All Types of Mortgages has guaranteed to pay proc fees to brokers within 48 hours of confirming mortgage completions.
AToM will make twice-weekly BACS payments to ensure it can meet its promise.
Richard Hearn, managing director of AToM, says: “That we are able to do this demonstrates the strength of our proposition, even in these trying times.
“Brokers need certainty that they’re going to get paid and we give them that certainty.
He adds: “We’ve always taken pride in our ability to pay fees promptly and the BACS payments mean we can continue to deliver the funds brokers are entitled to in a timely fashion.”
Philip Stevenson, director of ARK Financial Planning, says: “This is a great development – more packagers should do the same. We sometimes have to wait up to two months for payment.”
But Roland Thomas, director of Woodside Associates, says: “If you are not getting paid quickly this offer should appeal to you, but it’s quick service not proc fees that matter.”