Optoma increases Abbey proc fee

Optoma is increasing the proc fee for Abbey online submissions to 0.35%.

The company says that this is to support the thousands of brokers who are now unable to claim through the Legal & General mortgage club.

Andrew Seymour, chairman and chief executive at Optoma, says: “Brokers should be rewarded for submitting online as they are saving lenders millions of pounds in resource.

“Optoma has increased the proc fee to reward the broker but also to demonstrate to lenders that brokers will embrace IT if rewarded. After all, this is a commercial world.”