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Mortgage Next increases proc fees on products over Xmas and New Year

Mortgage Next is set to give mortgage brokers an early Christmas present by increasing procurationfees on many of its product lines over the Christmas and New Year period.

The scheme, which will run between December 1 and February 29, will result in typical fee payments rising by between 10 and 20%, placing them amongst the most competitive fees available in the mortgage market.

The fee increases will apply to the core product ranges of Halifax at 0.3%, Abbey National at 0.275%, Northern Rock at 0.275% and 0.475% on its Together products.

Enhancements will also be on Northern Rock&#39s equity release products at 0.95%, Bank of Scotland at 0.25% and the Woolwich 0.30%

All applications received on qualifying mortgage products, between December 1 and February 29, will receive the enhanced procuration fees, regardless of when the mortgages actually complete.

Justine Tomlinson, marketing director at Mortgage Next, says: “The objective of this special promotion is to make as many mortgage brokers as possible aware that Mortgage Next&#39s marketing proposition – products, service and procuration fee payments – are the best in the market.

“These procuration fee enhancements are intended to put out a strong message to mortgage brokers that it means business and I have no doubt that this news will be well received by mortgage brokers throughout the UK.”

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