduction of auto-enrolment for our clients for some time, but I can also speak from an employer’s point of view, having to go through the process ourselves.


News and expert analysis straight to your inbox

Sign up
  • Post a comment
  • Wddafck 29th June 2017 at 4:23 pm

    good bring it on! professional advisers particularly in B2L sector deserve to be remunerated properly

  • Stuart Gregory 29th June 2017 at 10:31 am

    Or…it will be like the residential market, where the majority steadfastly stick to pre-2008 procuration fee levels even though broker workload increased after MMR.

    • Anonymous 29th June 2017 at 11:24 am

      You certainly have assessed that right Stuart! Barclays in particular should take note!

      • Stuart Gregory 29th June 2017 at 1:00 pm

        Just don’t get me started on the differences between lenders on the time it takes them to pay out..