The scheme will be run through bpl’s online software lawxchange, where introducers will have the option of a reduced legal fee or the standard no sale no fee option.
Clive Dickman, head of business development at bpl, says:“We wanted to come up with a scheme that would benefit our loyal introducers, the majority of whom work within the mortgage industry”
“We appreciate the amount of work mortgage brokers have to put in to place a case during these difficult times and therefore we wanted to come up with a scheme that safeguards part of their referral fee should the case not complete
“This will not affect up front payment from the client and the client will also benefit from a reduced legal fee so everyone wins.”
He adds: “We will still offer a no sale no fee option but introducers will now have the choice of selecting a discounted legal fee for their clients and earn a fee even if the case does not proceed.
“We have been running a pilot scheme over the last month or so and the feedback has been very positive. This scheme fits in well with our dedication to giving all our introducers the best possible opportunity to boost their income alongside the high level of service they have come to expect from bpl.”