Intelligent Finance withdrew trail commissions from its product range on September 1.The bank had previously paid intermediaries a percentage of their commission upfront and then paid the rest over the course of the mortgage, but it says feedback from brokers has persuaded it to change its method of payment. Jennifer Blackwood, spokeswoman for IF, says: “Intermediaries have told us that since statutory regulation has been in place they feel the need to be paid their commission in full and upfront so they can meet their compliance costs. “This makes more sense anyway, as commission is effectively paying intermediaries for the work they do in setting up a mortgage rather than staggering it over the course of the deal, as with trail commissions.” IF has made further reductions on its Offset 80 tracker mortgage. The firm has cut the two-year tracker rate on the product by 0.4%, lowering the rate from 5.39% to 4.99%. The mortgage reverts to IF’s standard variable rate after the introductory rate and carries no extended redemption penalties. IF believes the offset market will see substantial growth over the next few years and says it has found that people with slightly lower LTV mortgages tend to be the most active offsetters. The rate reduction on the Offset Tracker 80 is intended to encourage more people who are in a position to maximise the benefits offset products provide to try them out.