Mutual ponders overhaul of fees

Nationwide is mulling over changes to its fees structure in a bid to align it with the business volumes brokers generate for the society.

Peter Leydon, divisional director of prime intermediary lending at Nationwide, wants to overhaul the lender’s fee structure.

He is considering approaches used in sectors such as insurance where flexible payments are made. He says: “I want to know whether there’s a way we can reward brokers differently rather than via the transactional relationship of proc fees. It’s about ensuring value is shared between providers and distributors.”